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India’s markets set for cautious open as crude and geopolitical fears rise
Brent crude futures were up 1.27% to $85.30 a barrel and WTI rose 1.23% to $79.92, helping drive investor caution after the US expanded strikes against Iran.
India’s benchmark indexes are expected to open on a cautious note on Friday, with investors weighing weak overseas cues and escalating geopolitical tensions in the Middle East, LiveMint Markets said. The outlook follows a largely flat session on Thursday as concerns about the US-Iran conflict and higher oil prices kept traders on the sidelines.
On Thursday, the BSE Sensex edged up 1.44 points to close at 77,186.87, while the Nifty 50 slipped 5.75 points, or 0.02%, to settle at 24,072.75. The report linked risk sentiment to developments after the US expanded its military campaign against Iran with fresh airstrikes that increasingly targeted bridges and transport infrastructure, while Iran warned its response would intensify.
Crude prices extended their rally on fears of supply disruptions. Brent crude futures gained 1.27% to $85.30 per barrel, and WTI crude rose 1.23% to $79.92 per barrel, with both benchmarks on track for weekly gains of more than 11%, the strongest weekly performance since April, according to LiveMint Markets.
Gold was steadier after a sharp drop in the prior session but remained on course for its largest weekly decline since early June, as expectations of tighter US monetary policy weighed on bullion. Spot gold inched up 0.1% to $3,980.17 per ounce, while spot silver was marginally lower at $55.50 per ounce, the outlet added.
Latest closeGold $3,981.40 ▼1.6%|Silver $55.72 ▼2.4%|WTI crude $79.00 ▼0.8%