Indian benchmark indices Sensex and Nifty are likely to open higher on Friday, with GIFT Nifty signalling a positive start after Thursday's sharp rally. A rebound in Asian equities following the recent technology-stock selloff, gains on Wall Street and a modest decline in crude oil prices could support sentiment. However, elevated energy prices, geopolitical uncertainty and persistent foreign institutional selling remain key risks to the recovery.
GIFT Nifty was trading at 23,072 around 8 am, up 84 points, or 0.37 percent, indicating a positive opening after the Nifty ended near 23,000 on Thursday. Indian equities surged in the previous session, with the Sensex jumping 1,533.72 points, or 2.11 percent, to 74,315.61 and the Nifty gaining 374.65 points, or 1.66 percent, to 22,997.35. Foreign institutional investors sold equities worth around Rs 5,285 crore, while domestic institutions bought shares worth Rs 3,319 crore.
Asian equities advanced on Friday as investors bought stocks following the sharp selloff in semiconductor and artificial intelligence-related companies earlier in the week. The MSCI Asia Pacific Index gained 1.1 percent, with advancing stocks outnumbering decliners by roughly three to one. South Korea's Kospi climbed 2.5 percent, recovering from Thursday's slump that had pushed the index to its lowest close since April.
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Japan's Topix rose 1.7 percent, Hong Kong's Hang Seng gained 0.9 percent, and the Shanghai Composite advanced 0.4 percent. Indonesia bucked the regional trend, plunging 8 percent amid concerns over the country's potential exclusion from global stock indices. US equity futures were largely unchanged, with S&P 500 futures trading near the flatline.