Indian shares set for positive start on talks to end Iran war, strong Reliance earnings

Indian shares are poised to open on a bullish note on Monday, as tensions in the Iran conflict ease and Brent crude oil prices slide from a recent six-month peak. The conglomerate Reliance Industries also delivered a stronger-than-anticipated profit report for the September quarter, buoyed by its digital services arm Jio Platforms.

The Nifty futures were trading at 23,258.5 on Monday, signaling a promising start to the trading day. Brent crude futures, meanwhile, found themselves at $111 per barrel, down from their six-month high of $118 earlier in the week, as Iranian and Qatari officials continued their efforts to negotiate an end to the US-Israeli war on Iran.

Ponmudi R, CEO of Enrich Money, a prominent stock broking platform, noted that discussions between Iranian officials and Qatari mediators have fostered optimism about a potential breakthrough, which could alleviate supply worries and positively impact global energy markets. Additionally, foreign investors poured 36 billion rupees ($379.53 million) into Indian shares on Friday, marking their sixth consecutive buying session in the past ten trading days, hinting at a renewed interest in the market following a series of sell-offs in 2026.

The Indian share market also bid farewell to a two-month losing streak in October, with the benchmark Nifty 50 and BSE Sensex indices climbing 1.9% and 2.7%, respectively. The rebound was propelled by robust performances from IT stocks, steady earnings, and hope for relief in capital gains tax. Reliance Industries, India's largest company by market cap, outperformed expectations with a 40.6% surge in its quarterly net profit, driven by the strength of its energy and digital services arm Jio Platforms.

Jio Platforms, which made a remarkable debut last week to become India's second biggest company by market cap, experienced a 13.7% growth in its quarterly net profit.