Indian Markets Set for Negative Open: FII Outflows & IT Sector Woes
By Sivam
Indian markets anticipate a cautious opening amid significant FII outflows and IT sector concerns following Accenture’s guidance. Global cues mixed.
Indian Markets Brace for Negative Opening
Indian equity markets are set for a cautious start on Friday, driven by significant foreign institutional investor (FII) selling and concerns surrounding the IT sector’s growth outlook.
This comes despite a positive close for US markets on Thursday, which saw semiconductor shares leading gains.
Key Market Drivers
- FII Outflows: Foreign Institutional Investors turned net sellers, offloading equities worth ₹1,025.20 crore on Thursday.
- IT Sector Headwinds: Accenture’s softer revenue guidance has cast a shadow over the IT sector, placing these stocks in focus.
Global Cues and Trade Talks
Globally, US markets ended higher, fueled by optimism for a Middle East peace deal and despite worries about a hawkish Federal Reserve.
The US Labor Department reported initial jobless claims dipped to 226,000, slightly above the street’s expectation of 225,000.
Separately, Prime Minister Narendra Modi and US President Donald Trump have directed officials to swiftly finalize a trade pact, indicating ongoing bilateral discussions.