Indian shares likely to open flat as oil surge counters strong foreign inflows

Indian equities were set for a subdued Friday start, with higher crude prices offsetting continued foreign buying, Business Recorder reported. GIFT Nifty futures stood at 25,267.5 at 7:13 a.m. IST, compared with the Nifty 50’s Thursday close of 25,299.35. Overseas investors bought a net $832.71 million of Indian shares on Thursday, extending their buying run to nine sessions.

November inflows have reached $8 billion, the largest monthly total since December 2020, while the Nifty 50 and Sensex have risen 1.1% this week. Sentiment also faced pressure from Indian retail inflation climbing to 6.09% in October, above the Reserve Bank of India’s 6% upper limit. Brent crude traded near $95.23 a barrel, up from $92 at Thursday’s market close, amid concerns about energy infrastructure attacks and shipping disruption.