Indian shares set for higher open as crude, US yields ease

Indian equities are poised for a firm opening on Tuesday, with GIFT Nifty futures quoted at 23,500 points as of 7:45 a.m. IST, pointing to gains for the benchmark Nifty 50, which ended Monday's session at 23,414.3.

The positive setup follows overnight strength on Wall Street, where the Nasdaq set a record high, and a broadly higher session across Asian markets. MSCI's broadest gauge of Asia-Pacific shares outside Japan advanced 1.5% in morning trade.

Sentiment has been supported by a retreat in crude prices and a decline in the benchmark US 10-year Treasury yield on Monday. Brent crude futures traded near $101 a barrel after falling for four straight sessions through Monday.

Investors are also watching this week's United Nations General Assembly, where Iranian President Masoud Pezeshkian is expected to be in New York. Iran and the United States exchanged threats on Sunday, though President Donald Trump indicated he would be open to meeting his Iranian counterpart.

The Nifty 50 has gained 1.3% over the past four sessions, helped by softer oil prices and bargain buying after recent losses. Foreign investors, however, remained net sellers on Monday, offloading Indian shares worth 5.76 billion rupees ($60.12 million) on a provisional basis. They have sold in seven of the last eight sessions.

Stocks to watch

• Augmont Enterprises, a recently listed integrated precious metals management company, reported a year-on-year drop of more than 15% in net profit for the June quarter, even as revenue rose about 30%.
• Mastercard Asia/Pacific is likely to sell its 4.31% stake in Pine Labs through a block deal at a discount of 7.3% to the previous close, according to media reports.
• Waaree Energies has secured an order from a solar developer to supply 2 GW of solar modules.