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Informist, Wednesday, Apr. 22, 2026

By Arundathi A R

MUMBAI – Analysts are divided in their views on the direction of market for Thursday as lack of clarity on US-Iran peace talks looms over investor sentiment. While some expect the indices to consolidate, others see them opening lower for the coming session. Though the extension of the ceasefire deadline is likely to boost market sentiment, the climb of Brent Crude oil prices to $100 a barrel will weigh, as the Strait of Hormuz blockade continues. March quarter results of information technology giant Infosys, scheduled for Thursday, will also be in focus. At 1649 IST, the June futures contract of Brent crude was trading nearly 1% higher at $99.31 per barrel. 

After US President Donald Trump's announcement of a ceasefire extension and continued blocking of Iranian ports, Iran's Foreign Minister Abbas Araghchi said that "blockading Iranian ports is an act of war and thus a violation of the ceasefire," Al Jazeera reported. He added that Tehran knows "how to resist bullying."

"Going ahead, the Nifty is likely to witness a phase of consolidation; however, the underlying bias remains positive," Ajit Mishra, senior vice president of research at Religare Broking, said in a note. Analysts expect the Nifty 50 to face resistance at 24600 level and find support at 24200 level. The 50-stock index closed Wednesday's session 0.8% lower at 24378.10 and the BSE Sensex ended 1% lower at 78516.49.

The disappointing Jan-Mar results of information technology giant HCL Technologies and weaker guidance from its management put the whole sector under pressure, according to analysts. However, "valuations of IT stocks are seen as attractive for the medium to long term," said Narendra Solanki, head of fundamental research at Anand Rathi Shares and Stock Brokers. He didn't expect the Nifty 50 to touch a fresh record high any time soon, even though the index was valued at a comfortable level.

Another IT major Tech Mahindra also reported its March quarter earnings Wednesday. It posted a near 21% sequential rise in its consolidated net profit for the reporting quarter at INR 13.54 billion. On a year-on-year basis, the bottom line grew 16%. Post market hours, Nifty 50 constituent SBI Life Insurance reported a net profit of INR 8.05 billion, down 1.1% on year, but up 40% on quarter. For the March quarter, the company had a net investment loss of INR 239.39 billion compared with a loss of INR 10.41 billion in the year-ago period. Trent also reported its Jan-Mar results post market hours. The Tata Group run company's net profit rose 30% on year to INR 4.55 billion on revenues of INR 49.37 billion. Its revenue was up over 20% on year.

Infosys' consolidated net profit for Jan-Mar is expected to decline around 5% sequentially to INR 75.56 billion. On a year-on-year basis, the bottom line is seen rising over 7%. Its consolidated revenue for the March quarter is expected to rise a little over 2% on a sequential basis to INR 465.79 billion.  

Higher energy prices and rising input costs owing to the war in West Asia are likely to widen India's trade deficit and increase fiscal risks through rising subsidy requirements, Moody's Ratings said in a report. India's dependence on oil and gas imports from West Asia, "raises near-term supply-disruption risks, although strategic petroleum reserves and commercial inventories will mitigate economic disruption over the next few months," Moody's said in the report. The rating agency expects India's GDP growth to ease to 6.0% in 2026-27 (Apr-Mar), from an earlier projection of 6.8%, mainly due to more subdued private consumption and softer industrial activity due to the West Asia war.  End

Edited by Akul Nishant Akhoury

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