Indian stocks poised for higher open on softer crude, robust foreign buying

Indian equities were positioned for gains when trading resumed Wednesday, Business Recorder reported, with lower oil costs and overseas fund purchases providing support. GIFT Nifty futures were at 25,334 at 7:41 a.m. IST, signaling a higher start for the Nifty 50, which had finished Monday at 25,044.65, its strongest closing level in over eight months. Markets had not traded Tuesday because of Diwali.

Brent futures reached $89.16 a barrel on Tuesday, their weakest level in two months, after US officials indicated further military action against Iran was not necessary; the contract later rose 0.5% to $92 on Wednesday. Indian benchmark indexes have climbed almost 9% this month, while foreign portfolio investors purchased $5.68 billion in Indian shares, their largest monthly buying since September 2024. Separately, stronger-than-expected US inflation lifted Treasury yields and weighed on Wall Street, as markets raised the likelihood of a 0.5-percentage-point Federal Reserve increase next month.