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Informist, Tuesday, Apr. 21, 2026

 

By Arundathi A R

 

MUMBAI – Headline equity indices are likely to take cues from the second round of talks between the US and Iranian officials in Pakistan. The expiry of the ceasefire deadline on Wednesday, along with the directions of these discussions, will be closely tracked by market participants. Meanwhile, the March-quarter results of Tech Mahindra and Trent, due on Wednesday, will be in focus.

 

Ahead of Wednesday's ceasefire deadline, Iran's top negotiator warned that it has prepared "new cards on the battlefield," and is ready if the war resumes, according to a report by CNBC. Iran's armed forces have promised a "decisive response" to any renewed attacks from the US or Israel, The Guardian reported, quoting Ali Abdollahi, commander of the Khatam al-Anbiya Central Headquarters, as saying to Tasnim news agency. The uncertainty over the US-Iran talks weighs more as Iran said it will not negotiate under the "shadow of threats."

 

"Nifty 50 can touch its new record high when the crude oil price falls below $80 per barrel," an analyst at a domestic broking firm said. Currently, crude oil prices are trading over 1% lower, hovering at $94 a barrel. He sees the Nifty 50 being valued at reasonable levels, which will provide further support to the equity market. The 50-stock index settled 0.9% higher at 24576.60. Analysts see the Nifty 50 facing resistance at 24800 and finding support at 24300.

 

After being net buyers for the previous three sessions, foreign institutional investors turned net sellers again on Monday. They sold shares worth INR 10.60 billion in the previous session. "If the trend of buying persists for at least one or two months, then only we can say they (foreign institutional investors) have become the large buyers," the analyst said.

 

On the earnings front, Tech Mahindra is likely to report a 7.5% sequential rise in its consolidated net profit for the March quarter to INR 14.98 billion. This would be the highest in 2025–26 (Apr-Mar). Its consolidated revenue for the quarter is expected to rise nearly 3% sequentially and to INR 148.12 billion.

 

The Tata Group company, Trent, is expected to post an over 19% year-on-year increase in its top line to INR 49 billion for Jan-Mar. Its bottom line for the quarter is expected to rise nearly 6% on year to INR 3.71 billion.

 

Meanwhile, Broekrage Elara Securities said it expects domestic steel prices to remain firm for the next couple of months. The prices will be supported by supply disruption amid ongoing geopolitical tensions, increased freight rates, and rising raw material costs, it said. Tuesday, the Nifty Metal index settled largely flat at 12835, with most constituents in the red.  End

 

Edited by Saji George Titus

 

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