Stock market news: Benchmark indices, NSE Nifty 50 and S&P BSE Sensex are anticipated to open with minimal activity on Thursday, with investors keeping an eye on crucial domestic and US economic indicators. Attention will be particularly drawn towards Reliance Industries and the performance of small- and mid-cap stocks.

GIFT Nifty was trading 0.1 per cent lower at 22,098 as of 8:15 am, indicating a likely opening near the previous day's close of 21,951.15 for the NSE Nifty 50.

However, both the indices are poised for weekly declines, having recorded a decrease of approximately 1.2 per cent this week following two consecutive weeks of gains.

Nifty small-cap and mid-cap stocks are expected to be under scrutiny after the mutual fund industry body of the country urged members to temper inflows into these segments and safeguard investors against significant outflows.

This request from the Association of Mutual Funds in India came after communication from the Securities and Exchange Board of India (Sebi), which urged fund houses to furnish more comprehensive information regarding the risks associated with such funds.

Notably, broader, domestically-oriented indexes have experienced declines of about 2 per cent and 2.5 per cent respectively so far this week, trailing behind the benchmark indices.

Asian markets initiated the day with subdued movements, while Wall Street witnessed declines in equities during the previous session.

Investor attention is directed towards the core personal consumption expenditures price index (PCE), scheduled for release after the closing bell, for insights into the potential timing of the first rate cut by the US Federal Reserve.

Additionally, domestic data, also slated for release after the closing bell, is anticipated to reveal a moderation in India's growth to 6.6 per cent year-on-year in the October-December quarter.

On Wednesday, foreign investors net sold shares worth Rs 1,879 crore, while domestic institutional investors purchased shares valued at Rs 1,827 crore.

In individual stock developments, Reliance Industries will be under the spotlight following the announcement of a merger between the company and Walt Disney, combining their India television and streaming media assets to form an $8.5 billion entertainment entity.

Stocks in focus

• UPL, Shriram Finance: The National Stock Exchange has decided to substitute UPL with Shriram Finance in its Nifty 50 index, effective from March 28.
• Coal India: The company has entered into a joint venture agreement with Bharat Heavy Electricals to embark on coal to chemicals business.
• PB Fintech: A unit of the company has received a registration certificate from the insurance regulator to operate as a composite insurance broker.
• ICICI Securities: The market regulator has issued an administrative warning concerning the inspection of books and records for merchant banking activities of the company.