Indian stocks climb 0.6% as Brent slips 0.8% and bank shares advance

Brent crude futures fell 0.8% as markets anticipated oil tankers stranded since the start of the Iran war would move out of the Strait of Hormuz, easing near-term supply pressure. As the world’s third-largest oil importer, India stands to benefit from cheaper crude through lower import costs and a softer inflation outlook. The report also notes the Reserve Bank of India governor’s view that it is premature to discuss rate hikes and a rise in bank shares, but the key tradable catalyst is the shift in oil-supply expectations.