India Shut for Market Holiday, Gift Nifty Flashes Friday Caution as Oil Jumps
Indian stocks took a holiday on Thursday for Bakri Id, with both the National Stock Exchange and BSE closed. In offshore action, Gift Nifty futures pointed to a softer start ahead of Friday trading, falling 0.79% to 23,655.50 at 12:34 p.m. IST. Traders follow the futures as an early read on the Nifty 50. India’s cash market slowed as traders watched two new risks: a sharp rise in Brent crude, up 3.6% to $97.71, and tension between the U.S. and Iran. Asian shares dropped after the U.S. hit an Iranian drone site and Tehran answered back. That pushed back hopes for a fast deal on the Strait of Hormuz.
