Indian shares are set to open lower on Friday, with sentiment unresolved as escalating US-Israeli hostilities with Iran fuel fears of a deeper energy supply shock that could push crude higher, reignite inflation and cloud the global growth outlook.
The Gift Nifty futures were trading at 24,649 points as of 8:10 am IST, indicating that the benchmark Nifty 50 will open below Thursday’s close of 24,765.9.
Both Nifty and Sensex rose about 1.1% each on Thursday, in a partial pullback after this week’s sharp selloff sparked by the Middle East crisis.
Markets showed signs of stabilizing in the last session, but intensifying war in the Middle East for the sixth day has kept crude prices elevated, fueling near-term inflation concerns and risk aversion, two analysts said.
Asian shares fell 0.7% at the open, while Wall Street closed lower overnight and the US dollar firmed as hostilities involving the United States, Israel and Iran deepened.
Iran launched a wave of missiles at Israel and warned would target Americans “wherever they are” after a US strike on a ship well outside the main battle zone.
Meanwhile, US President Donald Trump said Washington has a role in determining who leads Iran next, as American and Israeli jets continued their strikes in the region.
Brent crude jumped about 5% to a 20-month high $86.28 a barrel on Thursday, and was trading at $84.2 as of 8:10 am IST.
A sustained rise in Brent would pressure India, which imports most of its crude, by lifting fuel and transport costs, adding to inflationary risks, widening the current account and fiscal deficits, and weighing on the rupee.
Indian refiners are buying millions of barrels of prompt Russian oil to navigate the supply crunch triggered by the near-complete shutdown of the arterial Strait of Hormuz, Reuters reported, citing source, after the US issued a 30-day waiver allowing purchases of Russian oil.
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Published on March 6, 2026