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Informist, Monday, Jun. 1, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Seen opening higher; crude oil prices at $93/bbl

 

MUMBAI--0825 IST--Benchmark indices may open higher Monday after closing lower for the previous three sessions. Crude oil prices eased to $93 a barrel even as the US-Iran ceasefire deal remained elusive. The movement of the GIFT Nifty June futures contract also suggested a higher opening for the equity market. The approval of US President Donald Trump for a proposed 60-day ceasefire deal is, however, still pending. Asian markets showed a mixed performance in early trade.

 

According to various media reports, Trump said 'most of the agreement' with Tehran was about nuclear issues. Trump also hinted that he was in no hurry to make a deal. In an interview with Fox News, Trump said he was pressing for a deal that would ensure Iran never acquires a nuclear weapon, CNBC reported.

 

At 0824 IST, the Brent crude oil August futures contract was 2% higher at $93.01 a barrel. Crude oil price rose from the previous close after three straight sessions of decline.

 

At 0755 IST, the June futures contract of GIFT Nifty was 0.2% higher at 23736 points. This was nearly 190 points higher than the Nifty 50's Friday's close of 23547.75. "Technically, this level (23500) remains the immediate support for the index," said Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research. "A decisive break below 23500 could trigger further weakness and lead to a decline towards 23300, which is the next short-term support level. The major support for the index is placed near 23000. On the upside, immediate resistance is seen at 23800, followed by a stronger resistance near 24000.

 

In the latest development, the government Saturday cut the windfall gains tax on the export of petrol, diesel, and aviation turbine fuel for the fortnight starting Monday. The special additional excise duty, or windfall gains tax, on the export of petrol was reduced by INR 1.50 per litre to INR 3.00 and the tax on diesel exports was cut by INR 3.00 per litre to INR 13.50, according to a notification from the finance ministry. The tax on aviation turbine fuel was cut by INR 6.50 per litre to INR 9.50 per litre. There is no change in the existing excise duty rates on petrol and diesel for domestic consumption, the ministry said.

 

In Asian markets, South Korea's Kospi was the top gainer, up over 4%. All three major US indices closed higher on Friday.  (Arundathi A R)

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Equity Alert: South Korea's Kospi, Japan's Nikkei 225 hit record highs Mon

 

MUMBAI--0807 IST--Asian equities gained Monday backed by a rise in South Korea's Kospi and Japan's Nikkei 225 indices on demand for semiconductors and artificial intelligence-related shares. Both indices hit record highs early Monday, gaining over 4% and 1%, respectively.

 

The growth in South Korea's exports accelerated in May, driven by robust semiconductor shipments fuelled by the global AI boom, despite continued uncertainty due to the war in West Asia, Dow Jones Newswires reported. South Korean chipmakers such as Samsung Electronics and SK Hynix continued to benefit from strong chip demand as global technology companies build out AI infrastructure, it said.

 

The country's exports surged by over 53% year-on-year to $87.75 billion in May, following a 48% gain in April, according to preliminary data released by the trade ministry on Monday. The latest reading surpassed the median of 50.8% in a Wall Street Journal survey, the report said.

 

China's CSI 300, Hong Kong's Hang Seng index, and the FTSE Singapore Straits Times were up less than 1?ch. Australia's S&P/ASX 200 index was down 0.1% and was among the only two indices to be in negative territory. Investors now await the release of the March quarter GDP data Wednesday before placing big bets. 

 

The Following were the levels of major Asian indices at 0804 IST:

 

Index	Level	Change in %
CSI 300 Index	4913.1409	0.43
Hang Seng Index	25358.72	0.70
Nikkei 225 Day	67071.10	1.12
TOPIX FIRST SECTION	3948.22	(-)0.23
KOSPI	8849.30	4.40
FTSE Singapore Strait Times	5037.86	0.98
S&P/ASX 200 Index	8719.20	(-)0.14

 

(Simran Rede)

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Equity Alert: US mkt ends up Fri; S&P 500's rising streak longest since 2023

 

MUMBAI--0746 IST--Benchmark indices in the US ended the month of May on a positive note Friday as an ease in the crude oil prices and hopes of progress toward a peaceful resolution to the West Asia war provided the support. Information technology stocks lifted all the three major US indices to end with modest gains. On other hand, benchmark US treasury yields dipped for a fourth straight session Friday.

 

The S&P 500 index ended higher for the seventh consecutive session, marking its longest winning streak since December 2023. Despite the gains, the three indices came off intraday highs by the closing bell. The tech-heavy Nasdaq Composite index closed 0.2% higher, gaining more than 8% over the month. The Dow Jones Industrial Average rose 0.7% but gained just 3% in May.

 

The US and Iran agreed to extend their ceasefire and lift shipping restrictions as peace negotiations proceed, Reuters reported, citing sources. However, US President Donald Trump is yet to approve the deal which, according to Iranian state media, has not yet been finalised, the report said.

 

Trump said he would meet in the situation room "to make a final determination" and reiterated that Iran "must agree that they will never have a Nuclear Weapon," CNBC reported. He also called for the Strait of Hormuz to be "immediately open," the report said.

 

US Federal Reserve officials are now mulling the possibility of hiking interest rates to counter that growing risk of rising inflation. "The three-month-long conflict has put upward price pressure on inflation, which threatens to grow less transitory and more established the longer the war drags on," Reuters said.

 

Following were the closing levels of major US indices on Friday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51032.46	0.72
NASDAQ Composite	26972.62	0.20
S&P 500	7580.06	0.22

 

(Simran Rede)

 

US$1 = INR 95.00

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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