India stock benchmarks to open slightly higher; US-Russia talks eyed
Gift Nifty futures were trading at 24,698 as of 8:00 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above Wednesday's close of 24,619.35.
MSCI's broader index for Asia-Pacific stocks outside Japan (.MIAPJ0000PUS), opens new tab rose 0.2%, adding to Wednesday's rally on prospects of a Federal Reserve rate cut next month.
U.S. President Donald Trump and his Russian counterpart, Vladimir Putin, will discuss a possible deal to end the war in Ukraine when they meet on Friday in Alaska.
Meanwhile, Trump has threatened "severe consequences" if Putin does not agree to peace in Ukraine, but said that a meeting between them could swiftly be followed by a second that would include Ukraine's Volodymyr Zelenskiy.
The talks are being closely watched by market participants in India after Washington imposed an additional 25% tariff on Indian goods over New Delhi's Russian oil imports.
Positive U.S.-Russia talks could help ease U.S.-India trade tensions, according to multiple analysts.
The Nifty and Sensex (.BSESN), opens new tab have risen about 1% so far this week and are set to snap six consecutive weeks of losses, triggered by trade uncertainty and muted quarterly earnings.
Indian markets will be closed on Friday for Independence Day.
** State-run refiner Bharat Petroleum Corp (BPCL.NS), opens new tab reports better-than-expected quarterly profit, helped by a dip in costs and improved fuel demand
** Domino's India operator Jubilant Foodworks (JUBI.NS), opens new tab beats first-quarter profit estimates by a wide margin as lower-priced items on the menu and free deliveries bolstered demand
** United Spirits (UNSP.NS), opens new tab misses profit estimates as higher marketing spends overshadow sustained demand for premium liquor
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After all, they too benefit from peace and inclusive economic development.
