Indian shares are set to open higher on Friday, tracking gains in other Asian markets, as oil prices fell after US President Donald Trump cancelled plans to strike Iran citing progress in talks.GIFT Nifty futures were trading at 23,483 as of 7:47 a.m. IST, indicating that the benchmark Nifty 50 would open 1.4 per cent above Thursday’s close of 23,161.6.Other Asian stock markets jumped 3.1 per cent. Brent crude futures slipped below $90 a barrel, tempering inflation fears.Trump said on Thursday the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping. However, Iran said it had not reached a final decision on an agreement.“Easing geopolitical tensions has provided significant relief to energy markets, with crude prices falling sharply, which is positive for India,” said R Ponmudi, chief executive officer at Enrich Money.“While a formal agreement is still pending, market participants will closely watch whether the easing geopolitical backdrop can trigger a meaningful turnaround in foreign portfolio flows.”The Nifty and Sensex have fallen 8 per cent and 9.2 per cent, respectively, since the Iran conflict began in late February, as higher oil prices stoked concerns over inflation, economic slowdown and corporate profitability in the world’s third-largest crude importer, while triggering record foreign outflows.Foreign portfolio investors sold ₹1,987 crore ($207.52 million) worth of domestic equities on Thursday, taking the year-to-date outflows to a record $30.6 billion.Published on June 12, 2026