The stock markets in India are expected to open on a subdued note today, following mixed trading in Asian and US markets. The Gift Nifty futures are indicating a slightly higher opening, with Nifty 50 closing at 22,004.70 on Tuesday.
In Asia, stocks were mixed with Japan and Australia seeing gains, while Hong Kong and mainland China opened lower. The recent gains in China’s equity markets will be tested as major financial institutions release earnings reports.
US stock futures are pointing to gains after the S&P 500 fell for a third day. The dollar was slightly stronger against its peers, while oil prices extended a modest decline after a report showed a build in US inventories.
Investors are awaiting key economic data and the policy direction of the US Federal Reserve, with expectations of a rate cut in June. The market is likely to consolidate within a wider range, with purchases in the broader market expected before the end of the financial year.
