Equity Alert
Indices to open dn on high oil prices; Maruti Suzuki in focus
This story was originally published at 08:41 IST on 28 April 2026
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Equity Alert: Indices to open dn on high oil prices; Maruti Suzuki in focus
MUMBAI--0825 IST--Benchmark equity indices are likely to opening lower Tuesday as Brent crude oil prices hovered around $100 per barrel. The escalation in crude oil prices since last week and uncertainty over US-Iran peace talks have been worsening market sentiment. Nifty 50 constituents Maruti Suzuki and Eternal are in the spotlight as they will announce their March quarter results later in the day.
The April futures contract of the GIFT Nifty suggests a lower opening for the market. At 0818 IST, the GIFT Nifty contract was 0.5% lower at 23987.50, short over 100 points from the 50-stock index's previous close of 24092.70. The June contract of Brent crude was trading higher for the seventh session in a row. At 0820 IST, Brent crude futures were trading over 1% higher at $109.45 a barrel.
"A decisive breach below 24000 may trigger profit booking pressure, which could drag the index towards 23800 followed by 23500 levels," Sundar Kewat, technical and derivatives analyst at Ashika Group said. "On the upside, if Nifty 50 surpasses the previous session's high of 24130.70, fresh buying momentum may emerge, potentially driving the index towards the 24500 resistance zone."
In the latest development from the West Asia war front, US President Donald Trump's national security team is reviewing an Iranian peace plan to stop the war and open the Strait of Hormuz, while postponing talks on its nuclear programme, Al Jazeera reported.
Maruti Suzuki is expected to post a net profit of INR 41.14 billion for the March quarter, up 11% on year. Its revenue is expected to rise 27% on year to INR 514.98 billion. Eternal's consolidated revenue for the quarter is likely to rise over three times on year to INR 179.45 billion. Its net profit is expected to rise nearly fourfold to INR 1.50 billion.
In the global equity market, Asian indices showed a mixed performance in early trade. Australia's S&P/ASX 200 INDEX was leading the pack of losers, while South Korea's KOSPI gained the most. Barring the Dow Jones Industrial Average, the other two indices in the US closed higher for the second straight session Monday. (Arundathi A R)
Equity Alert: Indices on Wall Street mixed; NASDAQ, S&P 500 hit new highs
MUMBAI--0735 IST--The S&P 500 and the NASDAQ Composite notched fresh highs intraday Monday even though gains were relatively modest. The Dow Jones Industrial Average closed with slight losses. Worries over peace talks between the US and Iran coming to a standstill weighed on market sentiment. Shipments through the Strait of Hormuz are still constrained, and Brent Crude oil futures hovered around $108 per barrel.
On Monday, shares of Intel Corp., Nvidia Corp., Alphabet Inc., and US Energy Corp. supported the NASDAQ. Organon & Co. closed 17% higher after Sun Pharmaceutical Industries confirmed it will acquire the US company in a $11.75-billion deal. "The market is just trying to deal with the rally that's been going on and digest the latest all-time highs that we've made on the indices," Robert Pavlik, senior portfolio manager at Dakota Wealth told Reuters.
Many of the magnificent seven stocks will be reporting their earnings for the quarter ended March, and they will be among the major triggers on Wall Street this week. Microsoft, Alphabet, Amazon, and Meta Platforms are set to post their earnings for the quarter gone by on Wednesday while Apple will release its earnings on Thursday. Further, 139 companies in the S&P 500 reported their first-quarter results. Of those, 81% have beaten estimates, Reuters said.
In other news, the Federal Open Market Committee's decision on interest rates is due Wednesday and the committee is expected to maintain a status quo. This could be the current chair Jerome Powell's final meeting as he may retire in May. Investors will keep an eye out for the US Federal Reserve's commentary.
Following are the closing levels of US indices on Monday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49167.79 |
(-)0.13 |
|
NASDAQ Composite |
24887.10 |
0.20 |
|
S&P 500 |
7173.91 |
0.12 |
(Ruchira Kagita)
US$1 = INR 94.19
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
All prices from National Stock Exchange, unless otherwise specified.
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