India's benchmarks set to open lower
Feb 21 (Reuters) - India's benchmark indexes are likely to open lower on Friday, adding to the declines seen so far this month, as nervousness around reciprocal U.S. tariffs and persistent foreign selling continued to dent risk sentiment.
The GIFT Nifty futures were trading at 22,863 as of 08:20 a.m. IST, indicating that blue-chip Nifty 50 (.NSEI), opens new tab will open below Thursday's closing level of 22,913.15.
Most Asian markets were down on the day, tracking overnight losses on Wall Street.
There is an absence of a clear trend, reflecting uncertainty in the Indian markets, with attempts by bulls to absorb dips failing to sustain over the last four sessions, analysts said.
Concerns over U.S. trade policy and relentless foreign selling have added to the prevailing risk-off sentiment, they said.
Foreign portfolio investors (FPIs) have sold Indian shares worth $11.75 billion so far in 2025, including 33.12 billion rupees ($382.6 million) on Thursday.
Both the Nifty and BSE Sensex (.BSESN), opens new tab closed at their lowest since early June on Thursday. They have lost 2.5% and 2.3% so far this month.
The benchmarks are trading 12.6% and 12% off their record high levels hit in September.
STOCKS TO WATCH
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** Citi says earnings in fiscal year 2025 could end "on a ugly note" for India's oil marketing companies, such as Bharat Petroleum Corp (BPCL.NS), opens new tab, Hindustan Petroleum Corp (HPCL.NS), opens new tab and Indian Oil Corp (IOC.NS), opens new tab
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