Indian Markets Set for Flat Open as Oil Prices and US-Iran Tensions Weigh
Indian equity markets are likely to open flat-to-negative on Tuesday, September 29, with the GIFT Nifty trading at 22,810.5, down 14 points or 0.06%, amid geopolitical uncertainty and elevated crude oil prices. Market sentiment is pressured by high oil prices and US-Iran conflict uncertainty, with WTI crude around $93 per barrel and Brent above $105. Stronger-than-expected August IIP growth may offer some domestic support, though Asian markets traded lower. US President Donald Trump said the US would win the conflict "very soon," while officials seek mediation. Potential supply disruptions through the Strait of Hormuz and elevated global bond yields are keeping conditions tight, likely sustaining market volatility.