Indian shares seen lower as Mideast tensions persist, Nifty expiry looms

According to Business Recorder, Indian shares were expected to open slightly lower on Tuesday as traders weighed Middle East tensions and their effect on oil supplies. Caution also lingered before the monthly expiry of Nifty 50 derivatives contracts. GIFT Nifty futures stood at 24,146.5 points at 7:45 a.m. IST, signalling a soft start after the index closed at 24,219.05 on Monday.

Tensions deepened after Tehran pledged a response to wider U.S. sanctions, which Washington has framed as a move to sever Tehran's economic lifeline. Brent crude traded near $92 per barrel, and Asian stocks eased before Nvidia's earnings due Wednesday.

Separately, Business Recorder carried a Reuters report from Monday, which cited two senior weather officials as saying rainfall for the season could finish about 15% under the long-term average. That would be the lowest since 2009, a shortfall that could dent crop output, push up food prices and squeeze rural incomes in the world's fifth-largest economy. Provisional figures showed overseas buyers acquired equities valued at 11.82 billion rupees ($123.52 million) on Monday.