INDIA STOCKS-Indian shares open higher as oil falls on Middle East hopes

Updates for markets open

June 12 (Reuters) - Indian shares opened higher on Friday tracking gains in other Asian markets, as oil prices fell after U.S. President Donald Trump cancelled plans to strike Iran, citing progress in talks.

The benchmark Nifty 50 .NSEI rose 1.08% to 23,412.55, while the BSE Sensex .BSESN added 1.19% to 74,709.27, as of 9:15 a.m. IST.

All 16 major sectors logged gains at the open. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose 1.4% and 1.3%, respectively.

Other Asian stock markets .MIAPJ0000PUS jumped 4%. Brent crude futures LCOC1 slipped to a near two-month low of $89 a barrel, tempering inflation fears.

Trump said on Thursday the United States and Iran could sign a peace deal as soon as this weekend that would reopen the Strait of Hormuz to shipping. However, Iran said it had not reached a final decision on an agreement.


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