India stocks open higher as crude eases and rupee firms

Oil was the key support. Brent traded near $104 a barrel and eased marginally after Saudi Arabia shifted some exports through the Strait of Hormuz to make up for a pipeline closure, helping calm a market that has been sensitive to energy inflation and import costs. Even with the drop, crude remains high enough to keep pressure on India’s trade balance, inflation outlook and corporate margins, especially for transport, chemicals and consumer companies.

The latest move comes after the Nifty closed 53 points higher on Thursday and the Sensex ended almost flat, showing how quickly sentiment is swinging around external cues. Market participants remain focused on the risk of fresh US tariffs on countries buying Russian crude, a threat that has kept investors wary of India’s oil import strategy and the knock-on effect on domestic prices.

Analysts said the market may stay range-bound in the near term, with oil, liquidity and the rupee likely to dominate direction until second-quarter earnings start to build. That makes Friday’s open more of a relief rally than a decisive shift, and leaves investors watching whether lower crude and a steadier currency can offset the drag from global geopolitical risk.