India’s benchmark indexes are set for a muted opening on Thursday, tracking other Asian markets, with the monthly derivatives expiry expected to spur volatility in the session.
The GIFT Nifty futures were trading at 22,594 as of 08:17 a.m. IST, indicating that the blue-chip Nifty 50 will open near Tuesday’s close of 22,547.55.
Indian equities ended little changed on Tuesday, after five days of losses, ahead of a local holiday on Wednesday and expiry of monthly derivatives contracts on Thursday.
The Nifty 50’s February derivatives contracts expiry on the day may result in some choppy trades as investors will either close their positions or roll them over to the March series.
Domestic equities have been under pressure over the last few months, with the benchmark Nifty 50 set for its fifth consecutive month of losses - the longest streak since 1996.
Both indexes are down about 14% and 13%, respectively, from the record highs hit in September 2024.
Concerns over slowing economic and earnings growth, U.S. President Donald Trump’s tariffs and persistent foreign outflows are pressuring the market.
Foreign investors offloaded Indian shares worth 35.29 billion rupees ($405.17 million) on Tuesday, provisional data showed, pushing the total outflows to $12.82 billion in 2025 so far.
Indian shares slide as foreign sell-off weigh
Heavy-weight financials will be in focus after the Reserve Bank of India partially dialled back strict loan rules for micro-credit and non-bank lenders.
Asian markets were little changed in early trades, with the MSCI Asia ex Japan up 0.1%, after Trump’s fresh tariff threats and a neutral response to Nvidia’s earnings.
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