India Stocks Open Cautiously as Crude Prices Soar Above $90

Benchmark indices in India are likely to open cautiously on Monday due to renewed US-Iran hostilities and higher crude oil prices. The escalation of tensions has pushed Brent crude above $90 a barrel, sparking concerns over global energy supplies and inflation.

The GIFT Nifty futures were at 24,222.5 as of 8:11 am, indicating that the Nifty 50 could open above Friday's close of 24,175.65. However, this positive indication comes against a deteriorating geopolitical backdrop.

US forces struck two Iranian launchers, marking the first known American strikes on Iran since late July. The escalation has raised concerns over a prolonged conflict and its impact on global energy supplies.