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A bird flies near the Bombay Stock Exchange (BSE) building in Mumbai, India, April 3, 2025. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab
June 22 (Reuters) - Indian shares are set to open higher on Monday, tracking gains across Asian markets after signs of progress in U.S.-Iran peace talks eased concerns that negotiations were at risk of collapsing.
GIFT Nifty futures were trading at 24,129.50 as of 7:52 a.m. IST, indicating the Nifty 50 (.NSEI), opens new tab could open above Monday's close of 24,013.10.
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Broader Asian markets (.MIAPJ0000PUS), opens new tab rose 0.7%, while Brent crude fell 1.4% and stayed below $80 a barrel, offering relief to oil-importing economies.
A joint statement from Qatar and Pakistan said the first round of U.S.-Iran talks had ended with progress on a roadmap for a final deal within 60 days.
The update helped calm investor nerves after U.S. President Donald Trump threatened fresh strikes on Iran, even as Vice President JD Vance met Iranian officials for the first talks under an interim peace deal.
Meanwhile, India's shipping minister said on Saturday that three Indian-flagged tankers carrying more than 860,000 metric tons of oil had safely crossed the Strait of Hormuz, which handles about a fifth of global oil supply.
Domestic benchmarks Nifty 50 and Sensex (.BSESN), opens new tab rose about 1.7% each last week, supported by lower oil prices, though they snapped a five-session winning streak on Friday as IT stocks fell after Accenture's weak demand forecast.
Foreign portfolio investors bought Indian shares worth 48.59 billion rupees ($515.2 million) on Friday, the highest daily inflow since early February, while domestic institutions sold 11.6 billion rupees.
Among stocks, Reliance Industries (RELI.NS), opens new tab will be in focus as investors assess objectives laid out at its annual general meeting on Friday.
STOCKS TO WATCH
\\ Aurobindo Pharma's (ARBN.NS), opens new tab U.S. unit receives FTC approval to acquire Lannett Company in a deal valued at $250 million
\\ Bharat Forge (BFRG.NS), opens new tab signs a 4.25-billion-rupee contract with the Defence Ministry to supply gas turbine generators to the Indian Navy
\\ BCL Industries (BCLN.BO), opens new tab reports fire incident at its Bathinda distillery involving an ethanol tanker. No injuries have been reported as company initiates loss assessment
\\ Kirloskar Oil Engines (KIRO.NS), opens new tab secures a significant order from HyperNext for large-scale data center infrastructure
($1 = 94.3200 Indian rupees)
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman
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