The Indian stock market is expected to open flat on Thursday, following weak global cues and geopolitical tensions in the Middle East. The GIFT Nifty was trading at 22,178, indicating a similar opening for the Nifty 50.
After falling about 3% in the past three sessions, investors are cautious about the ongoing conflict and its impact on crude oil prices, which could lead to inflationary pressures.
Asian markets showed mixed trading, with the dollar taking a breather and bond markets stabilizing. Oil prices also saw a sharp fall on demand concerns and lack of response to Iran’s recent attack.
Wall Street indexes declined overnight, with S&P 500 futures remaining flat in early Asia trade. The dollar dipped slightly, and U.S. Treasury yields fell, with 10-year yields at 4.59%.
Australian stocks are set to snap five consecutive sessions of losses, with the ASX 200 up 0.5%. European policymakers are preparing to cut rates in two months, putting pressure on the euro.
Commodity markets saw European gas prices retreat from highs, while metal prices paused their sharp rallies. Gold remained below last week’s record high at $2,366 an ounce.
Overall, market nerves are high as investors monitor central bank speeches, U.S. jobless claims data, and earnings reports from companies like Blackstone and Netflix.
The Indian stock market is likely to see a cautious start as investors assess the global economic landscape and geopolitical developments.
