Flattish opening seen for Indian stocks; markets eye release of inflation data
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian stocks are likely to open on a flat to negative note on Thursday.
- ✓Gift Nifty at 25,240 signals a flattish start as investors watch for October CPI inflation data.
- ✓Ponmudi R of Enrich Money said, “This remains the key domestic catalyst,” amid concerns over potential further monetary tightening.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Indian stocks are likely to open on a flat to negative note on Thursday, amid cautious sentiment in the market. Gift Nifty at 25,240 signals a flattish opening for Nifty. After the announcement that US inflation rose sharply, the focus shifts to India’s number.
According to Ponmudi R, CEO of Enrich Money, Indian equity markets are likely to open on a steady note, with investors keeping a close watch on the October CPI inflation data scheduled for release later today. “This remains the key domestic catalyst, particularly after the recent acceleration in inflation and the RBI’s shift towards a calibrated tightening stance following its October rate hike. A higher-than-expected October print could reinforce concerns over further monetary tightening, while a softer reading may offer some relief to market sentiment,” he added.
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