Nifty Flat; Sensex, Nifty Seen Opening Muted Amid Cautious Global Cues Despite Falling Crude Prices

Indian Markets to Open on Cautious Note Amid Mixed Global Cues

Indian benchmark indices are likely to open on a cautious note on Friday with the GIFT Nifty indicating a flat start, as mixed global cues and lingering geopolitical uncertainty temper optimism from easing crude oil prices.

The muted signal comes after a volatile session on Thursday, when domestic markets failed to hold early gains and ended marginally lower. The Nifty 50 slipped below the 24,200 mark amid profit booking at higher levels. The benchmark index closed at 24,176.5 in early deals, largely unchanged from the previous close.

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Global cues are mixed. 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. Japan’s Nikkei also declined after hitting a record high in the previous session.

On the other hand, US markets continued their upward momentum overnight, with the S&P 500 and Nasdaq closing at record highs for a second straight session. The markets were supported by optimism that the worst of the Middle East conflict may be behind.

Crude oil prices edged lower but remained volatile, with Brent trading below the $100 mark near $98 per barrel. The decline follows expectations of progress in US-Iran talks and a potential extension of the ceasefire. However, concerns persist around disruptions in the Strait of Hormuz, a key global oil transit route.

Analysts said the combination of softer crude prices and record highs in US equities is providing support, but 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, offering some support to markets, although domestic institutional investors continued to sell.

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From a technical perspective, 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.