The Indian markets are set to open on a muted note after the GIFT Nifty futures tracked mixed global cues. At 8:20 am, the GIFT Nifty futures were trading higher by 21 points or 0.08% from its previous closing, at 24,094.

The US bourses closed with marginal gains. Nasdaq and S&P 500 grew by 0.03% and 0.3%, respectively, while recording new 52-week highs.

Whereas the Dow Jones Industrial Average fell by 0.48%. American investor sentiment, too, was lifted after a reading of cooler-than-expected inflation data supported expectations that the US Federal Reserve will cut interest rates next week. The consumer price index (CPI) data, due to be released today, acts as a final piece to gauge the Federal Reserve’s rate cut plans.

Meanwhile, the Asian markets were a mixed bag as Japan’s Nikkei 225 index advanced 0.92%, Singapore’s Straits Times was up by 0.08% and the Shanghai Composite by 0.21% but Hong Kong’s Hang Seng declined by 0.78%.

In commodities, Brent Crude and crude oil both saw a marginal rise of 0.02% and 0.04%, as news of Poland shooting down Russian drones in its territory further escalated geopolitical tensions. The day before, oil prices had marginally increased after Israel claimed that it had attacked the Hamas leadership in Doha.

In yesterday’s session, the 30-share BSE Sensex climbed 324 points, or 0.40%, to close at 81,425, while the NSE Nifty gained 104 points, or 0.42%, to settle at 24,973. Infosys emerged as the top gainer, followed by Dr. Reddy's Labs, Wipro, Tech Mahindra, and Adani Ports. Eternal continued its downward trend along with Trent, followed by Jio Financial, Tata Motors, and Titan Company.

Stocks in focus today:

Infosys: The Indian IT giant’s board will be meeting today to consider a buyback proposal.

Tata Motors: The company’s British subsidiary, Jaguar Land Rover, on Wednesday said some data had been stolen in a cyber attack amid a prolonged shutdown of its factories in the United Kingdom.

Dr. Reddy’s: The pharmaceuticals company announced the completion of a definitive transaction with Johnson & Johnson to acquire STUGERON and its locally recognised brands, Stugeron Forte and Stugeon Plus, across 18 markets in the APAC and EMEA regions, with India and Vietnam as key markets.