Indian benchmark indices Sensex and Nifty 50 are expected to open lower on Friday amid mixed global cues and expectations of easing tensions between the United States and Iran.
Trading in the domestic market is likely to begin with mild weakness as investors track developments in US-Iran tensions and volatility in international markets. Profit booking was observed in the previous session, which kept key indices under pressure.
On Thursday, the Sensex declined 122.56 points, or 0.16%, to close at 77,988.68, while the Nifty fell 34.55 points, or 0.14%, to settle at 24,196.75. Market participants will monitor the direction of trade and stock-specific action in the current session.
GIFT Nifty and pre-open indicators signal pressure
Early indicators show GIFT Nifty trading lower by approximately 56 points, indicating a subdued start for domestic equities. Market experts stated that the downside may remain limited and suggested a “buy on dips” approach.
Global market cues remain mixed
Asian markets traded lower, with Japan’s Nikkei 225 and Topix indices declining by about 0.6% to 0.7%. South Korea’s Kospi and Kosdaq indices also recorded declines.
In contrast, US equity markets closed higher on Thursday. The Nasdaq and S&P 500 touched intraday record levels, with the Nasdaq extending gains for a 12th consecutive session, marking its longest winning streak since July 2009.
Geopolitical and commodity signals
Expectations of easing tensions in the Middle East and prospects of a ceasefire influenced global investor sentiment. Reports of potential talks between the United States and Iran contributed to market sentiment.
Crude oil prices declined, with Brent crude trading near $98 per barrel. Gold prices remained stable, indicating limited shifts toward safe-haven assets.
Stocks in focus
Wipro reported a 2% decline in fourth-quarter net profit at ₹3,502 crore, while revenue increased 8% to ₹24,236 crore. The company approved a share buyback of ₹15,000 crore.
Angel One reported an 84% year-on-year increase in profit after tax to ₹320 crore, reflecting higher client activity.
CESC Limited signed multiple power purchase agreements for wind and solar power projects.
Rail Vikas Nigam Limited was declared the L1 bidder for a project valued at ₹967.92 crore.
Axis Bank will consider options for fund raising on April 25.
Kalyani Steels reported the resignation of its Chief Financial Officer.
Quarterly earnings announcements
Several companies are scheduled to announce their fourth-quarter results, including Jio Financial Services, Bajaj Consumer Care, Aditya Birla Money, Mastek and Hathway Cable. These results are expected to influence sectoral trends.
