Indian equity markets set for lower opening as Brent Crude surges past $100 per barrel. GIFT Nifty futures trading at 24,158 points suggest Nifty 50 will open below Wednesday's close of 24,378.1 points. The crude spike stems from Middle East tensions following Iran's seizure of two ships in the Strait of Hormuz, with no peace talks resuming. Global brokerage HSBC downgraded Indian equities to underweight from neutral, citing India's heavy reliance on imported energy and potential inflationary pressures. Foreign investors sold Indian shares worth 2,078 crore on Wednesday, marking their second consecutive selling session. Earnings from SBI Life Insurance and Trent will guide market sentiment today. SBI Life's net profit declined marginally due to rising operating expenses, while Trent posted strong 26 percent quarterly profit growth and approved a bonus share issue.
