Indian shares may open higher as traders trim Fed hike bets
Indian shares were on track to open higher on Friday after four consecutive sessions of losses, as fading prospects of a US Federal Reserve rate hike later this month lifted global equities and weighed on bond yields. Federal Reserve Governor Christopher Waller said on Thursday he would support keeping interest rates unchanged at the US central bank’s next policy meeting if upcoming data confirms inflation pressures are easing. Expectations for a rate increase at the Fed’s mid-September meeting came down to roughly 50%, versus about 63% in the prior session, according to CME FedWatch. GIFT Nifty futures were at 24,034.5 points as of 7:48 a.m. IST, indicating a positive start for the Nifty 50 index, which closed at 23,873.45 on Thursday. The Nifty 50 and BSE Sensex are down 1.3% and 1.4%, respectively, for the week, on course for a fourth consecutive weekly loss as higher crude oil prices and bond yields weighed on sentiment. Brent crude futures hovered around $96 per barrel as investors balanced risks from escalating Middle East tensions against hopes for a Russia-Ukraine peace deal. Asian stocks were up 1%. Domestically, concerns over volatility linked to the new stock
