Indian Shares Set For Cautious Open
(RTTNews) - Indian shares are likely to open on a cautious note on Friday as investors react to mounting geopolitical tensions in the Middle East and await earnings from prominent companies for direction.
Market heavyweight Reliance Industries will publish its quarterly results after market hours today, while top lenders HDFC Bank and ICICI Bank are scheduled to unveil their earnings results over the weekend.
Information technology stocks could be in focus today after Wipro and Tech Mahindra posted mixed financial results.
Benchmark indexes Sensex and Nifty gave up early gains to end on a flat note on Thursday as traders focused on inflation risks stemming from higher energy prices and supply disruptions linked to the Iran war.
The rupee slipped 9 paise to close at 96.35 against the dollar, falling for the fourth straight day on concerns about rising import bills following fresh tensions in West Asia.
Foreign institutional investors turned aggressive sellers and net sold shares worth Rs 4,205.56 crore on Thursday, while domestic institutional investors net bought shares to the extent of Rs 2,986.41 crore, according to provisional exchange data.
Asian markets traded lower for a second day running this morning as a sell-off in chipmakers intensified amid rising AI concerns after Taiwan Semiconductor Manufacturing massively hiked its capital expenditures for 2026.
Adding to investor anxiety, Netflix forecast third-quarter revenue and earnings that fell short of Wall Street estimates.
The U.S. dollar was steady in Asian trade but faced a weekly drop after the release of softer U.S.CPI and PPI data.
Gold edged up to $3,983 an ounce but was on track for a significant weekly loss on oil-led inflation worries.
Brent crude futures traded near $85 a barrel and were on track for a 12 percent weekly gain as shipping traffic slumped through the Strait of Hormuz. The U.S. intensified strikes against Iran, hitting overnight an oil tanker near the country's main oil terminal.
U.S. stocks ended lower overnight as investors paused after a two-day rally. High-flying chip and memory stocks declined on concerns over lofty AI valuations and rising debt as every major hyperscaler races to build AI data centers.
Fresh flare-up in hostilities between the U.S. and Iran also weighed on markets as Washington launched a sixth straight day of strikes on Iran for control of the Strait of Hormuz.
Treasury yields rebounded after data showed initial unemployment claims declined more than expected last week. Retail sales experienced a modest uptick in June, supported by consumer spending even as gasoline prices fell.
The tech-heavy Nasdaq Composite tumbled 1.5 percent while the S&P 500 dopped half a percent and the Dow eased 0.2 percent.
European stocks ended mixed on Thursday as escalating Middle East tensions offset strong earnings.
The pan-European STOXX 600 gained 0.2 percent. While the U.K.'s FTSE 100 index rose half a percent, France's CAC 40 finished marginally lower and the German DAX dipped 0.3 percent.
