Indian equity markets are set for a difficult session on Friday, with the Gift Nifty pointing to a weak opening as global headwinds intensify.
The pre-market indicator reflects growing investor anxiety driven by escalating geopolitical tensions in the Middle East and a sustained rise in crude oil prices, which continue to dampen risk appetite across emerging markets.
The Sensex and Nifty 50 extended their losing streaks on Thursday, closing lower as traders digested the deteriorating external environment.
The sell-off marks a continuation of the cautious stance that has gripped Indian benchmarks since early July, when indices ended a four-day winning streak amid profit-booking and rising energy costs.
The current weakness suggests that the initial pullback has evolved into a broader sentiment shift, with global equity losses providing little respite for local investors.
Rising crude oil prices remain a critical drag on the Indian economy, given the country's heavy reliance on energy imports.