Indian Shares Set to Open Lower as Oil Prices Climb to $105
Indian shares are set to open lower as geopolitical tensions push Brent crude to $105. Investors remain cautious after the U.S. signaled intensified military action.
Equity benchmarks in India are set to open lower on Thursday, tracking a 1.2% drop across broader Asian peers. This shift comes as investors react to statements from the United States regarding the conflict in Iran. GIFT Nifty futures were recently trading at 22,359, indicating that the Nifty 50 will open below its previous close of 22,679.40 points.
Market sentiment soured after President Donald Trump indicated that strategic objectives are nearing completion but provided no clear roadmap for ending the conflict. The threat of intensified military action has heightened global anxiety.
The U.S. will strike Iran extremely hard over the next two to three weeks.
This escalation has driven energy prices higher, with Brent Crude Oil climbing 4% to approximately $105 per barrel. In terms of institutional activity, foreign portfolio investors offloaded shares worth 83.31 billion rupees on Wednesday, while domestic institutional investors bought stocks worth 71.72 billion rupees.
Several companies are in focus following recent updates. KARNATAKA BANK LTD reported a 6.9% year-on-year increase in gross advances, with provisional deposits up 3.8% as of March-end. In the energy sector, PACE DIGITEK LTD secured a 4.95 billion rupee order from NTPC LTD for the implementation of a 200 MW battery energy storage system in Bihar.
In the automotive and mining sectors, HERO MOTOCORP LTD posted 24% dispatch growth for the March quarter, while NMDC LTD saw iron ore production surge 51% to 5.35 million tonnes and sales rise 40% during the same period.
