GIFT Nifty Signals Muted Start As Brent Crude Slips Below $94

Indian equity benchmarks are likely to open lower on Friday, with GIFT Nifty indicating subdued sentiment after global oil prices declined and investors continued to track developments around the U.S.-Iran situation.

GIFT Nifty traded at 23,888 in early trade, indicating a negative opening for the NSE Nifty 50 and the BSE Sensex. Domestic markets remained closed on Thursday on account of a trading holiday.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

On Wednesday, the NSE Nifty 50 ended 6.55 points, or 0.03%, lower at 23,907.15 after a volatile trading session. The BSE Sensex declined 141.90 points, or 0.19%, to close at 75,867.80.

Crude Oil Prices Ease

Global crude prices moved lower after reports indicated that the U.S. and Iran had tentatively agreed to extend a ceasefire arrangement by another 60 days, although U.S. officials stated that a final agreement had not yet been reached.

Brent crude futures for July delivery fell 0.4% to $93.37 a barrel. The more actively traded August Brent contract declined 0.6% to $92.18 per barrel. West Texas Intermediate crude for July delivery slipped 0.6% to $88.33 a barrel.

Crude oil prices have remained highly volatile in recent weeks due to tensions in West Asia and concerns over supply disruptions through the Strait of Hormuz, a key global crude shipping route. The recent decline in prices came after reports suggested ongoing diplomatic discussions between Washington and Tehran.

Asian Markets Trade Higher

Most Asia-Pacific markets traded in positive territory on Friday as investors assessed geopolitical developments alongside regional economic cues.

Japan’s Nikkei 225 advanced 1.52%, while South Korea’s Kospi gained 1.73%. Australia’s ASX 200 also rose 0.75% in early trade.

The gains in Asian equities came despite lingering uncertainty over military activity involving Iran and concerns around energy markets. Investors continued to monitor developments related to global trade flows, oil supply routes and inflation-linked risks.

Domestic Market Outlook

Indian benchmarks had closed with marginal losses in the previous session amid weakness in select heavyweight banking stocks. However, broader markets remained relatively resilient, with mid-cap and small-cap shares continuing to attract buying interest.

Market participants are expected to track crude oil movement, foreign institutional investor activity and global geopolitical developments in Friday’s session. Attention is also likely to remain on sector-specific stocks reacting to quarterly earnings announcements and corporate updates.

With domestic markets reopening after Thursday’s holiday, volatility could remain elevated during the opening hours as investors react to global developments that unfolded during the market closure.