Nifty, Sensex eye flat open as global concerns persist

Stock market news: Indian stock markets are likely to see a flat opening on Thursday, following a three-day decline of nearly 3 per cent. Investor sentiment remains cautious due to fading expectations of an early interest rate cut by the US Federal Reserve and ongoing geopolitical tensions in the Middle East.

US rate worries

Federal Reserve Chair Jerome Powell's comments refraining from guidance on future rate adjustments have dampened hopes for a near-term cut, a potential negative for emerging markets like India. The ongoing friction between Israel and Iran keeps investors on edge, adding to the risk aversion.

GIFT Nifty was trading at 22,199 as of 8:18 am, indicating that the Nifty 50 will open near its Tuesday's close of 22,147.50. Asian markets show marginal gains, while US markets fell overnight.

Foreign investors continue to pull funds from Indian equities, with net selling exceeding Rs 44.68 billion on Tuesday. Domestic institutional investors, however, have been net buyers for the past six trading sessions.

Stocks in focus

• Bajaj Auto, Infosys, and HDFC Life Insurance are scheduled to report earnings.
• Tata Communications reported a decline in quarterly profit.
• ICICI Lombard General Insurance and Angel One witnessed profit growth in their respective quarters.