India Market Outlook Brightens on Softer Crude Prices and Easing Middle East Tensions
Indian equity markets are set to open on a cautious-to-positive note on Monday, supported by easing geopolitical tensions in the Middle East and a sharp decline in crude oil prices. Brent crude futures tumbled over 6% to $82.41 after US President Donald Trump said talks with Iran will happen on Monday.
The easing of tensions and lower oil prices are seen as constructive developments for India, helping to ease inflationary pressures and support the rupee. Rajesh Palviya, Head of Research at Axis Direct, noted that the decline in oil prices is a key supportive factor for the Indian market.
Palviya also pointed out that the Nifty sustains above the 24,250 support zone, maintaining a positive bias. He added that continued softness in crude oil prices could help the index move towards the higher end of its trading range.