The Indian stock market is expected to open cautiously on Thursday, following a mixed performance in global markets. The Gift Nifty futures were trading marginally higher, indicating a muted start for the Indian benchmark indices.
In Asian markets, South Korean shares rose, led by automakers and financial stocks, while Australian shares ticked lower due to weakness in financials. Global markets, including Wall Street, saw a slight decline, with the rise in U.S. Treasury yields impacting the tech sector.
Investors are awaiting key data releases on inflation and consumer health, which will provide insights into the future direction of the Federal Reserve’s policy. The upcoming monetary policy meetings of the Reserve Bank of Australia and the U.S. Federal Reserve are also being closely monitored.
In India, the markets are likely to be influenced by the performance of sectors like banking, IT, and metals. The recent developments, such as the signing of contracts, acquisition of stakes, and new orders by companies like HAL, Larsen & Toubro, and Adani Green Energy, are expected to impact market sentiment.
Overall, the Indian stock market is expected to start cautiously, with investors keeping a close watch on global cues and upcoming data releases for further direction.
