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Indian markets set for cautious open after US chip selloff

Gift Nifty was around 24,113, about 17 points above the prior Nifty futures close, signaling only a steady start for Indian benchmarks.

Reported · Written up by our desk · Trade & Tariffs

Indian stock benchmarks Sensex and Nifty 50 are expected to open cautiously on Friday after weakness in overseas markets, with US declines tied to a selloff in semiconductor stocks, according to LiveMint Markets.

The report said Asian markets were also trading lower following the Wall Street drop, with MSCI’s Asia Pacific index ex-Japan down 0.06%. It also cited sharp moves in Japan, where the Nikkei 225 fell 3.33% and the Topix declined 1.66%, while Hong Kong Hang Seng index futures pointed to a lower opening.

In the US, the Dow slipped 0.2% to 52,553.32, the S&P 500 fell 0.5% to 7,533.77, and the Nasdaq Composite dropped 1.5% to 25,881.95. Nvidia fell 2.40%, while several other chip and related stocks were down more than 5%, and some storage names declined as much as 12.6%.

For India, the outlet noted that the Sensex ended Thursday up 1.44 points to 77,186.87 and the Nifty 50 fell 5.75 points, or 0.02%, to 24,072.75 amid weak global cues and escalating US-Iran tensions in West Asia. Siddhartha Khemka, head of research at Motilal Oswal Financial Services, said equities are likely to trade sideways to mixed as geopolitical tensions persist and Q1FY27 earnings season gathers pace, making stock-specific action more important.

Latest closeS&P 500 7,533.77 ▼0.5%|Nasdaq Comp. 25,881.95 ▼1.5%|Dow Jones 52,552.97 ▼0.2%

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