Gift Nifty signals weak start for equities as higher crude prices stoke inflation concerns
Minutes of the rate-setting panel's meeting, released on Wednesday, showed that members indicated further interest rate hikes may be needed to contain inflation.
The Indian equity markets are likely to open lower on Thursday, extending losses for a third straight session, as the escalating conflict in West Asia keeps crude oil prices above USD 110 per barrel and fuels inflation concerns. GIFT Nifty futures were trading at 22,648.5 around 8:30 am, indicating a weak start for the benchmark Nifty, which closed at 22,811.35 on Wednesday. The Nifty and Sensex have declined 1.5 percent and 1.4 percent, respectively, so far this week.
