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Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are anticipated to have a subdued opening on Friday, influenced by mixed signals from global markets.
Asian markets mostly experienced gains, while the US stock market was closed, and US stock futures declined due to concerns over the intensifying Israel-Iran conflict.
On Thursday, the Indian stock market concluded with slight losses, as the benchmark Nifty 50 fell below the 24,800 mark.
“The Sensex decreased by 82.79 points, or 0.10%, finishing at 81,361.87, while the Nifty 50 closed 18.80 points, or 0.08%, lower at 24,793.25. The strength observed in the benchmark index does not accurately represent the overall market sentiment, as we are seeing gradual profit-taking across various sectors and in the broader market. With geopolitical tensions pushing crude prices higher, further declines may occur if crude prices consistently exceed the $80 threshold. We maintain our cautious stance and recommend closely monitoring positions until we gain more clarity,” stated Ajit Mishra – SVP, Research, Religare Broking Ltd.
Asian markets traded predominantly higher on Friday following data from China and as investors evaluated the rising Israel-Iran tensions.
Japan’s Nikkei 225 increased by 0.13%, while the Topix index remained unchanged. South Korea’s Kospi index rose by 0.51%, and the Kosdaq climbed by 0.41%. Futures for Hong Kong’s Hang Seng index suggested a weaker opening.
Gift Nifty was trading around the 24,793 level, reflecting a discount of nearly 10 points from the previous close of Nifty futures, indicating a subdued start for the Indian stock market indices.
Wall Street
The US stock market was closed on Thursday in observance of the Juneteenth holiday. However, US stock futures were trading lower in anticipation of Friday’s session. Dow Jones Industrial Average futures dropped by 154 points, or 0.3%, Nasdaq 100 futures fell by 0.2%, and S&P 500 futures decreased by 0.2%.
(Newsroom staff only edited this story for style from a syndicated feed)
