Indian Shares Seen Modestly Higher At Open

(RTTNews) - Indian shares look set to open on a positive note on Monday, tracking firm cues from global markets as fears of an imminent Federal Reserve rate hike eased.

U.S. employers unexpectedly cut jobs in July and hiring figures for the prior two months were also revised downward, helping ease the risk of an immediate U.S. interest-rate hike.

On the geopolitical front, Iran's parliamentary Committee on National Security and Foreign Policy has approved its own bill on managing the Strait of Hormuz.

Iran and Oman remain short of a final deal as Tehran demanded major concessions before reopening the critical waterway.

Tehran stressed that the United States must meet a number of conditions - including compensation, the lifting of sanctions, and an end to military threats - before access to the strategic waterway is restored.

U.S. President Donald Trump signaled patience and suggested that he's prepared to allow economic pressure on Iran to mount rather than escalate militarily.

Meanwhile, Iran-aligned Houthi forces have attacked Saudi Aramco's Jazan refinery, two days after the kingdom signed a defense pact with Turkey and Pakistan.

Elsewhere, UAE-based Abu Dhabi National Oil Company said 15 of its vessels had come under attack while transiting the Strait of Hormuz since the conflict began.