Oil Prices Test Indian Stocks' Resilience Ahead of Earnings Season

Indian stocks are set for a steady opening as Brent crude hovers above $83 a barrel, which could impact companies heavily reliant on imports.

The Nifty 50 index was near its prior close of 24,653 in morning trading, following a strong week for Indian equities.

However, oil prices are the bigger concern, as Brent has risen for a third consecutive session due to fears of disruptions to shipping routes near the Strait of Hormuz.

This rise in oil prices can be felt quickly through higher energy and freight costs, which will have an impact on company results. Britannia's first-quarter profit fell below expectations due to these rising costs, while LIC reported a profit jump thanks to its shift towards higher-margin products.