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Informist, Monday, May 11, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices seen lower, crude up as Trump rejects Iran's offer

 

MUMBAI--0828 IST--Benchmark indices are expected to open lower as crude oil prices jumped after US President Donald Trump rejected Iran's latest proposal to end the war, denting hopes of a near-term resolution to the conflict. Futures tied to major US indices traded lower in the early trade while Asian indices were largely mixed. 

 

Over the weekend, Iran sent a new proposal to US negotiators, centred on ending the over two-month-long conflict, Iran's semi-official news agency Tasnim said. The counteroffer didn't include commitments about Tehran's nuclear program, according to a report by Dow Jones Newswires. In response, Trump, in a social media post Sunday, said that Iran's reply to the US proposal to end the conflict was unacceptable. "I have just read the response from Iran's so-called 'Representatives.' I don't like it - Totally unacceptable!" 

 

The July futures contract of Brent crude in the Intercontinental Exchange rose 4.2% to $105.5 per barrel following Trump's rejection. At 0820 IST, the contract traded over 3% higher at $104.8 per barrel. Trump's rejection of Iran's latest offer to end the war points to the risk of prolonged uncertainty over the US-Iran conflict, Dow Jones Newswires reported, citing MUFG Bank's Lloyd Chan in a research report. 

 

In another development, China announced that Trump will make a state visit from May 13 to 15 at the invitation of President Xi Jinping. The two leaders and their delegations are expected to work through a sweeping agenda spanning trade, technology, rare-earth export controls, Taiwan, the war in Iran, and artificial intelligence, according to media reports. 

The May futures contract of Gift Nifty indicates a negative start to the domestic market. At 0811 IST, the contract traded at 24051.50 points, around 125 points lower than Nifty 50's Friday close. Some analysts expect the outperformance of broader market indices relative to their benchmark peers to continue in the near term. 

 

"From a technical perspective, a decisive breakdown below the 24000 (points) support zone (by the Nifty 50 index) could trigger fresh selling pressure in the market, which may drag the index towards the downside targets of 23500 and 23300 (points) respectively in the near term, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. On the other hand, if the 50-stock index manages to sustain above the 24000 point support level, it could witness a recovery move towards the 24500 points once again, Kewat added. 

On Monday, investors will also focus on the March quarter earnings announcements from Canara Bank, Indian Hotels Co, JSW Energy, and UPL. (Arya S. Biju)

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Equity Alert: Mkts in Asia mixed; crude oil prices up, West Asia woes weigh

 

MUMBAI--0815 IST--Indices in Asia traded on a mixed note Monday. Tensions between the US and Iran intensified after US President Donald Trump rejected Iran's proposal to end the war. Brent crude oil futures jumped over 3% and hovered near $105 per barrel. However, South Korea's KOSPI bucked the trend to touch a new record high.  

 

Iran sought guarantees that the transferred uranium will be sent back if negotiations fail or the US exits the agreement at a later stage, The Wall Street Journal reported, citing sources. Iran was only willing to suspend uranium enrichment for a period shorter than what US had proposed, according to the media agency. "I have just read the response from Iran's so-called "Representatives." I don't like it — TOTALLY UNACCEPTABLE!," Trump said in a post on Truth Social. 

 

In South Korea, the rally was driven by semiconductor stocks. Heavyweight SK Hynix surged almost 12% in early trade, and shares of its parent company, SK Square Co. were up nearly 6%. Samusung Electronics was also over 6% higher, and the benchmark KOSPI index was up by more than 4%. Japan's Nikkei 225 index touched a new high but the index pared all gains and slipped into negative. 

 

In some macroeconomic news, China's producer and consumer price index levels were better warmer than expected at a 45-month high in April. China's producer prices rose 2.8% on year in April, significantly higher than Reuters' estimates of a 1.6% increase. Meanwhile, consumer prices inched up 1.2% on year in April versus expectations for a 0.9% uptick by Reuters. 

 

The following were the levels of major Asian indices at 0814 IST:

 

Index	Level	Change in %
CSI 300 Index	4924.7653	1.80
Hang Seng Index	26262.75	(-)0.50
Nikkei 225 Day	62480.57	(-)0.37
TOPIX FIRST SECTION	3830.09	0.02
KOSPI	7822.00	4.32
FTSE Singapore Strait Times	4928.59	0.14
S&P/ASX 200 INDEX	8696.70	(-)0.55

 

(Ruchira Kagita)

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Equity Alert: Strong week for Wall Street; S&P 500, NASDAQ hit new highs

 

MUMBAI--0735 IST--The US indices ended the week to Friday on a strong note, largely driven by a rally in technology stocks. The market braved some jitters due to concern stemming from intensified tensions between the US and Iran. The NASDAQ and the S&P notched their sixth straight week of gains, and the indices touched new all-time highs Friday. 

 

On Friday, chipmakers performed well. Intel ended the day nearly 14% higher after The Wall Street Journal reported that the company reached a preliminary agreement with Apple to manufacture chips. For the week, shares of Intel closed with whopping 25% gains.  Among others, Qualcomm closed 8% higher Friday, and Nvidia and Apple ended 2% higher.

 

Further, the total non-farm payrolls edged up 115,000 in April and the rate of unemployment was unchanged from March at 4.3%. This was much better than economists' estimates of an increase by 55,000, Reuters reported. The US labour market seems to be stabilising, and the recent data also lent some cheer to the Street. 

 

"This is an economy that seems hard to wreck," Rob Williams, chief investment strategist at Sage Advisory Services told Reuters. "It's the productivity story, the spending, the consumer wealth effect and the earnings," Williams said.

 

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

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49609.16	0.02
NASDAQ Composite	26247.076	1.71
S&P 500	7398.93	0.84

 

(Ruchira Kagita)

 

US$1 = INR 94.48

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

 

Edited by Vandana Hingorani

 

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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