Alright, so here’s the deal. Indian markets are all set for a flat opening, and it looks like they might be leaning towards a negative start. The current GIFT Nifty levels are pointing in that direction, sitting at 24,915. Not the best news for investors, but hey, that’s just how the cookie crumbles sometimes.
What’s the story behind these numbers? Well, the Nifty May and June futures values are hanging around 24,880 and 24,972.80, respectively. This kind of setup usually indicates a flat opening, with analysts predicting a consolidation phase and a possible slowdown in the current pullback rally. The F&O settlement week is also looming (NSE monthly contacts expiring this Thursday), so individual stocks might be in for a wild ride.
Puneet Singhania, Director at Master Trust Group, chimed in with his two cents, mentioning that the markets are likely to be swayed by a mix of global and domestic cues. Volatility could spike due to the anticipated announcement of a new US tax policy, which might have long-term effects on global investment flows. On the home front, all eyes are on the Q4 FY25 earnings season, with investors eagerly awaiting management commentary and sectoral trends. Oh, and let’s not forget about India’s Q1 FY25 GDP data, expected to come in at 6.0% YoY. Talk about a rollercoaster of economic indicators, right?