Key Takeaways
- Indian shares expected to open marginally higher due to lower oil prices.
- Tata Sons reappoints N. Chandrasekaran as chairman and considers public listing.
- Five Indian IPOs currently open for subscription, potentially limiting market gains.
Indian shares are poised to open marginally higher on Friday, buoyed by a decline in crude oil prices, according to market analysts.
The GIFT Nifty futures, a key indicator of the benchmark Nifty 50 index, were trading around 23,329.5 points as of 8:30 a.m. IST, suggesting a positive start for the market.
Crude oil prices, which are crucial for India's economy due to its heavy reliance on imports, fell by 0.8% to $104 a barrel, easing inflation concerns for major oil importers.
Despite the positive start, geopolitical risks in the Middle East and the ongoing rush of initial public offerings (IPOs) may limit the upside for the market.
Tata Sons has reappointed N. Chandrasekaran as chairman and announced plans to consider a public listing, drawing attention to the Tata group's stocks.
The shareholder Shapoorji Pallonji Group has proposed selling part of its stake, adding to the market's focus on major corporate moves.
Five Indian IPOs are currently open for subscription, including the National Stock Exchange of India's issue, which was subscribed 0.43 times on the first day of bidding.
Traders noted that the rush of new offerings could divert liquidity away from secondary-market stocks, potentially keeping broader market gains contained.
The Nifty and Sensex are down 0.5% and 0.6%, respectively, so far this week, on course for a sixth consecutive weekly decline.
Foreign institutional investors have been net sellers for seven straight sessions, with outflows of 32.09 billion rupees on Thursday, while domestic institutional investors bought shares worth 36.18 billion rupees, according to provisional NSE data.
