Indian Shares Set for Slight Lower Opening

Indian stock markets are expected to open slightly lower on August 29, 2024, reflecting declines in Asian and U.S. markets, particularly in technology stocks. The GIFT Nifty was noted at 25,014, indicating a slight dip from its previous close of 25,052.35. Despite the benchmark Nifty 50 reaching a record high recently, profit booking has curbed gains, with investors remaining cautious ahead of key U.S. economic data releases. Reliance Industries is in the spotlight following the approval of its $8.5 billion merger with Walt Disney, while monthly derivatives expiry may contribute to market volatility. Additionally, geopolitical tensions and external market pressures are influencing investor sentiment, as seen in the mixed performance of international indices. Overall, while there are potential supports such as corporate mergers, the market outlook remains cautious amidst broader economic uncertainties.