India’s benchmark equity indices are poised for a muted open on Thursday, tracking cautious sentiment across Asian markets as investors remain on edge over the future of U.S. Federal Reserve Chair Jerome Powell.
As of 7:46 a.m. IST, Gift Nifty futures were trading at 25,281, suggesting the Nifty 50 index will open close to its previous close of 25,212.05.
Asian markets mirrored the uncertainty, with MSCI’s Asia-Pacific ex-Japan index trading flat. The U.S. dollar and Treasury yields slipped after former President Donald Trump said it was “highly unlikely” he would fire Powell, slightly easing fears over political interference in U.S. monetary policy.
Back home, analysts expect limited movement in Indian equities until further clarity emerges on the India–U.S. trade agreement, which Trump claimed was “very close” to being finalized. The progress of this deal is being closely watched by global investors as it may have broad implications on bilateral trade and investment flows.
Adding to near-term caution, foreign portfolio investors (FPIs) continued their selling streak, offloading ₹18.58 billion (around $216.4 million) worth of Indian equities on Wednesday, marking their fourth consecutive day of net outflows, as per provisional data. This ongoing withdrawal could cap upside potential in the broader indices.
Copper Slips as U.S. Tariff Deadline Looms and Stockpiles Rise
Despite global and macro concerns, stock-specific action is expected to dominate the session due to the ongoing earnings season. Investors will closely track quarterly results from key companies such as:
-
Axis Bank
-
Wipro
-
Jio Financial Services
These earnings reports may drive short-term sentiment in their respective sectors.
In summary, the Indian stock market is likely to remain range-bound as investors await clarity on global developments, foreign fund behavior, and domestic corporate earnings.
