India’s Nifty and Sensex look to a mixed open on Friday, having settled higher on Thursday.

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• India’s Nifty and Sensex look to a mixed open on Friday, having settled higher on Thursday.
• On Thursday, Nifty and Sensex rebounded firmly in tandem with the IT and auto sector stocks.
• India’s and US PMIs came in mixed, RBI Minutes read hawkish, dismiss premature policy pivot.

The Sensex 30 and Nifty 50, India’s key benchmark indices, are likely to open Friday on a cautious footing, having staged a solid comeback to close in the green on Thursday. The turnaround in Indian indices on Thursday was led by the impressive rebound in the IT and automobile sector stocks.

The risk rally in the Asian and European stock markets on tech-boost also aided the late rebound in the Indian indices. Encouraging earnings report from the US chipmaker Nvidia lifted the overall market sentiment, sending global equities firmly higher.

Mixed Indian and US preliminary business PMI data combined with a hawkish Reserve Bank of India (RBI) meeting Minutes are likely to keep Nifty and Sensex traders on edge. Further, Gift Nifty futures are printing small losses, indicating a subdued open on Nifty and Sensex indices.

The National Stock Exchange (NSE) Nifty 50 ended 0.74% higher on the day at 22,217.45 while the Bombay Stock Exchange (BSE) Sensex 30 also added 0.74% on Thursday to settle at 73,158.24.

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