Indian shares set to open higher; Adani stocks in focus
Indian shares were set to open higher on Friday, after US investment firm GQG Partners' almost-$ 2 billion investment in Adani stocks helped lift sentiment, turning foreign investors into buyers after a six-session hiatus.
India's NSE stock futures listed on the Singapore Exchange were up 0.58% at 17,456.50, as of 8:02 am IST.
Broader Asian markets too were up on Friday, following Wall Street equities ending higher overnight after Atlanta Fed President Raphael Bostic said he favoured a "slow and steady" quarter-point US rate hike in the upcoming policy meeting.
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The MSCI's broadest index of Asia-Pacific shares outside Japan added 0.47%.
Meanwhile, US boutique investment firm GQG Partners Inc bought shares worth $1.87 billion in four Adani group companies, the first significant investment in the Indian conglomerate since a short-sellers critical report sparked a stock rout.
Two analysts said the investments would help investor sentiment in the Adani Group in the short term.
Foreign institutional investors (FII) bought a net 127.71 billion rupees worth of equities on Thursday, aided by the 154.46 bln rupees investment in Adani group companies.
