Indian markets set for rise as oil prices climb and key stocks gain focus

On Friday, Indian benchmark indices were expected to open on the upside, with GIFT Nifty futures trading about 0.41 % higher at 24,031 in early morning trade. The upward momentum mirrored gains in Asian markets and the U.S., where the Dow, S&P 500 and Nasdaq all closed higher after Fed Governor Christopher Waller indicated rates would likely stay unchanged absent unexpected inflation. Brent crude hovered around $96 per barrel, keeping state-run Oil Marketing Companies—Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation—in investor focus.

UltraTech Cement announced a ₹1,800 crore entry into the wires-and-cables sector under the Ultravolt brand, while Power Grid Corporation secured a ₹1,152.49 crore Letter of Intent for a Gujarat transmission project. Max Healthcare’s board approved an ₹87.87 crore equity infusion into Kalinga Hospital, and Cipla’s U.S. arm partnered with Qilu Pharmaceutical for exclusive U.S. rights to QL2107. Bharat Forge’s subsidiary signed an MoU with FN Herstal for local defence manufacturing, Welspun Investments approved up to ₹1,285 crore funding for Vishwakarma Realty, Tata Power commissioned a 400 kV corridor in Uttar Pradesh, and Sterlite Technologies unveiled a ₹3,000 crore capex plan for capacity expansion. PC Jeweller cleared outstanding debt, and four companies—ESDS Software Solution, Priority Jewels, Paluck Technologies and Complete Sports & Management India—were scheduled to debut on the exchanges.