On Friday, Indian equities posted slight gains driven by revised U.S. first-quarter GDP data that rekindled hopes for possible Federal Reserve rate cuts this year.
While falling oil prices provided some support, the overall gains were limited by hawkish remarks from New York Federal Reserve President John Williams and underwhelming PMI data from China.
The key S&P BSE Sensex edged up 75.71 points, or 0.10%, to close at 73,961.31 amidst cautious trading ahead of the final phase of the Lok Sabha election, due to conclude on Saturday.
With the exit polls imminent, political strategist Prashant Kishor predicted that Narendra Modi's BJP could either match or surpass its 2019 election seat count.
The broader NSE Nifty index advanced 42.05 points, or 0.19%, finishing at 22,530.70, buoyed by a rally in Adani Group stocks.
Adani Enterprises surged 6.9%, and Adani Ports rose 4%, while Tata Steel, Coal India, and Shriram Finance saw gains between 2% and 4%.
Conversely, Dr. Reddy's Laboratories, LTIMindTree, Nestlé India, and Divis Laboratories each saw declines of around 2%.
Global cues were mixed: disappointing PMI data from China weighed on Asian markets, while a rise in Eurozone inflation for the first time this year in May added concerns over the European Central Bank's pace of interest rate cuts.
The U.S. Commerce Department is set to release its report on personal income and spending for April later today, including inflation readings closely watched by the Federal Reserve.
On Thursday, New York Federal Reserve President John Williams indicated no immediate need for interest rate cuts.
Oil prices remained steady in European trading after falling nearly 2% in the previous session, following EIA data that indicated a significant increase in gasoline inventories for the week ending May 24.
Gold appeared directionless but was on track for a fourth consecutive monthly gain.
