Indian Shares Set For Weak Start Amid FPI Outflows

(RTTNews) - Lower GIFT Nifty futures, a mixed trend in Asian markets and the overnight weak close on Wall Street point to a weak start for Indian shares on Thursday. Elevated oil prices and bond yields remain a dampener as well.

Heavy selling by foreign institutional investors over the past several sessions has resulted in a sharp erosion in values. FPIs sold shares worth a net Rs 10,150 crore on Wednesday (October 30) after pulling out Rs 9,940 crore a day earlier. Infosys will be in focus following the company extending its strategic partnership with ABN Amro to support the bank in expanding the adoption of artificial intelligence across its operations.

Adani Ports & Special Economic Zone may see action, after its $750 million Phase II facility at Colombo's West International Terminal was inaugurated on Wednesday.

NCC has secured two orders worth a combined ?500.22 crore, excluding GST, during September 2026. The orders comprise ?224.74 crore from the Buildings Division and ?275.48 crore from the Transportation Division.

Despite staying positive for most part of the trading session, key Indian stock indices Sensex and the Nifty50 ended weak on Wednesday due to heavy selling at several counters in the final hour.

Elevated oil prices and heavy selling by foreign portfolio investors contributed to market's sharp slide in the closing minutes. FPIs had sold shares worth a net Rs 9940 crore (approximately) on Tuesday.

U.S. stocks moved mostly higher in early trading on Wednesday but gave back ground over the course of the session. Among the major averages, the Dow and the S&P 500 ended the session at their worst levels of the day. The Dow slid 443.87 points or 0.9% to 50,906.05, while the S&P 500 dropped 19.30 points or 0.3% to 7,651.54. The tech-heavy Nasdaq ended up 63.52 points or 0.2% at 26,861.06.

Data from the Commerce Department showed consumer prices rose by less than expected on a monthly basis in August, while the annual rate of price growth also came in below estimates.

While the annual rate of consumer price growth remains well above the Federal Reserve's 2% target, traders may have felt the data reduced the likelihood the central bank will raise interest rates next month.

According to CME Group's FedWatch Tool, the chances the Fed will raise rates by a quarter point have fallen to 34.9% from 50.9% on Tuesday.