Indian equities to open flat as geopolitical tensions offset earnings optimism
- The Gift Nifty futures were trading at 26,209 points
Indian shares are likely to open little changed on Wednesday, as geopolitical tensions and tariff worries temper optimism around earnings growth, while keeping benchmark indexes close to record highs.
The Gift Nifty futures were trading at 26,209 points as of 7:51 a.m. IST, indicating that the Nifty 50 would open near Tuesday’s close of 26,178.70.
The 50-stock index is 0.7% below its record high, while the BSE Sensex is 1.3% off its lifetime peak.
The benchmarks have fallen for two consecutive sessions in a pullback from near record levels, partly driven by fresh tariff threats from U.S. President Donald Trump over India’s Russian oil purchases.
India’s oil imports from Russia are expected to drop sharply in January after private refiner Reliance Industries said it does not expect any deliveries during the month.
Meanwhile, oil prices declined as investors assessed the supply outlook after Trump announced a deal with Venezuela under which Caracas will export up to $2 billion worth of crude to the United States.
Back home, investors will continue to track quarterly business updates, with markets anticipating a strengthening in earnings growth.
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