Indian equities are likely to come under pressure on Friday amid negative global cues.
Gift Nifty slipped around 1 per cent on Thursday. Nifty futures at Gift City (8 pm IST) is hovering around 22,590 against Nifty futures at 22,812 on the NSE. Global stocks slid after US March inflation data came in hotter than expected, with a 3.5 per cent increase in consumer prices for the year to March. This has raised the probability of the US Federal Reserve maintaining a status quo in June, keeping interest rates higher for longer, and resorting to two rate cuts instead of three this year.
Fed officials are worried that progress on inflation has…
