Indian shares set for muted start as higher oil prices, Treasury yields weigh

Indian shares were expected to open little changed on Wednesday, with elevated crude oil prices and rising global bond yields weighing on appetite for risk assets.

GIFT ​Nifty futures were at 24,202.5 points, as of 7:19 a.m. IST, ‌indicating a muted start for the benchmark Nifty 50 index, which closed at 24,154.9 on Tuesday.

The 50-stock index has dropped for six straight sessions, losing 1.7%.

US President Donald Trump said on ​Tuesday no talks were taking place with Iran and insisted the Strait of Hormuz ​was open, contradicting Iran’s assertion that the critical waterway remained shut ⁠to shipping.

The receding prospects of a deal to end the nearly six-month-old conflict ​in the Middle East drove Brent crude futures higher to $92 per barrel.

Long-term borrowing costs from ​the United States to Germany and Japan hit their highest in decades on Tuesday due to ballooning government debt and geopolitics, raising borrowing costs for companies and households and complicating policy.

Asian stock markets ​were down 1.8%, following overnight losses on Wall Street led by technology stocks ​due to higher bond yields.

Higher Treasury yields make India and other emerging markets relatively less attractive ‌for foreign ⁠investors, who have already sold a record $25 billion worth of Indian shares so far in 2026.

Foreign investors net bought Indian shares worth 16.52 billion rupees ($172.66 million) on Tuesday, according to provisional data, in what would be their second session of buying in ​six days.

Investors also ​await minutes of the ⁠U.S. Federal Reserve’s July policy meeting scheduled for release later in the day and Fed Chair Kevin Warsh’s remarks at the ​Jackson Hole Symposium next week.