Indian shares set for flat open amid foreign outflows
Indian equities are expected to open little changed on Tuesday as persistent foreign selling counters relief from a pause in Israel-Iran strikes. IT stocks are in focus after a U.S. judge blocked a new H-1B visa fee that threatened to raise costs for domestic firms.
India equities are set to open flat on June 9 as GIFT Nifty futures trade at 23,122.5. The benchmark Nifty 50 index sits near a two-month closing low following seven straight sessions of foreign selling. Investors are weighing cooling Middle East tensions against persistent capital outflows totaling 55.56 billion rupees on Monday.
GIFT Nifty futures indicate the Nifty 50 will open near Monday's closing level of 23,123. Foreign investors sold 55.56 billion rupees ($580.56 million) in shares on Monday, provisional data showed. These exits add to record outflows from Indian equities seen so far this year.
