Indian shares set to rise as US-Iran talks progress, oil eases

Indian shares are set to open higher on Monday, tracking gains across Asian markets after signs of progress in U.S.-Iran peace talks eased concerns that ​negotiations were at risk of collapsing.

GIFT Nifty futures were trading at ‌24,129.50 as of 7:52 a.m. IST, indicating the Nifty 50 could open above Monday’s close of 24,013.10.

Broader Asian markets rose 0.7%, while Brent crude fell 1.4% and stayed below $80 a barrel, ​offering relief to oil-importing economies.

A joint statement from Qatar and Pakistan said ​the first round of U.S.-Iran talks had ended with progress on a ⁠roadmap for a final deal within 60 days.

The update helped calm investor ​nerves after U.S. President Donald Trump threatened fresh strikes on Iran, even as Vice President ​JD Vance met Iranian officials for the first talks under an interim peace deal.

Meanwhile, India’s shipping minister said on Saturday that three Indian-flagged tankers carrying more than 860,000 metric tons of oil ​had safely crossed the Strait of Hormuz, which handles about a fifth of ​global oil supply.

Domestic benchmarks Nifty 50 and Sensex rose about 1.7% each last week, supported by ‌lower ⁠oil prices, though they snapped a five-session winning streak on Friday as IT stocks fell after Accenture’s weak demand forecast.

Foreign portfolio investors bought Indian shares worth 48.59 billion rupees ($515.2 million) on Friday, the highest daily inflow since early February, while domestic ​institutions sold 11.6 ​billion rupees.

Among stocks, ⁠Reliance Industries will be in focus as investors assess objectives laid out at its annual general meeting on Friday.