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The GIFT Nifty, a futures contract based on the Nifty 50, was up 0.3% at 23,555, indicating a higher open for the benchmark index. US and European index futures ticked higher.
Japan’s Nikkei 225 dropped 2% while the broad-based Topix fell 1.4%. South Korea’s blue chip Kospi slumped almost 3%. Hong Kong’s Hang Seng index fell 0.7%.
Brent oil traded near $100 and the WTI near $96 a barrel following one of the most volatile trading weeks ever, with investors bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut.
Gold was headed for a second weekly decline as the dollar strengthened and the ongoing war in the Middle East forced oil prices higher. Spot gold edged up 0.4% to $5,099.98 an ounce in Singapore. Silver rose 0.4% to $84.18.
