Indian shares set for positive start on talks to end Iran war, strong Reliance earnings
- GIFT Nifty futures were at 23,258.5
Indian shares are set to open higher, buoyed by falling oil prices amid Iran war talks and strong quarterly profits from Reliance Industries, signaling a positive market sentiment.
- Impact of falling oil prices on market sentiment.
- Reliance Industries' better-than-expected quarterly profit.
- Foreign investor activity and market recovery trends.
Indian shares are expected to open higher on Monday as oil prices fell from a six-month high on talks to end the Iran war, while conglomerate Reliance Industries reported higher-than-expected profit for the September quarter.
GIFT Nifty futures were at 23,258.5 as of 7:58 a.m. IST, indicating a positive start for the benchmark Nifty 50, which closed at 23,053.1 on Friday.
Brent crude futures dropped to $111 per barrel on Monday from their six-month high of $118 on Friday, as Iranian and Qatari officials held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran.
“Discussions involving Iranian officials and Qatari mediators have raised hopes of a possible breakthrough that could ease supply concerns and improve the outlook for global energy markets,” said Ponmudi R, chief executive officer at stock broking platform Enrich Money.
Foreign investors bought 36 billion rupees ($379.53 million) of Indian shares on Friday, as per provisional data. This would be their sixth session of buying in the last ten trading days, indicating signs of a return after an aggressive selloff so far in 2026.
Indian shares ended a two-month losing streak in October, with the benchmark Nifty 50 and BSE Sensex indexes rising 1.9% and 2.7%, respectively, lifted by IT stocks, resilient earnings and hopes of relief on capital gains tax.
Reliance Industries , India’s largest company by market cap, beat expectations with a 40.6% surge in quarterly net profit, delivered by strength in its energy and digital services arm Jio Platforms.
Jio Platforms, which made a blockbuster debut last week to become India’s second biggest company by market cap, registered 13.7% growth in quarterly net profit.