India`s benchmark indexes set to open higher on rate-cut prospects
India's benchmark indexes are set to open marginally higher on Thursday, as expectations of a rate cut later this week to revive economic growth offset concerns over global trade uncertainty.
The GIFT Nifty futures were trading at 23,816, as of 8:11 a.m. IST, indicating that the blue-chip NSE Nifty 50 will open above Wednesday's close of 23,696.3.
Both Nifty and BSE Sensex logged marginal losses in the previous session, with sentiment remaining neutral ahead of the Reserve Bank of India's rate decision on Friday.
The RBI is widely expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy review.
Investors assess the possibility of a rate reduction nearly a week after the federal budget, where the government cut personal tax rates to boost consumption.
The Indian rupee, which weakened to a record low on Wednesday, is expected to become more volatile as Malhotra loosens control over the partially convertible currency amid a rampant dollar, a Reuters poll found.
Other Asian markets inched higher, tracking a positive close on Wall Street overnight. U.S. Treasury yields slid and the dollar fell as investor nerves about a global trade war counterbalanced mixed economic data. [MKTS/GLOB]
Foreign portfolio investors (FPI) have offloaded domestic equities worth $9.23 billion in 2025 so far.
STOCKS TO WATCH
** Swiggy reports wider loss in the December quarter as competition fuels investment surge
** Cummins India's third-quarter profit climbs on steady demand
** Nifty 50 constituents such as State Bank of India, Trent, Bharti Airtel, Hero MotoCorp, Britannia Industries and ITC are due to report their earnings on Thursday
($1 = 87.4000 Indian rupees)
