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India's equity benchmarks are set to open higher on Wednesday, mirroring gains in Asian peers, as hopes of a potential de-escalation in the Middle East conflict eased concerns over surging oil prices and global inflation.

GIFT Nifty futures were trading at 22,768 as of 7:33 a.m. IST, indicating that the benchmark Nifty 50 will open above Monday's close of 22,331.4 points.rew

Indian markets were closed on Tuesday for a local holiday.

U.S. President Donald Trump said Washington could end its military attacks on Iran within two to three weeks, adding that Tehran would not need to strike a deal as a prerequisite for the conflict to wind down.

Brent crude oil prices slipped to $105 a barrel, and Asian markets climbed 3.7% on optimism that the month-long conflict could end soon. [MKTS/GLOB]

Back home, equity benchmarks fell more than 11% in March, with foreign investors offloading a record $12.7 billion during the month, amid fears that high crude prices could hurt growth and stoke inflation in the world's third-largest crude importer.

STOCKS TO WATCH

** Auto stocks will be in focus as companies announce their monthly sales numbers for March

** IndiGo appoints industry veteran Willie Walsh as CEO, tapping the voice of the global airline industry from lobby group IATA to steer India's largest carrier out of a recent operational crisis and drive its overseas expansion

** Jubilant FoodWorks will not renew its agreement with U.S.-based Dunkin to develop and operate stores in the country after the pact expires on December 31, 2026

** Citi initiates coverage on Tenneco Clean Air India with a "buy" rating on attractive revenue growth prospects, strong parentage of Tenneco Group and healthy margin trends