Indian shares to open higher on strong growth data; Middle East jitters could temper optimism
Indian shares were expected to open marginally higher on Tuesday on stronger-than-expected domestic growth data, although rising crude oil prices due to renewed Middle East tensions could keep any optimism in check. GIFT Nifty futures were at 24,178 points as of 7:59 a.m. IST, indicating a positive start for the Nifty 50. The benchmark index closed at a one-month low of 24,080.4 on Monday. India’s economy expanded 7.8% year-on-year in the April-June quarter, blowing past forecasts as an investment boom and manufacturing strength added to already-solid consumer demand. The upside surprise for Asia’s third-largest economy landed even as geopolitical tensions from the U.S.-Israeli war on Iran continued to rattle global markets. U.S. President Donald Trump threatened further strikes against Iran on Monday after the first exchange of direct attacks in a month, raising tensions in a conflict that had recently shifted into an economic standoff. Iran launched missiles overnight at two U.S. air bases in Jordan in response to a U.S. attack on Iran’s Larak Island. The fresh escalation lifted Brent crude futures to $91 per barrel. Asian stocks were little changed as selling drove globa
