Indian shares set for flat open as foreign outflows offset Asian gains

Business Recorder reported that trading in India was expected to open with little change on Wednesday, as GIFT Nifty futures signalled a roughly unchanged start for the Nifty 50. The index had closed at 23,329 on Tuesday, while the futures stood at 23,343 in early trade. Investors were weighing persistent overseas selling against a firmer tone across Asian markets.

Overseas investors have sold shares on eight of the past nine sessions, and on Tuesday alone they withdrew 38.1 billion rupees, roughly $398.58 million. Their September sales have reached $1.81 billion, pushing year-to-date outflows to $25.87 billion. Asian peers, by contrast, were on course for a sixth straight daily advance, helped by strong demand for AI applications that lifted technology stocks, and the MSCI Asia-Pacific index excluding Japan climbed 0.7 per cent.

Brent crude hovered near $99 per barrel as rising Gulf supply and hopes of a diplomatic end to the US-Iran conflict kept prices steady. Donald Trump issued a stark warning to Iran while also saying envoys Steve Witkoff and Jared Kushner had held useful discussions with Iranian intermediaries. Both the Nifty 50 and the BSE Sensex are down over 3 per cent this month, as investors fret about the war's effect on inflation and global interest rates.