Indian Shares Set To Open On Flat Note

(RTTNews) - Indian shares may open on a flat note Wednesday as investors clung to hopes for a de-escalation in the Middle East conflict and watch closely movements in crude prices.

Israel said it is not seeking an endless war with Iran and will coordinate with the United States on when to end the fighting.

Iran's parliament speaker, Mohammad Bagher Qalibaf, said on X that Iran was "definitely not looking for a ceasefire".

U.S. President Donald Trump said that Reliance Industries was backing a deal to build the first new major oil refinery in the United States in half a century. However, Reliance has yet to confirm the announcement.

Benchmark indexes Sensex and Nifty jumped by 0.8 percent and 1 percent, respectively on Tuesday amid hopes of an easing of tensions in the U.S.-Iran conflict.

The rupee gained 54 paise to close at 91.81 against the dollar as falling oil prices eased pressure on India's import bill.

Foreign investors offloaded shares worth Rs 4,673 crore on a net basis Tuesday while domestic institutional investors net bought shares to the extent of Rs 6,333 crore, according to provisional exchange data.

Asian markets were broadly higher this morning, the dollar held firm and gold was slightly higher above $5,200 an ounce ahead of a slew of U.S. economic data due this week that could influence the Federal Reserve's rate trajectory.

Oil prices were largely steady after plunging more than 11 percent in the overnight New York session following reports that the International Energy Agency was planning its largest ever emergency oil reserve release to counter increased disruptions in oil markets.

Overnight, U.S. stocks fluctuated before ending narrowly mixed as investors reacted to rapidly changing developments surrounding the war with Iran.

After signaling that the Iran war could be over "very soon" President Trump later claimed that Iran would be hit "twenty times harder" if they do anything that stops the flow of oil within the Strait of Hormuz.

"We will eliminate easy-to-destroy targets that would make the reconstruction of Iran as a country nearly impossible. Death, fire, and fury will reign over them. But I hope and pray that this does not happen," Trump said.

Without providing a timeline as to when the war would end, Pentagon chief Pete Hegseth asserted that Iran is "badly losing".

The Dow slipped 0.1 percent and the S&P 500 dipped 0.2 percent while the tech-heavy Nasdaq Composite finished marginally higher.

European stocks rebounded from three-month lows on Tuesday as oil prices pulled back sharply, helping ease inflation and interest-rate concerns.

The pan European Stoxx 600 rallied 1.9 percent. The German DAX surged 2.4 percent, France's CAC 40 jumped 1.8 percent and the U.K.'s FTSE 100 added 1.6 percent.