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Informist, Friday, Apr. 10, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices may open up after Thursday's fall; global cues mixed

 

MUMBAI--0816 IST--After falling around 1?ch in the previous session, benchmark equity indices are expected to open higher amid mixed global cues. Major equity indices across the Asia Pacific region opened higher, but gains were capped as investors sought further clarity on the durability of the US-Iran ceasefire and remained wary of Israel-Lebanon peace talks. The April futures contract of the GIFT Nifty signals a positive start for the headline Nifty 50 index.   

 

Overnight, major indices in the US closed higher after crude oil prices came off highs as Israeli Prime Minister Benjamin Netanyahu said his country has agreed to open direct negotiations with Lebanon. Iran's parliamentary speaker Mohammad Bagher Ghalibaf had called Israel's continued attacks on Lebanon a violation of the ceasefire agreement. After opening lower, US stock futures traded largely flat or with minor gains at 0729 IST.

 

Netanyahu's comment came after US President Donald Trump delivered a stern message to him in a phone call that a US official said was shorter than their usual regular talks, according to a report by The Wall Street Journal. Lebanese officials said they wanted talks that led to lasting peace but were first seeking an immediate pause in Israeli strikes that escalated in intensity after the US-Iran ceasefire was announced Wednesday, the report said. However, Netanyahu in a subsequent address to residents of northern Israel, said that "there is no ceasefire in Lebanon," according to a BBC report.

 

The Strait of Hormuz remained largely closed to shipping, with marine traffic at well below 10% of normal volumes on Thursday as Tehran asserted its control of the strategic waterway that typically carries a fifth of global oil and gas shipments. Regarding the Strait, Iran's supreme leader, Mojtaba Khamenei, said that his country would move towards a "new phase" without elaborating, media reports said, citing a statement read out on television. Meanwhile, Trump, in a post on Truth Social, said Iran was doing a "very poor job" of allowing oil to pass through the strait. "That is not the agreement we have."

 

On Thursday, the benchmark Nifty 50 index retraced back slightly following a sharp up-move in the previous trading session. This kind of retracement following a sharp rise is normal market behaviour, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market said. "We are hopeful of a positive move up to 24350-24400 spot levels unless there is any fresh escalation in the Middle East," he said, adding that news driven volatility would take time to subside.

 

Shares of information technology companies will be in focus Friday after sector bellwether Tata Consultancy Services reported sharp sequential growth in its bottom line for the March quarter, as top line growth outpaced total expenses. However, the company's consolidated net profit of INR 137.18 billion was lower than the Street's view. Its consolidated revenue of INR 706.98 billion for the quarter, on the other hand, was better than the Street's expectation. Following the quarterly results, brokerages such as Nuvama Institutional Equities, Nomura and Emakay Global Financial Services raised their target prices for the stock by around 2-3%. (Arya S. Biju)

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Equity Alert: US mkts end muted Thu; investors await clarity on W Asia war

 

MUMBAI--0750 IST--Trade on Wall Street was muted on Thursday as market participants were cautious about how the war in West Asia would take shape going forward. Israel's Prime Minister Benjamin Nentanyahu said he will negotiate with Iran as soon as possible. Major indices on the Wall Street ended with marginal gains.  

 

"We do not want – I do not want – NATO to split. NATO is a guarantor of our security, including and above all in Europe," German Chancellor Friedrich Merz said, emphasising the need to reopen the Strait of Hormuz. He said the truce between the US and Iran is "fragile" and that Germany will resume direct talks with Tehran. Meanwhile, Brent Crude oil futures remained below the $100 per barrel mark. 

 

Macroeconomic data released Thursday also likely dampened sentiment. The advance estimate of US fourth quarter GDP was revised lower to 0.5%. This is significantly lower than the 4.4% recorded in the September quarter. "February prices were in line but income was weak and GDP was revised down again. That means stagflation was a little worse than expected even before the Iran war started," David Russell, the global head of market strategy at TradeStation told CNBC.  

 

Meanwhile, the US Federal Reserve's preferred inflation gauge, annual core personal consumption expenditure, which excludes volatile food and energy prices, remained sticky at 3% in February. The figure was in line with what economists had estimated. On an on-month basis, core inflation rose 0.4%, meeting expectations. Markets will keenly watch out for retail inflation data due Friday for a more comprehensive understanding of the impact of the US-Iran war on the US economy. 

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6824.66	0.62
NASDAQ Composite	22822.417	0.83
Dow Jones Industrial Average	48185.80	0.58

 

(Ruchira Kagita)

 

US$1 = INR 92.66

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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