Indian stock markets are expected to open on a cautious note on Friday amid mixed global cues.
Gift Nifty at 24,153 signals a marginal decline at open.
Ponmudi R, CEO of Enrich Money, said While optimism around potential progress in U.S.–Iran talks had initially supported risk appetite, fresh developments around disruptions in the Strait of Hormuz have reintroduced uncertainty. Partial blockages and rising tensions along this critical oil route have kept global markets on edge, given that nearly 20% of global oil supply passes through it, he said.
Overall, sentiment remains cautiously optimistic but clearly fragile. The market environment is highly news-driven, with volatility likely to persist, particularly around geopolitical developments, crude oil price movements and foreign investor flows, he further said.
Equities across Asia pacific region are also down in early deal on Friday.
According to Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, stock specific action is likely to dominate in the near term as the earnings season gathers pace. Wipro will be in focus after announcing a ₹15,000 crore buyback at ₹250 per share post market hours, even as its quarterly earnings reflected a marginal decline in net profit. Jio Financial Services will also be closely tracked ahead of its Q4 results, adding to the earnings driven momentum in financials.
On the macro front, liquidity conditions will be closely monitored following the Reserve Bank of India’s announcement of a ₹2 lakh crore seven day variable rate reverse repo auction, he said. “This move indicates an intent to absorb excess liquidity from the system, effectively tightening financial conditions at the margin. Such actions tend to influence short term interest rates and can have a broader impact on borrowing costs, thereby indirectly shaping consumption and investment trends,” he further said.
Volatility remains an important factor. India VIX has cooled from recent highs but continues to hold above the 18 mark, suggesting that option premiums remain elevated. This reflects an underlying layer of uncertainty, particularly from global developments, according to Hariprasad.
Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities, saidfrom the derivatives perspective, PCR stands near 0.86, indicating a neutral stance amid recent volatility. Option data suggests that call writing is clustered around 24,300–24,500, capping the upside, while put writing at 24,000–23,800 is offering immediate support, reinforcing a defined trading range. India VIX has cooled towards the 18 zone, reflecting some easing in volatility; however, the persistence of global uncertainties suggests that intermittent swings may continue.
“Overall, the index appears to be in a consolidation phase, with 24,100 acting as a strong base and 24,260–24,300 as a key resistance band. A decisive breakout on either side is required to establish the next directional move,” he added.