Indian shares poised to open lower as Mideast war lifts crude, spurs risk-off mood
Indian shares are set to open lower on Friday, with sentiment unsettled as escalating U.S.-Israeli hostilities with Iran fuel fears of a deeper energy supply shock that could push crude higher, reignite inflation and cloud the global growth outlook.
The Gift Nifty futures were trading at 24,649 points as of 8:10 a.m. IST, indicating that the benchmark Nifty 50 will open below Thursday's close of 24,765.9.
Both Nifty and Sensex rose about 1.1% each on Thursday, in a partial pullback after this week's sharp selloff sparked by the Middle East crisis. [.BO]
Markets showed signs of stabilising in the last session, but intensifying war in the Middle East for the sixth day has kept crude prices elevated, fuelling near-term inflation concerns and risk aversion, two analysts said.
Asian shares fell 0.7% at the open, while Wall Street closed lower overnight and the U.S. dollar firmed as hostilities involving the United States, Israel and Iran deepened.
