INDIA STOCKS-Indian shares seen muted on higher oil prices, weak Infosys forecast

April 24 (Reuters) - Indian shares are set to open little changed on Friday, after falling in the last two sessions, while rising oil prices due to Middle East tensions and a weak revenue forecast from No. 2 software services company Infosys weighed on sentiment.

GIFT Nifty futures GIFc1 were trading at 24,237 points, as of 7:41 a.m. IST, indicating that the benchmark Nifty 50 .NSEI would open near Thursday's close of 24,173.05.

Both the benchmarks dropped about 1.7% each in the last two sessions as oil prices rose above $100 a barrel.

Brent crude LCOc1 hovered around $106 after Iran displayed its grip over the Strait of Hormuz with a video of its commandos storming a cargo ship following the collapse of peace negotiations and U.S. President Donald Trump's indefinite extension of the ceasefire.

Reports of Iran's air defenses engaging targets over Tehran, and of a struggle between Iran moderates and hardliners, also sent crude prices spiking.

Other Asian markets .MIAPJ0000PUS were muted, while Wall Street equities closed lower overnight. MKTS/GLOB

Among stocks, Infosys INFY.NS will be in focus. Its U.S.-listed stocks fell 4% overnight after the IT company forecast annual revenue growth below market expectations due to macroeconomic uncertainty and tepid client spending.

The outlook overshadowed better-than-expected fourth-quarter results.

"Market sentiment remains fragile and highly news-driven, with near-term direction likely to be influenced by geopolitical developments in the Middle East, movement in crude oil prices, and corporate earnings," said Ponmudi R, chief executive at Enrich Money.

Foreign institutional investors (FII) remained net sellers of Indian stocks for the fourth session on Thursday, with outflows worth 32.55 billion Indian rupees. Domestic institutional investors' (DII) inflows stood at 9.41 billion rupees ($100.00 million).

STOCKS TO WATCH

LTM LTIM.NS posts fourth-quarter revenue that marginally beat expectations, as growth in its four other business verticals offset a decline in its largest banking and financial services segment

Cyient CYIE.NS misses quarterly profit view on one-time charge, higher costs

Rolex Rings ROLE.NS approves buyback of shares for an amount not exceeding 1.80 billion rupees

Mahindra Logistics MALO.NS posts a six-fold sequential jump in fourth-quarter profit

($1 = 94.1000 Indian rupees)