Indian shares seen opening higher after 3-session drop; oil surge clouds outlook

Indian equities were expected to begin Friday higher after three consecutive sessions of losses, with GIFT Nifty indicating a firmer start for the Nifty 50. Brent crude futures rose to $113.5 per barrel amid fears of energy supply disruption following Houthi attacks on Saudi Arabia, limiting confidence in a rebound. The Nifty and Sensex had each declined about 2% so far this week.

Asian markets opened lower, while the Nasdaq fell more than 2% overnight as Meta shares lost nearly 8%. Meta recorded its first cash outflow in over a decade amid spending on artificial intelligence, Business Recorder reported. Foreign and domestic institutions were net buyers of Indian shares on Thursday, purchasing 10.22 billion rupees and 16.14 billion rupees, respectively, according to provisional NSE data. Quarterly earnings and management views on demand were cited as key near-term factors, while Colgate-Palmolive India reported higher quarterly profit.