Indian benchmark indices are likely to open on a cautious note on Friday, with GIFT Nifty indicating a flat start. Mixed global cues and lingering geopolitical uncertainty temper optimism from easing crude oil prices. GIFT Nifty was trading at 24,176.5 in early deals, largely unchanged from the previous close. This suggests that the Nifty 50 may open around the 24,150-24,200 range, with limited directional bias.
Asian markets traded lower in early deals, with a broader Asia-Pacific index slipping about 0.6 percent. Investors pared positions ahead of the weekend and awaited further clarity on the US-Iran ceasefire. Meanwhile, US markets continued their upward momentum overnight, with the S&P 500 and Nasdaq closing at record highs for a second straight session. Crude oil prices edged lower, with Brent trading below the $100 mark near $98 per barrel. Analysts noted that uncertainty around geopolitical developments is keeping risk appetite in check.
Foreign institutional investors remained net buyers for a second straight session on Thursday, purchasing equities worth Rs 382 crore. Domestic institutional investors continued to sell. The Nifty remains in a consolidation phase near the 24,100–24,200 zone, with resistance seen in the 24,300-24,400 band and immediate support around 24,100-24,000.
