BENGALURU: Indian shares are set to open higher on Thursday, tracking a recovery in Asia, driven by a modest improvement in risk sentiment that has been battered by an escalating Middle East war.The Gift Nifty futures were trading at 24,682 points as of 8:10 a.m. IST, indicating that the benchmark Nifty 50 will open above Wednesday’s close of 24,480.5.MSCI’s broadest index for Asia-Pacific stocks outside Japan rose 2.6%, after sliding 8.6% over the past three sessions as the Middle East conflict spooked investors.The Nifty shed 2.8% in two sessions this week to a six-month closing low, pressured by the global equity rout and a surge in crude oil prices.Thursday’s rebound in Asian stocks followed overnight gains on Wall Street, after report that Iran had signalled openness to talks to end the war and comments by President Donald Trump to steady oil markets eased investor anxiety over the conflict.A New York Times report said Iranian intelligence operatives indirectly reached out to the CIA a day after the attacks, though U.S. officials remain skeptical that either side is ready for near-term de-escalation.Trump’s announcements of a U.S. naval escort for oil tankers through the Strait of Hormuz and political risk insurance provided additional relief.Crude oil prices jumped 2.5% to $83.4 per barrel, after ending little changed on Wednesday. Higher oil prices are typically negative for India, the world’s third-largest crude importer.Meanwhile, foreign investors sold Indian shares worth 87.53 billion rupees ($950 million) on Wednesday, the most since May 20, 2025, according to provisional data of the National Stock Exchange of India.Domestic institutional investors remained buyers, purchasing 120.68 billion rupees worth of shares on Wednesday, exchange data showed, and helping limit losses.
