\n<\/p>\n
Indian Shares Set to Open Lower Amid Rising Oil Prices<\/strong><\/p>\n On Tuesday, Indian stock markets are expected to open lower as oil prices surge due to the ongoing conflict in Iran, impacting investor confidence. Traders are also closely watching company earnings reports.<\/p>\n As of 7:58 a.m. IST, GIFT Nifty futures indicated a likely opening around 24,002 points, dropping below Monday’s closing figure of 24,092.70.<\/p>\n Monday saw a halt in the three-day losing streak for both the Nifty and Sensex, primarily fueled by a rebound in technology stocks following last week’s steep decline. However, overall market momentum remains uncertain due to ongoing geopolitical tensions, particularly in the Strait of Hormuz, a crucial route for oil transportation.<\/p>\n Rising oil prices present challenges for India, the third-largest crude oil importer in the world. Higher oil costs can lead to inflation, affect economic growth, cut into corporate profits, and increase the import bill. Currently, Brent crude oil prices are hovering around $109 per barrel while diplomatic efforts to resolve the Iran situation seem stalled. <\/p>\n In domestic trading, foreign investors sold stocks worth 11.51 billion rupees (approximately $122.2 million) on Monday, marking their sixth consecutive day of selling. In contrast, domestic institutional investors purchased shares worth 41.24 billion rupees, continuing their buying trend for the third day.<\/p>\n Among noteworthy companies, Ultratech Cement, India’s largest cement producer, is in the spotlight after exceeding quarterly profit estimates thanks to increased demand during favorable weather conditions. State-owned miner Coal India also reported a quarterly profit that exceeded expectations, benefiting from higher prices and improved demand. Additionally, SBI Cards and Payment Services reported a significant 14% increase in quarterly profits year-on-year.<\/p>\n\n","protected":false},"excerpt":{"rendered":" Indian Shares Set to Open Lower Amid Rising Oil Prices On Tuesday, Indian stock markets are expected to open lower as oil prices surge due to the ongoing conflict in Iran, impacting investor confidence. Traders are also closely watching company earnings reports. As of 7:58 a.m. IST, GIFT Nifty futures indicated a likely opening around<\/p>\n","protected":false},"author":1,"featured_media":30127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[28],"tags":[5468,21890,3054,3131,28931],"class_list":{"0":"post-30126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-india-news","8":"tag-corporate-earnings","9":"tag-indian-rupees","10":"tag-indian-shares","11":"tag-iran","12":"tag-oil-prices"},"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/30126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=30126"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/30126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/30127"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=30126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=30126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=30126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}