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Indian shares to open near six-month lows as oil prices rise
Indian shares are likely to open little changed on Tuesday, after sliding to near six-month lows in the previous session, as oil prices extended their rise on continued Middle East supply worries due to the US-Iran conflict. Brent crude futures rose 1.34% to $106.7 a barrel. Higher oil prices are detrimental for India, the world’s third-largest importer of the commodity, as they risk stoking inflation, widening the import bill and squeezing growth and corporate margins. GIFT Nifty futures were at 22,819.5 points as of 7:51 a.m. IST, indicating a muted start for the benchmark Nifty 50 index...
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