Business Recorder
Indian shares are set to open higher on Monday, as crude oil prices fall below $100 per barrel for the first time in more than two weeks on prospects of a deal to end the Iran war. US President Donald Trump said on Saturday that Washington and Iran had “largely negotiated” a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz , which carried a fifth of global oil and LNG shipments before the war. However, the Trump administration on Sunday played down hopes of an imminent breakthrough in the three-month-old war. GIFT Nifty futures were at 23,952, as of 7:42 a.m. IST, indicating the benchmark Nifty 50 would open above Friday’s close of 23,719.3. Asian stock markets rose 1.2% and Brent crude futures were down 4% at $99.39 per barrel on optimism that a peace deal was near. The Nifty 50 and the Sensex have declined 5.8% and 7.2%, respectively, since the Iran war broke out in late February. Foreign investors sold 44.4 billion rupees ($464.00 million) worth of Indian shares on Friday, as per provisional data. They have offloaded $23.9 billion of shares so far this year, surpassing 2025’s record annual outflows.
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