Indian shares seen opening higher after three-day slide as oil surge weighs
GIFT Nifty futures point to a firmer start for India's market, but Brent near $113.5 a barrel limits investor optimism, per Reuters.
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what happened
According to Reuters, GIFT Nifty futures on Friday morning pointed to a higher opening for the Nifty 50, which closed Thursday at 22,687.65. Both the Nifty and Sensex are down about 2% so far this week.
The main pressure came from Brent crude, which rose to $113.5 a barrel amid concern about further energy supply disruption after Houthi attacks on Saudi Arabia, the top oil exporter. Asian markets opened lower, led by tech stocks after a decline on Wall Street. Meta shares fell nearly 8% after the Facebook parent reported its first cash outflow in more than a decade, linked to AI spending.
why it matters
For India, higher oil prices squeeze fuel retailers: HPCL reported a 9% drop in September-quarter profit due to higher tax expenses and a sharp rise in oil prices. Foreign investors were net buyers of Indian stocks on Thursday, with inflows of 10.22 billion rupees.
market impact
Indian equities and oil companies: higher Brent pressures margins and investor sentiment
tags
instruments
sources
- Indian shares seen opening higher after 3-session drop; oil surge clouds outlook — Reuters, 23 October 2026 at 02:16 UTC
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