Indian markets set for flat open as GIFT Nifty signals tepid start to trading
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Summary: The GIFT Nifty spoiled the mood, influenced by mixed global trends and investor concerns.
Indian markets had a slow start on Wednesday, thanks to GIFT Nifty futures trading flat ahead of the domestic day. The overseas signal, which is typically used to forecast the Nifty 50's early mood, maintained at previous levels, signaling no price movement as Dalal Street prepared to open.
Asian markets were uneven overnight, with some indexes rising while others fell, contributing to investors' cautious mood. This came on the back of sluggish U.S. jobs data, which did little to clarify the Federal Reserve’s next move on interest rates, leaving traders in a wait‑and‑watch stance.
Domestic sentiment remains fragile, too. Foreign institutional investor outflows and uncertainty over trade negotiations with global partners have contributed to recent volatility in broader indices.
Analysts predict the key indices to continue in a limited range as traders assess global cues and new domestic events. Support and resistance levels remain crucial monitoring points for the day, with the Nifty's quick reaction to its present bands.
Overall, the market's tone indicates that investors are avoiding major stakes until clear signals surface on both world policy direction and domestic economic data - a backdrop that may keep trade limited and cautious for the time being.
