ONGC

Pre-Opening

GIFT Nifty edged higher on Friday, hinting at a mildly positive opening for Indian equities. However, sentiment is likely to stay cautious due to elevated crude oil prices, ongoing foreign investor outflows, and weak global cues. Trading near 24,238, up roughly 80 points or 0.33%, GIFT Nifty suggests that the Sensex and Nifty could open slightly higher after two straight sessions of decline. Meanwhile, fresh geopolitical concerns have added to market unease. Reports of Iranian military activity in the Strait of Hormuz and increased defence engagement have heightened fears of escalation. The lack of progress in US-Iran negotiations continues to weigh on investor confidence. Asian markets were mixed in early trade, reflecting caution despite a three-week extension of the Israel-Lebanon ceasefire, highlighting persistent geopolitical uncertainty. Foreign institutional investors (FIIs) extended their selling streak for a fourth consecutive session, offloading more than ₹3,200 crore, while domestic institutional investors (DIIs) offered limited support. Sustained FII outflows remain a significant pressure point for the market.