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Informist, Wednesday, May 13, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices to move in range; US-Iran war, crude oil prices weigh

 

MUMBAI--0835 IST--The domestic equity indices are likely to move in a range Wednesday. Fading hopes of a resolution to the US-Iran war and rising crude oil prices are dampening the market sentiment. The March quarter earnings of the Nifty 50 constituents Cipla and Bharti Airtel will be in focus as also Dr. Reddy's Laboratories shares. The pharmaceutical major detailed its results post market hours Tuesday. In the global markets, most of the Asian indices were in the red in early trade. Barring the Dow Jones Industrial Average, other US indices settled lower Tuesday. 

 

The market's focus will be on US President Donald Trump's meeting with China's President Xi Jinping in Beijing. "Trump said he would have a "long talk" about Iran with the Chinese leader but that trade would be the main focus," Al Jazeera reported. Trump spoke to reporters at the White House before leaving for China, and said, "We have Iran very much under control," The New York Times reported. "But he also reiterated that "we're either going to make a deal or they're going to be decimated," the report said.

 

Though the Brent crude oil July futures contract was nearly 1% down from the previous close, has it stayed above $100 a barrel level for the last few sessions. At 0832 IST, the Brent crude prices were 0.8% lower at $106.8 per barrel.

 

The government meanwhile raised customs duty on gold and silver to 15% from 6%, while also raising basic customs duty on them to 10% from 5%. The agriculture cess on gold and silver has been increased to 5% from 1%.

 

Global index provider MSCI has added Adani Energy, Federal Bank, Indian Bank, Multi Commodity Exchange of India, and National Aluminium Co. to the MSCI global standard indices and deleted four other companies. Changes to the MSCI global standard indices will be effective from the close of May 29. It removed Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers, and Rail Vikas Nigam from the global standard indices. MSCI has also added 14 companies to its global small-cap index while excluding 29. 

 

At 0831 IST, the Gift Nifty May futures contract was marginally higher at 23425.50 from its previous close. This was nearly 46 points higher from the Nifty 50's previous close of 23379.55. "Indian markets are likely to open on a cautious note amid persistent geopolitical tensions, elevated crude oil prices, and continued weakness in the rupee," Ruchit Jain, head of technical research at Motilal Oswal Financial Services, said. He expects the Nifty 50 to find support around 23400–23300 levels, while resistance is seen at the 23800–24000 levels.

 

The Nifty 50 stock Cipla is likely to report a sharp decline in its bottom line for Jan-Mar, mainly due to weak sales in the US and increased competition for the generic cancer drug Revlimid. The pharma company's consolidated net profit is expected to be INR 7.27 billion, down nearly 41% on year. Bharti Airtel is expected to post a net profit of INR 74.29 billion in the March quarter, up nearly 42% from a year ago, excluding exceptional items. Dr. Reddy's Laboratories Tuesday reported a consolidated net profit of INR 2.21 billion for the March quarter, down 86% on year. This was sharply lower than the analysts' estimate of INR 8.95 billion. Its consolidated revenue was INR 75.46 billion, down 11.5% on year, below the Street's view of INR 82.69 billion.  (Arundathi A R)

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Equity Alert: Indices in Asia mixed; mkt cautious ahead of Trump-Xi meeting

 

MUMBAI--0815 IST--Indices in Asia were mixed Wednesday as West Asia woes continued to loom over market sentiment with the stalemate between the US and Iran on finalising the contours of a peace deal continuing. Brent crude oil futures remained higher – above $107 per barrel. Investors are also cautious ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping scheduled Thursday and Friday in China.

 

Indices in South Korea, Japan, and Singapore were in the green while those in China, Hong Kong, Australia, and Taiwan fell during the early hours of trade. South Korea's benchmark KOSPI was supported by shares of heavyweight SK Hynix that gained over 3%. 

 

On the macroeconomic front, South Korea's unemployment rate remained unchanged on year at 2.9% in April, and it trudged downward from 3% in March. The country added 74,000 jobs in the previous month, up 0.2% year-on-year while the number of unemployed citizens fell 0.2% to 853,000. The pace of job additions is the slowest in 16 months, The Korea Herald reported. 

 

The following were the levels of major Asian indices at 0815 IST:

 

Index	Level	Change in %
CSI 300 Index	4946.8607	(-)0.02
Hang Seng Index	26254.92	(-)0.35
Nikkei 225 Day	62882.31	0.22
TOPIX FIRST SECTION	3911.77	1.00
KOSPI	7734.27	1.19
FTSE Singapore Strait Times	4978.01	0.65
S&P/ASX 200 Index	8646.40	(-)0.28

 

(Ruchira Kagita)

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Equity Alert: Wall Street ends mixed; hotter-than-expected CPI print weighs

 

MUMBAI--0740 IST--The technology-driven rally on Wall Street snapped after a hotter-than-anticipated inflation report dampened sentiment. Consumer inflation rose to its highest level since May 2023, driven by elevated energy prices. Retail inflation rose 3.8% year-on-year, with the energy index rising 17.9% and the gasoline index up 28.4%. All major indices except the Dow Jones Industrial Average closed in the red.

 

On a monthly basis, inflation rose 0.6% in April after rsing 0.9% in March. Core inflation, which excludes volatile food and energy costs, went 2.8% year-on-year and 0.4% month-on-month. Inflation remains well above the Federal Reserve's 2% target. Further, inflation outpaced growth in paychecks. Hourly wages rose a seasonally adjusted 3.6% year-on-year through April, The Wall Street Journal reported. The benchmark 10-year treasury ticked up after the higher-than-expected inflation print.

 

"This is hurting Americans. There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains. This is a setback for middle-class and lower-income households and they know it," Heather Long, chief economist at Navy Federal Credit Union, told CNBC.

 

Among the magnificent seven stocks, four fell on Tuesday. Chipmakers also declined, with shares of Intel Corp., Micron Technology, and Advanced Micro Devices falling 3–7%. Qualcomm shares tumbled over 11%. 

 

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

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	49760.56	0.11
NASDAQ Composite	26088.203	(-)0.71
S&P 500	7400.96	(-)0.16

 

(Ruchira Kagita)

 

US$1 = INR 95.62

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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