Indian shares to see muted start on caution over US strikes in Iran
India's equity benchmarks are likely to open little changed on Tuesday, on caution over fresh U.S. strikes in southern Iran against targets including boats attempting to lay mines and missile launch sites.
The U.S. called the strikes, which come at a time when the two sides are in talks to end the three-month-old war, as defensive action.
GIFT Nifty futures were at 24,035, as of 7:17 a.m. IST, indicating the benchmark Nifty 50 would open near Monday's close of 24,031.7.
Brent futures rose to over $98 per barrel, while stocks were mixed globally as investor optimism over an imminent U.S.-Iran peace deal was tempered by the new strikes. [MKTS/GLOB]
The war has roiled energy markets, triggering concerns over its impact on inflation and growth in India - the world's third-biggest crude importer.
Indian benchmark indexes had hit a two-week high on Monday on hopes that U.S. and Iran were close to a peace deal.
Foreign investors bought shares worth 8.22 billion rupees ($86.32 million), snapping a four-session selling streak, per provisional data.
Analysts expect elevated volatility in Tuesday's trading session due to the expiry of Nifty 50's May derivatives contracts.
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