Indian benchmark indices Sensex and Nifty are likely to open on a slightly negative note on Thursday, with GIFT Nifty signalling a weak start amid mixed Asian markets and renewed selling in global technology stocks. Disappointing earnings from major artificial intelligence-related companies have dampened sentiment, while the US Federal Reserve's decision to hold interest rates steady and expectations of a December rate hike could keep investors cautious. A modest decline in crude oil prices may offer some relief, although geopolitical tensions remain a concern.
GIFT Nifty was trading at 22,683 around 7:40 am, down 50 points, or 0.22 percent. Indian equities ended lower on Wednesday, with the Sensex declining 352.64 points, or 0.48 percent, to 73,246.03 and the Nifty falling 50.90 points, or 0.22 percent, to 22,698.85. Foreign institutional investors bought equities worth Rs 871 crore, extending their buying streak, while domestic institutions also turned net buyers, purchasing shares worth Rs 643 crore.
Asian equities traded mixed on Thursday as disappointing earnings from major technology companies revived concerns over the enormous investments being made in artificial intelligence. South Korea's Kospi fell 1.8 percent, dragged down by Samsung Electronics, whose shares declined more than 3 percent after the company's profit missed market expectations.
Nikkei 225 futures edged 0.1 percent higher, while Hong Kong's Hang Seng was little changed and the Shanghai Composite advanced 0.9 percent. The broader MSCI Asia Pacific Index slipped 0.1 percent, reversing earlier gains.
Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today