Indian shares poised to open higher on easing oil; state election results eyed

May 4 (Reuters) - Indian shares are likely to open higher on Monday, supported by easing oil prices amid some signs of some de-escalation in the Middle East conflict, while results of key assembly elections will also be in focus.GIFT Nifty futures were trading at 24,245.50 points, as of 8:05 a.m. IST, indicating that the benchmark Nifty 50 would open above Thursday's close of 23,997.55. Indian markets were closed on Friday for a local holiday.Both the Nifty and the Sensex fell about 0.7% on Thursday, while the rupee hit a record low after crude oil prices jumped on fears of an escalation in the Iran war.Those worries have now eased a bit after U.S. President Donald Trump said the United States would begin an effort to free up ships stranded in the Strait of Hormuz.Trump said that the effort to free up the Strait of Hormuz was a "humanitarian gesture" meant only to aid neutral countries that were not involved in the U.S.-Israeli war on Iran.Tehran said the U.S. had responded to its 14-point proposal for a peace deal through Pakistan and that it was reviewing the response, though Trump said it was unlikely to be acceptable.Brent crude, which jumped to a four-year high of $126.41 a barrel last week, has eased to about $108.Higher oil prices raise inflation risks for India, the world's third-largest crude importer, as well as pressure economic growth and corporate earnings. [O/R]The results of assembly elections in four Indian states, including Tamil Nadu and West Bengal, and one union territory will be announced during the session."Markets may continue to debate more on oil versus macro-calculus, while giving a brief cheer for electoral stability," said analysts led by Sanjeev Prasad of Kotak Institutional Equities.STOCKS TO WATCH ** Private lender Kotak Mahindra Bank beats March-quarter profit estimates on strong loan growth and lower provision for potential bad loans** Adani group flagship Adani Enterprises posts its first quarterly loss in 17 quarters, hurt by higher depreciation related to a newly operational airport near Mumbai and a copper plant in Gujarat, along with higher costs** D-mart operator Avenue Supermarts posts year-on-year rise in March-quarter profit** Auto makers such as Hero MotoCorp, Tata Motors, Tata Motors Commercial Vehicles, Maruti Suzuki, Escorts Kubota and Hyundai Motor India will be in focus after their auto sales numbers for April(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Subhranshu Sahu)