Indian equity markets are set for a mildly positive opening with GIFT Nifty pointing upward, backed by a welcome pullback in Brent crude oil to 103 to 104 dollars per barrel as Saudi Arabia works to restore its East-West pipeline. However, sustained oil prices above 100 dollars per barrel continue to pose an inflationary threat, while broader market sentiment remains constrained by global central bank tightening after the US Federal Reserve raised interest rates by 25 basis points to 3.75 to 4.00 percent and signaled potential further hikes. This hawkish shift has pushed US 10-year yields to nearly 4.95 percent, triggering foreign portfolio outflows and keeping the Rupee vulnerable around 95.93 per dollar despite active Reserve Bank of India intervention. To manage domestic liquidity and yields, the RBI successfully executed the first tranche of its 50,000 crore rupees Open Market Operation bond sales, receiving 66,590 crore rupees in bids with additional tranches scheduled for later this month. Despite macro headwinds from elevated funding costs and geopolitical risks surrounding Middle East shipping lanes, India’s economic foundation is strongly supported by a record 785.7 billion dollars in foreign exchange reserves, with key developments today focused on the Bank of Japan’s policy decision, post-Fed commentary, and investor participation in the high-profile 2.3 billion dollar NSE IPO.