India’s benchmark indexes are likely to open higher on Wednesday, tracking positive cues from global equities on improved sentiment as tensions in the Middle East eased following a shaky ceasefire between Israel and Iran.
The Gift Nifty futures were trading at 25,182 points, as of 7:50 a.m. IST, indicating that the Nifty 50 will open above the previous close of 25,044.35 points.
The MSCI World index hit a peak, and Asian and emerging market stocks climbed to their highest levels since early 2022 on ceasefire optimism.
Back home, benchmark Nifty and Sensex inched closer to their nine-month highs intraday on Tuesday, but succumbed to profit booking after news of the initial ceasefire violation.
Indian shares set to open higher on ceasefire optimism, weaker oil prices
However, Iran and Israel signalled that the air war between them had ended, at least for now, after U.S. President Donald Trump publicly scolded them for violating a ceasefire he announced.
The tensions in the Middle East have pushed oil prices higher, which does not bode well for India as it relies on imports for most of its energy needs.
Foreign portfolio investors sold Indian shares worth 52.66 billion rupees ($612.8 million) on Tuesday, as per provisional data.
The focus will also be on the launch of HDB Financial Services’ $1.5 billion initial public offer, India’s largest so far this year. The non-bank lender raised 33.69 billion rupees ($392 million) from anchor investors on Tuesday.
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