The Indian stock market is expected to have a subdued start on Friday, with mixed signals from global markets. Asian markets showed a mixed trend, with Japan’s Nikkei reaching an unprecedented high. US stock indices closed at record levels, driven by optimism surrounding potential interest rate cuts by the US Federal Reserve this year.
On the previous day, the Indian benchmark indices ended with substantial gains, with the Sensex and Nifty 50 closing above key levels. The Nifty 50 chart showed a small positive candle with minor upper and lower shadows, indicating a rebound following a downward correction.
Global investors are regaining interest in emerging markets, anticipating three interest rate reductions by the US Federal Reserve in 2024. This has led to increased confidence in Asian equities and a positive outlook for the market.
In pre-open trading, Indian benchmark indices were red, with the Sensex and Nifty trading lower. However, Gift Nifty futures were trading higher, indicating a strong opening for the Indian markets.
Overall, the market is expected to have a strong trading session ahead of the long weekend, with global peers climbing up and positive indicators for the Indian market.
