Indian shares are on track to open flat on Wednesday as uncertainty over a U.S.-Iran peace ​deal kept investors ⁠risk-averse, while higher oil prices and persistent foreign outflows also weighed ‌on sentiment.

Gulf hostilities flared anew, with the U.S. military saying Iranian missile attacks on ​Bahrain, Kuwait and other regional targets either were thwarted or unsuccessful, as diplomacy between Washington ​and Tehran ​showed little progress.

The flare-up pushed Brent crude prices up 1.1% at $97 per barrel, while GIFT Nifty futures were at 23,474, as ⁠of 7:53 a.m. IST, indicating the benchmark Nifty 50 would open near Tuesday's close of 23,483.55.

"While strong domestic liquidity is providing an important buffer, a more durable improvement in sentiment is likely to require greater clarity ​on the ‌geopolitical front and ⁠a sustained easing in ⁠energy prices," said Ponmudi R, chief executive officer at Enrich Money.

Foreign investors sold ​Indian shares worth 83.63 billion rupees ($877.91 million) on Tuesday, ‌marking a third consecutive session of selling and ⁠adding to their record selloff in the country this year, provisional data showed.

On the other hand, domestic institutional investors bought shares worth 95.89 billion rupees and helped the benchmark indexes snap a four-session losing streak.

IT companies will be in focus as global software stocks dropped on profit-booking following a recent rally.

American-listed shares of Infosys and Wipro dropped 2.5% and 8.3%, respectively, overnight.

STOCKS TO WATCH

** IT company Infosys expands strategic collaboration ‌with DNB Bank, Norway's largest lender, to modernize its ⁠financial crime operations

** John Cockerill India and its ​units get contract worth 12.5 billion-13 billion rupees from JSW Vijayanagar Metallics

** Advait Energy Transitions says subsidiary executes an agreement with Gujarat Urja Vikas Nigam for development ​of standalone ‌battery energy storage system (BESS) project having an aggregate capacity ⁠of 150 megawatt/300 megawatt-hour ($1 = 95.2600 Indian ​rupees) (Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips)