Indian Shares Eye Flat Open as Fed Rate Hike Chances Diminish

Indian shares are expected to open flat on Friday as the possibility of a US Federal Reserve rate hike in September has diminished, offsetting concerns over persistent tensions in the Middle East.

The Nifty 50 and BSE Sensex have dropped 0.7% and 0.5%, respectively, this week due to escalating Middle Eastern conflicts that outweighed strong earnings season and the likelihood of steady Fed rates.

US naval blockades on Iran could continue indefinitely, with economic pressure on Tehran set to increase as ceasefire talks falter.

Brent crude futures have dropped to $87 per barrel due to higher inventories and lower global demand forecasts, despite geopolitical concerns.