Indian Markets Eye Bounce as GIFT Nifty Hits 24,023

Indian equity markets are set to bounce back on Friday, ending a four-day losing streak. The GIFT Nifty, which tracks market sentiment before trading begins, indicates a firm start near the 24,023 level.

This comes after a rebound in US markets overnight, with strong gains following comments from Federal Reserve Governor Christopher Waller that hinted at a more measured approach to interest rates if inflation moderates. This commentary helped lower US Treasury yields, leading to a rally in global equities and easing pressure on riskier assets.

Domestic institutional investors emerged as net buyers in the previous session, adding 4,977 crore to their holdings. However, market participants remain cautious due to external factors such as rising crude oil prices, which are near $97 per barrel, and upcoming US nonfarm payroll data.