Market Update

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, supported by short-covering after steep losses in the previous session and mixed global cues. Asian markets traded mixed, while the US stock market ended lower overnight amid inflation concerns triggered by soaring crude oil prices due to the US-Iran war, denting hopes of interest rate cuts. On Thursday, the Indian stock market witnessed a sharp sell-off, snapping its three-day streak of gains. The Sensex plunged 2,496.89 points, or 3.26%, to close at 74,207.24, while the Nifty 50 dropped 775.65 points, or 3.26%, to settle at 23,002.15. “Markets appear to be in a phase of heightened fragility, where sentiment is being driven by rapidly evolving geopolitical developments and a sharp rise in crude prices. Given the intensifying tensions around energy infrastructure in West Asia, we remain cautious in the near term and expect volatility to persist