Indian Stocks Seen Opening Lower as US-Iran Deal Doubts Lift Oil Prices

Indian equities are poised for a lower open on June 2, 2026, as fading prospects of a U.S.-Iran nuclear agreement stoked crude oil supply concerns, dampening risk appetite. SGX Nifty futures fell 0.5% to 22,340 in early trading, signaling a negative start for the NSE Nifty 50 index. The drop mirrored weakness across Asian markets, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.3%. Oil prices surged, with Brent crude climbing 2.1% to $84.50 a barrel on fears that a breakdown in talks could prolong geopolitical tensions and disrupt Middle Eastern shipments. India, which imports over 80% of its crude, is sensitive to higher energy costs that pressure corporate margins and consumer spending. The Nifty 50 and BSE Sensex had closed marginally higher on June 1, but the overnight shift in sentiment erased those gains. Traders await U.S. ISM manufacturing data due later in the day for further direction.