India’s equity benchmarks are anticipated to open lower on Thursday as Brent Crude prices surged past $100 a barrel following Iran’s seizure of two ships in the Strait of Hormuz and a lack of progress in peace negotiations.
As of 8:02 a.m. IST, GIFT Nifty futures indicated that the benchmark Nifty 50 would start below Wednesday’s close of 24,378.1 points, trading at 24,158 points.
Brent Crude prices have now risen for four consecutive sessions, reaching $102 per barrel amid ongoing uncertainty regarding peace talks in the Middle East.
Global brokerage firm HSBC has downgraded Indian equities to “underweight” from “neutral,” pointing to the nation’s dependence on imported energy and the potential adverse effects on inflation and domestic consumption. India relies heavily on imports for its crude oil and gas needs, and a persistent increase in prices could negatively impact both economic growth and inflation expectations.
On Wednesday, foreign investors sold Indian shares worth ₹2,078 crore, marking the second consecutive day of selling after a prior four-day buying streak, according to provisional data.
Additionally, market participants will assess the earnings reports from significant Nifty 50 constituents, including SBI Life Insurance and apparel retailer Trent.
SBI Life Insurance reported a slight decline in net profit for the January-March quarter, attributed to a one-third increase in operating expenses. In contrast, Trent experienced a 26% rise in quarterly profit, bolstered by increased demand following last year’s consumption tax cuts. The company’s board has also approved its first bonus share issue and plans to raise up to ₹2,500 crore through new funding.
Published on April 23, 2026.
