Indian shares set for cautious rebound after two weekly losses

Indian shares were expected to open marginally higher on Monday after two consecutive weekly losses, with GIFT Nifty (a futures indicator for India's benchmark index) at 24,378 points at 7:47 a.m. IST, compared with the Nifty 50's Friday close of 24,252. Investors remained cautious ahead of U.S. Treasury Secretary Scott Bessent's 1800 GMT press conference on threatened sanctions against Iran, which he described as the "toughest sanctions in history." Iran's foreign minister rejected the threat as a sign of desperation and said the measures would fail to defeat Tehran. The nearly six-month-old U.S.-Iran war has pushed up global energy prices and intensified inflation concerns. India's Nifty 50 and BSE Sensex fell 0.5% and 0.6%, respectively, last week, while Brent crude was down 2% but remained near $93 a barrel after rising 13% over the previous two weeks. Energy companies, Meesho and Lenskart Solutions were among the stocks to watch, with potential LPG infrastructure investment and reported stake sales in focus.

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