Stock markets are expected to open lower on Friday, tracking weak global cues and high crude oil prices, as
Early signals from the derivatives market suggest a weak start. GIFT Nifty futures were trading at 23,144 at around 8:01 am. This points to a likely opening below the previous close of 23,306.45 on the Nifty 50. Indian markets were shut on Thursday due to a holiday.
Global markets have also been under stress. Asian shares were down by about 1.2%, while US markets ended lower. The Nasdaq Composite has now entered a correction phase.
Oil prices remain a key concern. Brent crude is hovering near $106 per barrel, which is adding pressure on economies that depend heavily on imports, including India.
The ongoing conflict involving the US, Israel and Iran has kept markets on edge. While US President Donald Trump said talks with Iran were going “very well” and that a pause on attacks would continue into April, an Iranian official has called the proposal “one-sided and unfair”. This has reduced hopes of a quick end to the conflict.
Indian benchmark indices have already seen a sharp fall since the war began. Both the Sensex and Nifty 50 have declined about 7.4% during this period.
Higher crude prices and concerns over energy supply have affected investor sentiment. These factors have also raised worries about inflation and economic growth in India.
The government has kept its retail inflation target at 4%, within a comfort range of 2% to 6%. At present, inflation remains low, with consumer price inflation at 2.75% in February.
However, rising global oil prices and supply disruptions linked to the Iran war could push inflation above 4% in the new financial year starting April.
This could become a key factor for markets in the coming weeks.
Foreign portfolio investors have continued to sell Indian stocks. So far in March, they have pulled out about $12.14 billion. This puts the month on track for record outflows.
Heavy selling by foreign investors has also pushed the rupee to record low levels, adding to overall market pressure.
HDFC Bank is likely to remain in focus during today’s trading session. The markets regulator has started a preliminary review of the resignation of part-time chairman Atanu Chakraborty.
He stepped down on March 18, and the review is looking into possible rule violations related to directors of listed companies.
The stock has seen sharp movement in recent sessions. Shares fell 11.7% over three sessions after the resignation but have recovered 5.1% in the last two trading sessions.
Reports have also suggested that the resignation was linked to differences between Chakraborty and chief executive Sashidhar Jagdishan.
Markets are likely to take cues from global trends, oil prices, and any fresh updates on the Iran war. With uncertainty still high, volatility may continue.
Investors will also keep an eye on foreign fund flows, inflation outlook, and movement in key stocks like HDFC Bank.
Overall, the mood remains cautious, and markets may see a weak start unless there is some positive global trigger.
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