India’s benchmark indexes are set for a muted start on Friday after four sessions of gains, while information technology stocks will be in focus amid concerns over discretionary spending in the United States.
The GIFT Nifty futures were trading at 23,187.5 as of 08:08 a.m. IST, indicating that the blue-chip Nifty 50 will open near Thursday’s close of 23,190.65.
The Nifty has risen for four consecutive sessions this week, marking its longest daily winning streak in around seven weeks.
Foreign portfolio investors (FPIs), who were persistent sellers of Indian equities since late last year, turned buyers in two of the last four sessions, as per provisional data.
The flows will remain in focus as the FTSE March semi-annual review will come into effect later in the day, which IIFL said would lead to net inflows of $1.4 billion into India.
Foreign selling in Indian stocks continues unabated in first half of March
The index provider had added 360 ONE WAM, Fertilisers and Chemicals Travancore, BSE and other stocks to FTSE All World Index, and increased weight of ICICI Bank and Kotak Mahindra Bank.
Meanwhile, IT stocks could face pressure on concerns over earnings after global IT consultancy firm Accenture flagged curbs in discretionary spending.
Its shares fell 7.3% overnight.
Asian stocks inched lower in a subdued end to the week as deepening geopolitical worries and fears over US tariffs and their impact on the global economy curbed investors appetite for risk.
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