Indian equity markets are expected to open on a weak note on Friday, tracking the subdued trend in global markets. According to reports from ET Now, GIFT Nifty was down 0.4 per cent, or 84 points, at 24,087 as of 8:10 AM, acting as an early indicator of market sentiment. The decline suggests a cautious start for Indian equities, with the bearish trend across Asian markets expected to weigh on domestic indices.
Despite expectations of a weaker opening after the domestic markets ended the previous session nearly flat, SEBI-registered Research Analyst Kunal Bothra has identified select stocks that could offer trading opportunities during the July 17 session. As reported by ET Now, Bothra has recommended Samvardhana Motherson International with a share price target of ₹149 and SRF Ltd with a target of ₹2,970. Both stocks are positioned for potential gains of approximately 3.7% and 2.8% respectively.
The bearish trend across Asian markets is contributing to the negative sentiment for Indian equities. According to ET Now, Hong Kong's Hang Seng Index slipped 1.7 per cent to trade at 24,589.90, while Japan's Nikkei 225 declined nearly 4.4 per cent, slipping 2,939.06 points to 63,896.48. This weakness in major Asian markets is expected to weigh on Indian equities and potentially lead to a weak opening for domestic indices.
During the previous trading session on July 16, Indian markets showed mixed performance despite the current negative outlook. As reported by ET Now, the BSE Sensex climbed 394.26 points, or 0.51 per cent, to 77,579.69, but pared gains towards the end of the session. The 50-share NSE Nifty dipped 5.75 points, or 0.02 per cent, to end at 24,072.75, indicating some volatility in the final trading hours of the session.
