Indian equities are expected to open sharply higher today after GIFT Nifty jumped around 220 points, signalling a strong start for the Nifty 50 and Sensex. The positive sentiment has been supported by a sharp decline in crude oil prices and gains across global markets.
Brent crude fell around 2.6% to $86.30 a barrel after Iran resumed discussions with Oman over managing the Strait of Hormuz. The development has raised hopes that a temporary navigation corridor could be established, easing fears of prolonged disruption to global oil shipments.
The Nifty 50 closed Tuesday at 24,334.55, while GIFT Nifty was around 24,557.5, pointing towards a potentially strong opening. Foreign investors also remained buyers, with FPIs purchasing around Rs. 1,593 cr. of Indian equities on Tuesday.
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