Indian shares likely to open higher on easing oil prices, bond yields

Sept 22 : Indian shares were likely to open higher on Tuesday, following gains in Wall Street and Asian stocks, as easing crude prices and Treasury yields supported investor sentiment ahead of potential US-Iran talks at the UN General Assembly this week.

GIFT Nifty futures were at 23,500 points, as of 7:45 a.m. IST, indicating a positive start for the benchmark Nifty 50 index, which closed at 23,414.3 on Monday.

Brent crude futures hovered around $101 per barrel, after dropping for four consecutive sessions until Monday, while the benchmark US 10-year yield fell on Monday.

The Nasdaq notched a record high overnight, and Asian stocks mirrored gains in the morning trade. MSCI's broadest index for Asia Pacific stocks outside Japan rose 1.5 per cent.

Iran and the US exchanged threats on Sunday, though President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the UN General Assembly.

India's benchmark Nifty 50 has risen 1.3 per cent in the last four sessions on easing oil prices and bargain buying after recent losses.

Foreign investors sold Indian shares worth 5.76 billion rupees ($60.12 million) on a net basis on Monday, as per provisional data. They have been sellers in seven of the last eight sessions.

STOCKS TO WATCH

** Recently listed integrated precious metals management company Augmont Enterprises reports a more than 15 per cent year-on-year drop in net profit for June quarter, while revenue rises about 30 per cent

** Mastercard Asia/Pacific is likely to sell its 4.31 per cent stake in Pine Labs through a block deal at a discount of 7.3 per cent to previous close, media reports say

** Waaree Energies wins order from a solar developer for supply of 2 GW solar modules