India Stocks: Indian shares to open lower as crude tops $100

Infosys

24/07/2026 03:32

    July 24 (Reuters) - Indian shares are expected to decline on Friday as an escalating Middle East crisis has pushed Brent crude above $100 per barrel for the first time in two months, while weaker-than-expected earnings from Infosys and IndiGo will also hurt shares.
GIFT Nifty futures GIFc1 were at 23,710 as of 7:12 a.m. IST, indicating the benchmark Nifty 50 .NSEI could open below Thursday's close of 23,869.6.
U.S. President Donald Trump promised a "major military punishment" for Iran and its Houthi allies on Thursday after the Yemeni fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East war to a second major shipping chokepoint. 
Higher oil prices pose a key risk for India, the world's third-largest crude importer and consumer, by stoking inflation, widening the trade gap, and squeezing growth and corporate margins.
The Trump administration will impose new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and India, on Friday over allegations of lax enforcement of forced labour bans, just as a temporary 10% global tariff expires.
India's benchmarks have fallen about 2% this week, setting the stage for their biggest weekly loss in over two months.
Shares of information technology major Infosys INFY.NS will be in focus after it named company veteran Ashiss Kumar Dash as its next CEO, while narrowing its fiscal year 2027 revenue growth guidance.
Meanwhile, India's largest airline IndiGo INGL.NS forecast largely flat capacity growth for the current quarter after posting a loss on Thursday, driven by soaring fuel prices and uncertainty from the Middle East conflict.
     
     
     
     

(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala)
((VivekKumar.M@thomsonreuters.com))