(Viral Buzz News) -India’s benchmark indexes are set to open higher on Thursday as foreign inflows and hopes of a de-escalation in U.S.-China trade tensions could aid investor sentiment.
However, the trend through the day will likely be dictated by earnings from fast-moving consumer goods major Hindustan Unilever and Nestle India, and the expiry of monthly derivatives contracts.
Gift Nifty futures were trading at 24,415.5 as of 8:01 a.m. IST, indicating a 0.3% rise for the Nifty 50 compared with Wednesday’s close of 24,328.95.
U.S. Treasury Secretary Scott Bessent said on Wednesday that high tariffs between the United States and China are not sustainable, signalling openness to de-escalating a trade war between the world’s two largest economies that has raised fears of recession.
That, coupled with U.S. President Donald Trump’s reassurances that he does not intend to fire the Federal Reserve Chair, pushed Wall Street higher overnight.
Asian markets were mixed on the day, with the MSCI Asia ex Japan trading 0.3% lower. [MKTS/GLOB]
Back home, foreign portfolio investors (FPIs) bought shares worth 33.33 billion rupees ($389.7 million) on Wednesday, as per provisional data.
This was the sixth consecutive session of buying by FPIs in the country amid a weakening dollar and strong growth prospects for the Indian economy.
The dovish commentary from the minutes of the Reserve Bank of India’s April policy meeting, in which it cut rates by 25 basis points, is also likely to support the sentiments on the day.
The members of the rate-setting panel said inflation in India is expected to stay near target this fiscal year, providing space to support growth through further monetary easing.
STOCKS TO WATCH
** Biocon to raise funds worth up to 45 billion rupees ($527.3 million) via the issue of securities, which may include debt and selling shares to institutional investors
** Bharat Forge will be in focus as the Trump administration opens a probe into the national security impacts of importing medium-duty and heavy-duty trucks and related parts into the U.S.
** LTIMindtree marginally misses fourth-quarter earnings estimates due to revenue decline in its healthcare and consumer segments
(Reporting by Vivek Kumar M; Editing by Janane Venkatraman)
