Indian Shares Likely To Open On Cautious Note

Indian shares are likely to open on a cautious note on Thursday as concerns mounted about a re-escalation of the Middle East conflict and a stronger U.S. inflation print reinforced expectations that borrowing costs would remain higher for longer.

Amid shifting rate hike expectations, traders began pricing in a potential Federal Reserve rate hike as early as October.

After the U.S. military launched a new wave of strikes on multiple targets in Iran, Iranian state media reported that the Strait of Hormuz, a critical global energy shipping route, was “completely closed to all type of vessel.”