Indian stock markets are likely to open lower on Thursday amid weak global cues and persistent foreign selling.

Gift Nifty at 22,545 signals a gap-down opening of over 100 points. Asian equities were down around 1 per cent in early trade.

Foreign investors sold Indian shares worth Rs 61.21 billion on Wednesday. It was their ninth consecutive session of selling.

All eyes will be on Tata Consultancy Services. The country’s biggest software exporter announces its Q2 and H1 results today.

Analysts expect modest revenue growth but healthy margin expansion. The focus will be on the company’s outlook and AI spending.

The RBI’s more hawkish stance could keep markets under pressure. Rate-sensitive sectors may feel the impact the most.

On Wednesday, the Sensex fell 429 points to close at 72,638.70. The Nifty declined 173 points to 22,603.05.

Elevated crude prices and geopolitical risks are adding to concerns over inflation, the import bill and the rupee.