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Indian shares likely to rebound after selloff, but oil surge may cap gains
Indian shares are poised for a higher open on Friday, with benchmark indexes likely to stage a technical rebound after a sharp selloff pushed them into oversold territory and to multi-year lows in the previous session. Gains, however, could be capped by a surge in oil prices and fresh US regulatory pressure on a green-card programme widely used by Indian IT outsourcing firms. GIFT Nifty futures were at 22,379.5 at 7:41 a.m. IST, indicating a positive start for the Nifty 50, which closed at 22,231.80 on Thursday. The Sensex ended the previous session at a 32-month low, while the Nifty slipp...
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