Indian equity markets are poised for a cautious start on Friday, with the Gift Nifty trading around the 24,113 level, reflecting a narrow premium of approximately 17 points over the previous close of Nifty futures.
Despite this marginal upside indicator, the broader global backdrop remains fraught with headwinds that could quickly erode early gains.
Asian markets traded lower in the session, mirroring the weakness that swept through US equities overnight, particularly in the technology sector.
The primary drag on sentiment stems from a pronounced selloff in US chip stocks, with semiconductor names like AMD facing selling pressure.
This tech-led decline in Wall Street has rippled across borders, dampening appetite for risk assets in emerging markets.
Simultaneously, crude oil prices remain elevated, adding a layer of macroeconomic anxiety for India, a net importer of energy.