Indian shares seen near six-month lows as oil prices rise
Brent crude futures rose 1.34% to $106.7 a barrel, while GIFT Nifty futures pointed to a muted start for the Nifty 50. The report also cited continued foreign selling and elevated US Treasury yields as market overhangs.
Sept 29 (Reuters) — Indian shares are likely to open little changed on Tuesday, after sliding to near six-month lows in the previous session, as oil prices extended their rise on continued Middle East supply worries due to the US-Iran conflict. 7 a barrel. Higher oil prices are detrimental for India, the world's third-largest importer of the commodity, as they risk stoking inflation, widening the import bill and squeezing growth and corporate margins. m.
25 on Monday. Global macroeconomic concerns have largely aggravated the pressure on markets, with the surge in Brent crude, persistent foreign selling and elevated US Treasury yields as the key overhangs, spurring risk-off sentiment, said Ajit Mishra, senior vice president of research at Religare Broking. 53 billion rupees (about $558 million) on Monday, a four-week high. 89 billion rupees, as per provisional exchange data.
Adani, Tata Firms In Focus Among stocks, Adani group companies will be in focus after the country's market regulator disposed of proceedings against the group chairman Gautam Adani and four group companies in a case regarding public-float violations. The case concerned whether Adani companies met the 25% minimum public-shareholding rule and properly disclosed promoter-linked holdings. The Securities and Exchange Board of India imposed penalties of 2 million rupees each on two individuals in the case for wrongful disclosures.
Tata group companies will be watched after Tata Trusts proposed merging two group companies with Tata Sons to prevent listing driven by India's central bank. com; +91 9769003463;)