India Stocks: Indian shares on track for lower open as US-Iran tensions unsettle markets

Bharat Heavy Electricals

04/06/2026 03:33

    June 4 (Reuters) - Indian shares are likely to open lower on Thursday, mirroring broader Asian markets, as renewed U.S.-Iran fighting rattled investors globally, even as conflicting signs of de-escalation kept them cautious.
GIFT Nifty futures GIFc1 were at 23,320, as of 7:23 a.m. IST, indicating the benchmark Nifty 50 .NSEI would open below its previous close of 23,405.6.
Israel and Lebanon agreed to implement a ceasefire to end hostilities, the Trump administration said on Wednesday, boosting hopes for a broader deal to end the Iran conflict.
Tehran, which had conditioned any deal with the U.S. in part on an end to fighting between Israel and Lebanon, earlier struck Kuwait, damaging its airport and injuring dozens while the U.S. military carried out strikes near the Strait of Hormuz.
Brent crude futures LCOc1 dropped marginally after the Israel-Lebanon ceasefire, but remained elevated around $97 a barrel, while Asian shares .MIAPJ0000PUS dropped 1.6%. MKTS/GLOB
India's benchmark Nifty 50 and Sensex .BSESN have dropped in five of the past six sessions, losing 2.6% and 2.8%, respectively.
Persistent selling by foreign portfolio investors amid elevated oil prices and uncertainty over India's position in the global AI landscape have driven the selloff.
FPIs sold Indian shares worth 56.17 billion rupees ($586.91 million) on Wednesday, marking a fourth consecutive session of selling, provisional data showed. They have offloaded a record $27.7 billion of shares so far this year.
Investors now await the Reserve Bank of India's policy decision on Friday, where the central bank is expected to keep its key rate steady at 5.25% while signalling a possible hawkish shift due to inflation pressures and weakness in the rupee.

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   ($1 = 95.7050 Indian rupees)

 (Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips)
 ((VivekKumar.M@thomsonreuters.com;))