GIFT Nifty signals a weaker open as Brent crude stays below $80 a barrel

Brent crude slid toward $79 a barrel, posting a weekly drop of more than 9% and marking a second straight weekly loss. The move followed a US-Iran interim peace deal that helped shipping through the Strait of Hormuz return toward normal, with previously stranded tankers starting to leave and Kuwait saying it will begin increasing production. Japan’s Nikkei 225 rose 0.79%, a move that stood out within Asian markets and was not directly linked to oil.