Stock Market Investors Eye Global Cues Before May 14 Opening Bell

Indian equity markets are expected to open on a firm note on Thursday, with the GIFT Nifty rising 0.59 per cent to 23,561 in early trade, signaling positive momentum for benchmark indices after a volatile week. Investor sentiment is being supported by gains in global markets and optimism around technology stocks, even as concerns persist over inflation, oil prices and geopolitical tensions linked to the Iran conflict.

Domestic markets ended the previous session with marginal gains after sharp losses earlier in the week. The Nifty reclaimed the 23,400 mark at close, while the Sensex ended around 50 points higher. Analysts said investors remained cautious amid global uncertainty, but buying in select heavyweight stocks helped markets recover from recent weakness. In derivatives trade, Nifty May futures traded at a premium of 68.40 points, while the maximum call open interest stood at 25,000 and maximum put open interest at 22,000 for the May 19 expiry.

Global market cues remained mixed. US markets closed at record highs, led by gains in major technology companies as investors looked past stronger-than-expected inflation data. The S&P 500 rose 0.58 per cent, while the Nasdaq 100 gained more than 1 per cent. Asian markets traded mixed on Thursday ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing. Meanwhile, oil prices remained elevated due to concerns surrounding the Iran conflict, while gold prices declined amid expectations that the US Federal Reserve may maintain higher interest rates.

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Several companies are expected to remain in focus due to quarterly earnings and corporate developments. Bharti Airtel reported a rise in quarterly profit and approved a major stock-swap transaction involving Airtel Africa. Oil India posted a sharp jump in profit, while NLC India and Metropolis Healthcare also delivered strong earnings growth. On the other hand, DLF and Man Infraconstruction reported pressure on margins and profits.

Stocks likely to remain active include Zydus Lifesciences after announcing plans to consider a share buyback and an overseas acquisition, IDBI Bank over plans to raise up to Rs 10,000 crore through long-term bonds, and Easy Trip Planners following approval of a Rs 500 crore rights issue. Infrastructure and construction-related firms including PNC Infratech, Ashoka Buildcon and NBCC India also announced fresh project wins and operational milestones.

Currency markets remained under pressure as the Indian rupee weakened to a record low of 95.71 against the US dollar. Analysts attributed the decline to rising crude oil prices, increased import costs and broader global uncertainty linked to the Iran conflict. Market participants are expected to closely track global geopolitical developments, oil price movements, inflation data and corporate earnings for further direction in Thursday’s trading session.

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