{
  "id": 4773766,
  "title": "Nifty set for higher open after 7.8% GDP surprise; West Asia tensions, rising crude price cap gains",
  "url": "https://urgent.news/2026/09/01/nifty-set-for-higher-open-after-7-8-gdp-surprise-west-asia-tensions",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T02:56:49.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/nifty-set-for-higher-open-after-78-gdp-surprise-west-asia-tensions-rising-crude-price-cap-gains/article71413504.ece"
  },
  "original_language": "en",
  "account": "Indian shares are poised for a marginal increase at the opening bell on Tuesday, buoyed by robust domestic growth figures that surpassed expectations. However, the rally may face some resistance from rising crude oil prices, exacerbated by ongoing tensions in the West Asia region. The Nifty index futures were trading at 24,178 points as of 7:59 am IST, signaling a favorable start to the trading day. The benchmark index had previously hit a one-month low of 24,080.4 points on Monday. India's economy witnessed a remarkable expansion of 7.8% year-on-year in the April-June quarter, outpacing expectations, driven by an investment boom and a thriving manufacturing sector, coupled with solid consumer demand. Despite this positive economic data, geopolitical tensions stemming from the ongoing conflict between the US and Iran continue to cast a shadow over global markets. Earlier in the week, US President Donald Trump had threatened further strikes against Iran following direct attacks in a month, further heightening tensions. These developments led to a surge in Brent crude futures to $91 per barrel. West Asia-related jitters have dampened Asian stock markets, with the Nifty 50 index shedding 1.2% on Monday as foreign investors exited the market, selling shares worth ₹7,986 crore ($839.20 million) on Monday. The focus for Tuesday will also be on the expiration of weekly Nifty 50 derivatives contracts, which could introduce additional volatility. Additionally, India's new closing auction session for stocks with derivatives contracts has resulted in significant swings in the cash market and options segment preceding the expiration day. Meanwhile, in other corporate news, ITC announced that its IT unit would acquire a 22.1% stake in Happiest Minds Technologies for approximately ₹1,330 crore ($139.76 million) in cash, with the newly listed company expected to commence trading on stock exchanges post-deal. Furthermore, Oil and Natural Gas Corporation (ONGC) has announced plans to invest ₹1 lakh crore ($10.51 billion) over the next five years in exploring deepwater and ultra-deepwater fields in India.",
  "summary": "GIFT Nifty at 24,178; FIIs sold ₹7,986 crore on Monday as weekly expiry and closing auction stay in focus",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times - Economy",
        "title": "India rides out West Asia storm as GDP grows 7.8% in April-June quarter",
        "url": "https://urgent.news/2026/09/01/india-rides-out-west-asia-storm-as-gdp-grows-7-8-in-april-june-quarter",
        "published": "2026-09-01T00:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}