Indian markets are set for a positive opening on Thursday, May 14, with GIFT Nifty indicating a gap-up of approximately 150 points as global cues turned broadly supportive overnight — even as crude oil hovering near $107 per barrel and continued FII selling keep the underlying macro environment cautious.
Key results today
Around 148 companies are scheduled to announce their quarterly results on May 14. Among the most closely watched are JSW Steel, Hindustan Aeronautics Limited, Muthoot Finance, Indian Railway Finance Corporation, HUDCO, Apollo Tyres, and Oil India. Additionally, index heavyweights HDFC Bank, ICICI Bank, Reliance Industries, Infosys, TCS, SBI, and Bharti Airtel are expected to remain in focus through the session on the back of recent results and broader sectoral narratives.
FII and DII activity
Foreign institutional investors sold ₹4,703 crore worth of equities in the previous session, continuing their net selling trend amid global risk-off positioning and elevated crude oil prices. FIIs also sold Bank Nifty futures, adding to pressure on the banking segment. Domestic institutional investors countered with net purchases of ₹5,869 crore, providing a cushion against FII outflows. Overall positioning remains mixed, with Thursday being a weekly expiry day — creating conditions for sharp intraday moves in index options.
Global market update
Global cues are broadly positive heading into Thursday’s session. Dow futures were trading approximately 100 points higher. Nasdaq closed strongly, up approximately 300 points — a positive signal for Indian IT stocks after their sharp multi-session sell-off. Nikkei was trading approximately 400 points higher in early Asian trade. Crude oil continues to hover near $107 per barrel — a slight uptick from recent levels — keeping energy import cost concerns alive for India even as equity markets take a constructive near-term view.
Economic calendar
Two important data releases are scheduled for May 14. WPI inflation data for April is due at approximately 12 noon — the previous reading was 3.88% and the April print will be the first to capture the full impact of the Middle East conflict and elevated energy prices on India’s wholesale price index. US Retail Sales data is due at 6 PM IST, providing a read on American consumer health and the Federal Reserve’s policy trajectory.
Indian ADR performance
Dr Reddy’s Laboratories ADR closed approximately 4.25% higher — a strong signal for the stock heading into Thursday’s domestic session. Axis Bank ADR closed on the positive side. However, Infosys ADR, HDFC Bank ADR, and ICICI Bank ADR all closed in the red — a mixed signal for large-cap financials and IT names that will be watched at the open.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult a registered financial advisor before making any investment decisions. Business Upturn does not hold any position in the securities mentioned.