Indian equities are set for a weaker opening on Thursday, influenced by persistent high crude prices and cautious sentiment from global markets, despite mixed signals from U.S. and Asian trading sessions.
Indian shares were set for a softer open on Thursday after a muted lead from global markets and continued pressure from higher crude prices, with GIFT Nifty signalling a negative start. Reuters-style market summaries noted that Asian equities were mostly firmer, but that did little to offset anxiety in India over oil trading close to the $90-a-barrel mark. The benchmark closes on Wednesday were also weak, with the Nifty 50 finishing 0.15% lower at 24,435.95 and the Sensex down 0.24% at 77,966.
The overnight tone from Wall Street was mixed but constructive. AP reported that U.S. stocks ended higher on Wednesday after fresh evidence that inflation eased slightly and a new round of strong results from artificial intelligence-linked companies kept investor sentiment supported. The S&P 500 rose 0.3% to 7,748.50 and the Nasdaq climbed 0.5% to 26,588.49, while the Dow slipped 21.58 points. The same reports said Treasury yields eased as markets scaled back expectations for an immediate rate increase from the Federal Reserve.
Asian trading was steadier, with Japan’s Nikkei 225 rising about 1.5% and South Korea’s Kospi jumping almost 4%, according to the market summary and AP. Hong Kong futures were weaker than the underlying benchmark’s previous close, but the broader regional mood remained helped by enthusiasm for artificial intelligence and semiconductor shares. Even so, India’s opening prospects were clouded by energy prices, which remained elevated despite a modest pullback in Brent and West Texas Intermediate.
Commodity and currency moves were slightly more supportive. The India market note said Brent crude was trading at $88.06 a barrel and WTI at $82.31, while AP placed the two benchmarks just below those levels. Gold and silver were firmer, and the dollar index was fractionally lower. In India, foreign investors were net sellers of ₹1,002.50 crore on Wednesday, while domestic institutions bought ₹5,841.66 crore, according to provisional NSE data. The rupee strengthened 0.13% to 95.33 against the dollar, offering some relief even as high oil prices remained the dominant concern.
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