Indian shares seen opening higher, but sentiment guarded on Mideast risks
- GIFT Nifty futures were trading at 23,995.5
India’s equity benchmarks are expected to open higher on Thursday, bouncing off their biggest daily loss in three months in the previous session, but investors remain alert to a fresh flare-up in the Middle East.
The U.S. military said on Wednesday it was launching fresh strikes on Iran aimed at keeping the critical Strait of Hormuz open to shipping, hours after President Donald Trump declared that an interim agreement to end the war was “over.”
GIFT Nifty futures were trading at 23,995.5 as of 7:50 a.m. IST, signalling that the Nifty 50 could open above Wednesday’s close of 23,882.05.
The Nifty 50 and Sensex indexes both lost more than 2% on Wednesday, marking their biggest single day losses in three months, after Trump’s comments.
Brent crude futures hovered around $79 per barrel, as fresh strikes dented hopes for an end to the Iran war and for the full reopening of the Strait of Hormuz.
Foreign investors remained buyers of Indian equities for a sixth consecutive session on Wednesday despite the renewed Middle East conflict. They bought 19.63 billion rupees ($205.44 million) worth of shares, per provisional data.
Investors will closely watch company earnings as India’s largest software exporter Tata Consultancy Services kickstarts results for bluechip companies on Thursday.
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