Business · India Bureau
Indian equities set for weak open as oil prices slip further
India's benchmark indices are poised for a subdued start to the trading session, with GIFT Nifty indicating downward pressure despite strength in broader Asian markets. Crude oil prices extended their decline, trading near $98 per barrel.
LSN India ·
Indian equity markets are likely to open on a weaker note, with early indicators suggesting pressure on the Nifty 50 and Sensex indices, even as most Asian peers rallied during the session.
GIFT Nifty futures, which track the National Stock Exchange's Nifty 50 index before regular market hours, pointed to a negative opening for domestic equities. The weakness in India contrasts with broader strength across Asia, where regional indices advanced on the back of varied economic developments.
Global commodity markets remained under pressure, with Brent crude oil prices declining further to hover around the $98 per barrel mark. The softness in energy prices could influence sentiment in the oil and gas sector, traditionally a significant component of Indian market indices.
Market participants will be watching for any developments that could influence the broader trend, including foreign institutional investor flows and macroeconomic data releases throughout the week. The divergence between Asian strength and the expected weakness in Indian indices suggests selective investor caution ahead of key corporate earnings announcements.