Indian equities are expected to open higher on Thursday, tracking gains across Asian markets as declining oil prices and improving global risk sentiment strengthen investor confidence.
GIFT Nifty futures were trading at 24,107 early Thursday, indicating that the Nifty 50 could open above Wednesday’s close of 24,021.65. The positive outlook comes as crude oil prices continue to retreat following easing geopolitical tensions in the Middle East.
Brent crude fell about 1.8% to $72.4 per barrel, returning to levels seen before the Iran conflict. The decline in energy prices has eased concerns about inflation and economic growth in India, the world’s third-largest oil importer and consumer.
Lower oil prices are particularly important for India because they help reduce import costs, improve the trade balance, and ease inflationary pressures. This creates additional room for policymakers while supporting corporate earnings and consumer spending.
Asian markets also moved higher, with regional equities gaining around 1.3%. Investor sentiment improved after strong earnings and optimistic forecasts from U.S. semiconductor companies Micron Technology and Qualcomm, which helped ease concerns about valuations in artificial intelligence-related stocks.
Market analysts said that the combination of lower crude prices and improving global risk appetite is supporting equities across emerging markets, including India.
Indian benchmark indices have already shown strong momentum in recent sessions. Both the Nifty 50 and the Sensex have advanced in seven of the past nine trading sessions, gaining roughly 4% during that period.
The rally has been supported by easing oil prices following the U.S.-Iran peace agreement, along with government and central bank measures aimed at supporting the rupee and attracting foreign investment.
Despite the broader market strength, foreign portfolio investors remained net sellers on Wednesday, offloading shares worth approximately ₹18.43 billion. However, domestic institutional investors continued to provide support, purchasing equities worth ₹36.37 billion.
Several stocks are expected to remain in focus during Thursday’s session.
Jubilant Pharmova received relief after the Income Tax Department reduced a tax demand on one of its subsidiaries to ₹424.1 million from ₹1.08 billion, potentially improving investor sentiment toward the pharmaceutical company.
ICICI Bank attracted attention after the Reserve Bank of India approved the private lender’s proposal to acquire an additional 2% stake in its life insurance subsidiary, strengthening its position in the insurance business.
Meanwhile, Life Insurance Corporation of India announced that Chief Financial Officer Sunil Agrawal will resign from his position effective July 14.
Looking ahead, investors will continue monitoring global oil prices, foreign fund flows, and international market sentiment. The combination of easing crude prices, stable domestic fundamentals, and supportive institutional buying could help Indian equities maintain their positive momentum in the near term.
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