Indian Shares Set To Follow Global Peers Higher

(RTTNews) - Indian shares look set to open higher on Tuesday after a rise in global markets led by a rebound in technology shares and easing oil prices.

The upside, however, may remain capped after several U.S. allies, including Germany, Spain, and Italy, have declined President Trump's request to secure the Strait of Hormuz, a vital artery for a fifth of global energy shipments. Meanwhile, Iran said it was ready to take the Middle East war "as far as necessary".

Brent crude prices jumped nearly 3 percent this morning, climbing back towards the $105-a-barrel mark, while WTI crude futures were up 2.7 percent.

The Bank for International Settlements on Monday urged central banks not to rush reactions to the Iran crisis-driven spike in global energy prices, calling it a textbook case of when to "look through" a supply shock.

Benchmark indexes Sensex and Nifty jumped by 1.3 percent and 1.1 percent, respectively on Monday after a late-session rally following reports that two Indian-flagged oil tankers have safely crossed the Strait of Hormuz. The rupee closed slightly higher at 92.3700 per dollar.

Foreign investors net sold shares worth Rs 9,366 crore on Monday, marking the highest sell-off since October 28, 2025, while domestic institutional investors net bought shares to the extent of Rs 12,593 crore, according to provisional exchange data.

Asian markets were broadly higher this morning despite U.S. President Donald Trump requesting a delay to his summit with Chinese leader Xi Jinping for about a month.

Gold was modestly higher at $5,027 an ounce ahead of major central bank decisions. The dollar edged up against a basket of currencies, with the Japanese yen weakening despite verbal warnings from authorities.

Just days before the policy decision, Bank of Japan Governor Kazuo Ueda said today that underlying inflation was gradually accelerating toward the central bank's 2 percent target because of rising oil prices.

U.S. stocks rebounded overnight while the dollar and Treasury yields dipped as oil prices pulled back from recent highs amid efforts to help secure the Strait of Hormuz.

The tech-heavy Nasdaq Composite surged 1.2 percent as Nvidia's biggest event of the year kicked off and reports suggested that Meta Platforms plans to lay off 20 percent or more of its workforce.

The S&P 500 rallied 1 percent and the Dow climbed 0.8 percent after U.S. Treasury Secretary announced allowing Iranian oil tankers to transit through the key oil shipping route in order to maintain global oil supplies.

European stocks closed higher on Monday after having struggled for direction till around noon. The pan European Stoxx 600 rose 0.4 percent. The German DAX gained half a percent, France's CAC 40 edged up by 0.3 percent and the U.K.'s FTSE 100 added 0.6 percent.