Indian markets set for weak start as GIFT Nifty signals lower open

Indian stock markets are expected to open lower on Wednesday, as GIFT Nifty futures traded down 50 points at 23,710, signaling a negative start for Dalal Street. The benchmark Nifty had risen 1.6% to close at 23,810 on Tuesday, marking its fourth consecutive session of gains, supported by easing crude prices and continued foreign fund inflows. Analysts expect consolidation with a positive bias after the index gained 4.3% over the last four sessions. India VIX rose 1.4% to 15.72, while the rupee appreciated 9 paise to 94.75 against the dollar. Foreign portfolio investors net bought shares worth Rs 6,836 crore, though domestic institutional investors were net sellers at Rs 3,679 crore.