Indian shares likely to open steady as US-Iran talks ease escalation fears
- GIFT Nifty futures were at 24,093
Indian shares are set for a muted open on Monday after posting their longest weekly winning streak of 2026, as investors weigh support from renewed US-Iran diplomacy against lingering geopolitical risks.
GIFT Nifty futures were at 24,093, as of 8:07 a.m. IST, indicating the Nifty 50 could open near 24,056 points, the closing level of the previous session.
Other Asian markets fell 0.4%, while Brent crude prices rose 0.8% on cautious sentiment after recent tensions in the Middle East.
Diplomatic efforts between Washington and Tehran appear to be back in focus after several days of retaliatory strikes, triggered by an Iranian projectile hitting a cargo vessel in the Strait of Hormuz last week.
Both sides have since accused the other of violating an interim ceasefire, keeping investors alert to any escalation that could affect oil prices and risk appetite.
“Indian markets are expected to trade on a cautious note after the renewed flare-up in geopolitical tensions,” said R Ponmudi, chief executive officer of Enrich Money.
“That said, broader diplomatic and peace negotiations between the US and Iran remain underway, offering hope that tensions can be contained.”
Domestic stock benchmarks logged a third consecutive weekly gain on Thursday, their longest winning streak in seven months, as crude oil prices fell to pre-Iran-war levels and recent measures to support the rupee and attract overseas inflows lifted sentiment.
Foreign portfolio investors bought domestic equities worth 3.84 billion rupees on Friday, while domestic institutional investors’ inflow stood at 57.48 billion rupees.
Meanwhile, investors await an imminent reshuffle of the Union Council of Ministers, likely before the Monsoon Session of Parliament, news agency PTI reported, citing sources.