Indian Shares Likely To Open On Cautious Note

(RTTNews) - Indian shares look set to open on a subdued note Friday as a global equity rally over the past week lost momentum.

Lingering concerns about the lack of progress in trade talks with the United States and caution ahead of the release of Q2 GDP data may also keep investors on edge. Potential losses, if any, may remain capped by expectations surrounding potential interest-rate cuts by Fed and the RBI.

Benchmark indexes Sensex and Nifty scaled new record highs on Thursday before giving up most gains to eventually end on a flat note.

The rupee declined 14 paise to settle at 89.36 against the U.S. dollar, pressured by a firm greenback in international markets and due to higher demand for dollar from importers and banks for month-end trade settlements.

Foreign investors turned net sellers of Indian equities again and offloaded shares worth Rs 1,255 crore on a net basis Thursday, while domestic institutional investors net bought shares to the extent of Rs 3,941 crore, according to provisional exchange data.

Asian markets were broadly lower this morning after property developer China Vanke sought to delay an onshore bond repayment for the first time, sending its bonds plunging and rekindling worries about a spillover effect for the broader property sector.

Also, the corporate legal battle between global chip rivals Taiwan Semiconductor Manufacturing Company (TSMC) and Intel has escalated into a criminal investigation.

The U.S. dollar headed for its biggest weekly fall in four months as expectations grew that President Donald Trump could name a more dovish Fed chair before Christmas.

Gold held near two-week highs, moving towards $4,200 per ounce on Fed rate cut bets. Oil headed for the longest run of monthly losses in more than two years as traders looked ahead to an OPEC+ meeting this weekend and weighed the impact of U.S.-led efforts to end the conflict in Ukraine.

U.S. markets were closed on Thursday in observance of the Thanksgiving holiday. Trading will reopen with shortened hours today, closing at 1 p.m. ET for Black Friday 2025.

European stocks ended flat to slightly higher on Thursday amid optimism about an interest rate cut by the Federal Reserve in December and hopes of a potential Russia - Ukraine peace deal.

The pan European Stoxx 600 edged up by 0.1 percent. France's CAC 40 and the U.K.'s FTSE 100 ended flat with positive bias while the German DAX added 0.2 percent.