Business Recorder
India’s equity benchmarks are poised to open lower on Thursday, tracking weakness across broader Asian peers, after US President Donald Trump stopped short of outlining a roadmap to end the Iran war. GIFT Nifty futures were trading at 22,359, as of 7:41 a.m. IST, indicating that the benchmark Nifty 50 will open below Wednesday’s close of 22,679.40 points. Other Asian markets dropped 1.2% after Trump said Washington’s “core strategic objectives” in the Iran war were nearing completion. However, he did not provide a clear outlook on when the conflict would end. Trump’s comments that the U.S. will strike Iran “extremely hard” over the next two to three weeks also intensified near-term geopolitical anxiety and drove crude oil prices higher. Brent crude climbed 4% to about $105 per barrel. Foreign portfolio investors (FPI) offloaded shares worth 83.31 billion rupees ($893.83 million) on Wednesday, while domestic institutional investors (DII) bought stocks worth 71.72 billion rupees, according to NSE’s provisional data. In the previous session, the Nifty 50 and Sensex indexes gained about 1.6% each, in line with a global rally sparked by expectations of a de-escalation in the Iran war.
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