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Informist, Tuesday, Apr. 7, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices may open flat tracking global cues, crude prices

 

MUMBAI--0811 IST--Benchmark equity indices are expected to open largely flat, tracking US stock futures which were trading with minor losses early Tuesday, as US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz approached. Crude oil prices continued to rise as Trump reiterated his threat on Iran during a White House briefing late Monday. "The entire country can be taken down in one night and that night might be tomorrow night," he said. 

Over the weekend, Trump had issued a fresh round of threats to attack Iran's power plants and civilian infrastructure, if Tehran failed to fully reopen the Strait of Hormuz by Tuesday. On Monday, equity markets had cheered reports that Pakistan had sent the framework of a plan to the US and Iran, calling for a 45-day ceasefire and reopening of the Strait of Hormuz. However, Iran rejected the proposed plan and emphasised the necessity of a permanent end to the war, IRNA news agency said Monday. ‌The Iranian response consisted of 10 clauses, including an end to conflicts in the region, a protocol for safe passage through the critical waterway, lifting of sanctions, and reconstruction, the agency added.

Trump responded saying the counteroffer by Iran wasn't good enough, though he also said Monday that negotiations were going "fine," Dow Jones Newswires reported. Additionally, US defence secretary Pete Hegseth said that US forces would carry out more strikes on Iran Monday than on any other day since the war started, with plans to further escalate them Tuesday. Meanwhile, Iran's Islamic Revolutionary Guard Corps Monday pledged to carry out an attack avenging the assassination of its intelligence chief, Major General Majid Khademi, who it says was killed by a US-Israeli attack earlier Monday, Al Jazeera reported.

 

At 0758 IST, the Gift Nifty traded at 22887, a discount of nearly 81 points to the Nifty 50's previous close, indicating a slightly negative start for the market. In the previous session, the Nifty 50 index witnessed a sharp recovery in the second half and closed near the 23000 mark, which is expected to act as a strong hurdle for the index in the near term, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. He expects the index to see selling pressure at the 23000 point level, potentially dragging it back towards the 22500 points. However, if the Nifty 50 manages to break above 23000 points and sustain at higher levels, it would move further up towards the 23500 mark, he said. (Arya S. Biju)

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Equity Alert: Wall Street indices close with gains Mon amid West Asia tensions

 

MUMBAI--0747 IST--Indices on Wall Street managed to hold on to gains Monday even as there were little signs of an end to the US-Iran war. US President Donald Trump reiterated his threats against Iran if it failed to reopen the Strait of Hormuz.

 

"We have to have a deal that's acceptable to me, and part of that deal is going to be we want free traffic of oil and everything," Trump said. "The entire country can be taken out in one night – and that night might be tomorrow night," he threatened on Monday. Brent crude oil futures ticked up slightly to $111 per barrel again on Tuesday, and the e-Mini Dow Futures were slightly down.

 

On Monday, major indices in the US ended 0.4-0.5% higher. Shares of Tesla, Nvidia, Micron Technology were among some of the most actively traded stocks on the Nasdaq. Shares of Tesla fell over 2% Monday.

 

Meanwhile, the US Services Purchasing Managers' Index for March came down to 54.0 from 56.1 in February. Input prices paid by businesses increased by the highest level in more than 13 years. Services employment dropped to the lowest level since the end of 2023.

 

Following are the closing levels of US indices Monday:

 

Index	Level	Change in %
S&P 500	6611.83	0.44
NASDAQ Composite	21996.337	0.54
Dow Jones Industrial Average	46669.88	0.36

 

(Ruchira Kagita)

 

US$1 = INR 93.06

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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