Indian shares set to open higher on hopes Iran war could end soon
- GIFT Nifty futures were trading at 22,768
India’s equity benchmarks are set to open higher on Wednesday, mirroring gains in Asian peers, as hopes of a potential de-escalation in the Middle East conflict eased concerns over surging oil prices and global inflation.
GIFT Nifty futures were trading at 22,768 as of 7:33 a.m. IST, indicating that the benchmark Nifty 50 will open above Monday’s close of 22,331.4 points.
Indian markets were closed on Tuesday for a local holiday.
US President Donald Trump said Washington could end its military attacks on Iran within two to three weeks, adding that Tehran would not need to strike a deal as a prerequisite for the conflict to wind down.
Brent crude oil prices slipped to $105 a barrel, and Asian markets climbed 3.7% on optimism that the month-long conflict could end soon.
Back home, equity benchmarks fell more than 11% in March, with foreign investors offloading a record $12.7 billion during the month, amid fears that high crude prices could hurt growth and stoke inflation in the world’s third-largest crude importer.