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Informist, Monday, Apr. 13, 2026

 

By Eshitva Prakash

MUMBAI – Headline indices are expected to be volatile Wednesday, when the domestic equity market reopens after a holiday on Tuesday on account of Ambedkar Jayanti. There is lack of clear direction in the market because of sharp changes in US policy and President Donald Trump's stance on the issue, analysts said. Corporate earnings will also be in focus for the rest of the week, with Wipro and HDFC Life setting the tone for March quarter financial disclosurers. Some buying interest may be seen in several stocks that have now reached comfortable valuations, particularly large-caps, which many analysts now recommend to buy on dips.

 

The ceasefire signed between the US and Iran last week could end soon, said Benjamin Netanyahu, prime minister of Israel, according to various media reports. After Trump's directive to the US Navy to blockade the Strait of Hormuz, which facilitates the transit of 20% of global oil supply, crude oil prices have shot up and are likely to remain elevated in the near term. Higher crude oil prices expose the economy to higher inflation, lower growth, and a larger current account deficit. In an early indicator of cost pressure, India's consumer price index inflation for March rose marginally to 3.40% from 3.21% in February.

 

Some analysts said Trump's rapidly shifting stance on Iran wasn't allowing investors to price in either upside or downside risks, or time the market in an efficient manner. One of the biggest concerns they have is crude oil rates rising to a level that may materially impact India's economic growth. The absence of a peace agreement between the US and Iran has led to a sharp rise in crude oil prices and a weakening rupee, which could keep foreign fund flows under pressure, Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services, said. The ongoing earnings season is expected to add to market volatility, keeping sentiment cautious, he said.

 

"Markets continue to derive limited support from last week's ceasefire framework, which remains intact for now and is encouraging selective buying interest along with a buy-on-dips approach," Vinod Nair, head of research, Geojit Investments, said. "This comes despite an initial negative reaction to the breakdown of US–Iran peace talks and the announcement of a US naval blockade in the Strait of Hormuz, which pushed crude prices above $100 per barrel," the analyst said.

 

On Monday, the Nifty 50 ended at 23842.65 points, down 207.95 points, or 0.9%. The BSE Sensex ended at 76847.57 points, down over 700 points, or 0.9%. For the Nifty 50, 23900 points will act as a key resistance zone, Shrikant Chouhan, head equity research at Kotak Securities, said. As long as the market is trading below this level, the weak sentiment is likely to continue. Levels of around 23600–23500 would act as support for the 50-stock index, he said.  End

 

US$1 = INR 93.38

 

Edited by Avishek Dutta

 

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