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Informist, Wednesday, May 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices seen higher as Asian mkt up, oil below $110/bbl to aid

 

MUMBAI—0825 IST--Headline indices are likely to open higher tracking the gains in Asian indices in early trade. A fall in crude oil prices is also expected to support the indices opening higher. US President Donald Trump said the country will pause "Project Freedom", a naval effort aimed at guiding commercial vessels through the Strait of Hormuz, to see whether a truce with Iran can be finalised. Trump claimed that "Great Progress had been toward a Complete and Final Agreement with Representatives of Iran."

 

Defence Secretary Pete Hegseth said at a Pentagon briefing Tuesday that the ceasefire was "not over" despite the clashes in the Strait of Hormuz, CNBC reported. "Well, you'll find out, because I'll let you know. They know what to do, and they know what to do. They know what not to do more importantly, actually," CNBC reported, quoting Trump, when asked what Iran would need to do to violate the ceasefire. 

 

At 0817 IST, the July futures of Brent crude were nearly 2% down at $108.06 per barrel. The May futures contract of Gift Nifty suggested a higher opening for the domestic equity market Wednesday. At 0822 IST, the Gift Nifty contract was 0.3% higher at 24261.50, over 220 points higher from the Nifty 50's previous close of 24032.80." Further rally can be expected if the Nifty 50 breaks the 24285 level," said Rupak De, senior technical analyst at LKP Securities. He sees the sentiment to be positive for a short term.

 

Focus will be on the Nifty 50 constituent, Bajaj Auto, as it will detail the March quarter results later in the day. The company's bottom line is expected at INR 26.31 billion, up over 28% on year. If the metric meets expectation, it would be the fastest on-year growth in eight years. The top line is expected to report INR 157.80 billion for the reporting quarter, up 30% on year. The on-year growth expectation on the top line would be the highest in nine quarters. Shares of the company ended nearly 1% lower at INR 10,046 on the National Stock Exchange.

 

All the US indices ended around 1% higher in the previous session. Among the Asian indices, South Korea's KOSPI was the major gainer, up over 6%.  (Arundathi A R)

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Equity Alert: Markets in Asia gain as hopes for truce between US, Iran rise

 

MUMBAI--0820 IST--Stock markets in Asia rose Wednesday as hope of a ceasefire between the US and Iran increased. US President Donald Trump said great progress has been made in peace talks with Iran, and that he has put a pause on 'Project Freedom'. Brent Crude Oil futures slipped below $110 per barrel. South Korea's benchmark KOSPI hit a fresh record high.

 

"...the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time," Donald Trump wrote in a post on Truth Social. 

 

In South Korea, Samsung Electronics Co. crossed the $1 trillion mark in market capitalisation for the first time, driven upwards by a rally in artificial intelligence stocks. Shares of Samsung soared over 12% intraday, helping the KOSPI hit another record. The South Korean electronics company is the second Asian company after TSMC to join the $1 trillion club.

 

South Korea's headline inflation accelerated to a 21-month high of 2.6% on year in April. The latest inflation print was in line with what The Wall Street Journal polled. Inflation had risen 2.2% on year in March. Markets in Japan remained closed Wednesday.

 

The following were the levels of major Asian indices at 0819 IST:

 

Index	Level	Change in %
CSI 300 Index	4880.2224	1.52
Hang Seng Index	26054.01	0.60
KOSPI	7353.50	6.00
FTSE Singapore Strait Times	4922.84	0.05
S&P/ASX 200 INDEX	8784.50	1.20

 

(Ruchira Kagita)

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Informist, Wednesday, May 6, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Technology-driven rally pushes NASDAQ, S&P 500 to fresh highs

 

MUMBAI--0740 IST-- The NASDAQ and the S&P 500 touched new all-time-high levels Tuesday, driven by technology stocks. The rise was supported by robust earnings and developments in the artificial intelligence space. Rise in shares of Micron Technology, Intel Corp., Advanced Micro Devices, and SanDisk Corp. supported the NASDAQ. 

 

Advanced Micro Devices delivered a better-than-expected set of earnings for the quarter ended March. The company's revenue was $10.25 billion, higher than the $9.89 billion estimated, CNBC reported. For the June quarter, the chipmaker said it expects $11.2 billion in revenue, versus $10.52 billion expected. Shares of the company closed around 4% higher but surged about 15% in post-market trading. Shares of Intel Corp. zoomed over 11% intraday after Bloomberg reported that Apple Inc. was in discussions with Intel and Samsung Electronics Co. to produce the main processors for its US devices. 

 

"I think maybe perhaps people in the geopolitical world don't understand what's happening with the AI trade and earnings and how much of a buffer that is for S&P 500 EPS. So we're continuing to see rates of upward revisions that are positive on that AI-related trade," Lori Calvasina, the head of US equity strategy at RBC Capital Markets, told CNBC. Around 85% of the S&P 500 companies which reported earnings for the quarter ended March beat analysts' expectations, CNBC said. 

 

Meanwhile, on the macroeconomic front, the job openings in the US were unchanged at 6.9 million in March, while hires increased 3.5% to 5.6 million. In February, hiring in the US was at 3.1%. The data indicate that the labour market is getting stronger. 

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49298.25	0.73
NASDAQ Composite	25326.13	1.03
S&P 500	7259.22	0.81

 

(Ruchira Kagita)

 

US$1 = INR 95.28

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

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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