Indian shares are expected to open higher on Thursday, as crude oil prices slumped to a two-month low as investors bet that Democrats' victory in US midterm elections could hasten the end of the US-Israeli war on Iran.
GIFT Nifty futures were at 24,295.5 as of 8:01 a.m. IST, indicating a positive start for the benchmark Nifty 50 , which closed at 23,960.6 on Wednesday.
Foreign investors bought Indian shares worth 72.84 billion rupees ($769.65 million) on Wednesday, as per provisional data. This marks their fourth straight session of buying, suggesting they may be returning to India after a strong sell-off this year.
Brent crude futures dropped 1% to $93.5 per barrel, after an 8.7% slide in the previous session.
US and European stocks rallied on Wednesday after Democrats seized control of both chambers of Congress in the US midterm elections, providing greater political clarity and reducing uncertainty that has weighed on markets.