Indian equity markets were likely to open on a cautious, negative note on Thursday, October 22, as GIFT Nifty signalled a muted start and persistently high crude oil prices weighed on sentiment, Livemint reported.
Source: Livemint
ScanX put GIFT Nifty at 22,643.50, down 0.46 per cent, while a separate pre-market update from DSIJ quoted it at 22,679.50 at 6:59 am IST, 131.85 points or 0.58 per cent below Wednesday's Nifty 50 close of 22,811.35 — the two readings, taken minutes apart, pointed in the same downward direction. The Nifty had closed 0.34 per cent lower at 22,811.35 on Wednesday and the Sensex 0.19 per cent lower at 73,709.69, according to ScanX.
Source: ScanX
"Indian equity markets are likely to open on a cautious note and remain under pressure, as persistently high crude oil prices and escalating geopolitical tensions weigh on investor sentiment," Ponmudi R, CEO of Enrich Money, told Livemint, noting WTI crude near $98 a barrel and Brent above $110.
Asian markets added to the pressure, with Hong Kong's Hang Seng down 2.52 per cent and Japan's Nikkei down 0.97 per cent in morning trade, ScanX reported. Against that, foreign institutional investors were net buyers of ₹1,022.32 crore and domestic institutional investors of ₹1,614.32 crore in the previous session, and US markets had closed higher overnight, according to ScanX and DSIJ.
Source: DSIJ
Whether the early GIFT Nifty weakness survives the opening bell depends on crude prices, Asian cues and institutional flows — pre-market signals are indications, not a guaranteed opening level.