9 hours ago
India equity benchmarks set for muted open after Trump's Tehran warning
June 17 (Reuters) - India's benchmark indexes are set for a muted open on Tuesday, as investors adopt a cautious stance following U.S. President Donald Trump's call to evacuate Tehran amid escalating Israel-Iran tensions.
The Gift Nifty futures were trading at 24,960 as of 8:02 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open near Monday's close of 24,946.5.
U.S. stock futures slipped and oil prices rose on Tuesday, as the fifth day of Israel-Iran fighting heightened fears of a broader regional conflict.
Trump cut short his attendance at the Group of Seven summit in Canada, citing mounting tensions in the Middle East. He also reiterated that Iran should have agreed to a nuclear deal with the United States.
India's equity benchmarks rebounded in the previous session, lifted by gains in heavyweight IT and financial stocks, even as geopolitical worries lingered.
Foreign portfolio investors (FPI) remained net sellers of Indian shares for the fourth straight session on Monday, with outflows amounting to 25.39 billion rupees ($295.9 million).
Domestic institutional investors continued to be net buyers for the 20th straight session.
"Evolving geopolitical developments and oil price trends will be key drivers for domestic equities in the near term," said Satish Chandra Aluri, analyst at Lemonn Markets Desk.
** Mphasis ( opens new tab enters into a strategic deal with Sixfold to enhance insurance underwriting capabilities through integration of advanced AI platform
** Hyundai Motor India ( opens new tab commences production of passenger vehicle engines at Talegaon plant in Maharashtra
** Hikal ( opens new tab says its unit in Bengaluru has successfully passed the Brazilian Health Regulatory Agency's good manufacturing process audit for pharma inputs
** Godrej Properties ( opens new tab acquires land in Pune for a project with a revenue potential of 31 billion rupees
($1 = 85.8180 Indian rupees)
