Indian shares set to open lower as oil prices climb
Indian shares are set to open lower as Brent crude rose to 112 dollars amid Middle East tensions. The rupee hit a record low as foreign outflows persist.
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India equity markets are set to open lower Monday after crude oil jumped to $112 a barrel, a two-week high. GIFT Nifty futures traded at 23,567 in the early morning, signaling a decline from the previous session's close of 23,643.50. Rising energy costs and persistent foreign capital outflows threaten to extend a sell-off that erased 2.2% from the Nifty 50 and 2.7% from the Sensex last week.
