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Informist, Wednesday, Jul. 8, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices may face selling pressure amid escalation in W Asia war

 

MUMBAI--0824 IST--Indian equity indices are expected to face selling pressure at open Wednesday amid renewed escalations in West Asia war and continuation of the last minute profit-booking from the previous session. Overnight, the US struck Iran in response to the latter's attack on three commercial ships that were transiting the Strait of Hormuz. The US called Iran's attacks unwarranted and a clear violation of the ceasefire. Most Asian indices were largely stable at open but have fallen now. 

 

These escalations now undermine the interim peace deal between both the countries reached a month ago. Following these attacks, brent crude oil prices inched up a bit. At 0746 IST, the near-month contract of Brent crude oil traded on the Intercontinental Exchange were 2% higher at $75.9 a barrel. Almost for last two weeks, the crude oil prices hovered around $72 a barrel.     

 

The Nifty 50's attempt to break out above 24500 which was met with late-session profit booking Tuesday and the geopolitical tensions dragged the Gift NIFTY 100–150 points lower, signalling immediate selling pressure at the open, Bhavya Shah, technical analyst at StoxBox, said. For Wednesday's session, "24500 points will act as a critical resistance, followed by major overhead supply at 24800 near the 200-day moving average," the analyst said. "On the downside, 24200 (points) serves as the immediate support ...with the ultimate psychological level at 24000," he added.

 

At 0746 IST, the July contract of GIFT Nifty was at 24231, down 20.5 points or 0.1% from its previous close. On Tuesday, the headline Nifty 50 index closed lower 31.65 points or 0.1% at 24398.70. The 50-stock index had retreated after coming close to 24550 points, the resistance level for Tuesday, and briefly slipped into the red.  (Gopika Balasubramanium)

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Equity Alert: US indices close lower ahead of FOMC minutes

 

MUMBAI--0702 IST--US markets closed lower Tuesday as investors pulled out of AI-linked stocks after sentiment was affected by the rise in oil prices. The Dow Jones Industrial Average and the S&P 500 fell marginally. The Nasdaq Composite fell 1.2%, with chipmakers leading the decline.

 

Oil prices rose after the US launched strikes on Iran in retaliation for attacks on ships travelling through the Strait of Hormuz. Brent crude September futures rose to $75.78 a barrel, up more than 2%. The US also revoked the licence that permitted Iran to sell its oil internationally. US stock futures were near flat as investors weighed on rising tensions in the West Asia and surging oil prices.

 

Investors await the minutes of the Federal Open Market Committee's last meeting, due late Wednesday. The minutes will provide clarity into Federal Reserve Chairman Kevin Warsh's first policy meeting, which left interest rates unchanged while signalling these could be hiked if inflation remains high. 

 

"The FOMC minutes will be [a] wildcard simply because Warsh was so opaque at the most recent press conference," Adam Crisafulli, founder of Vital Knowledge, said in a note as per a CNBC report. "Normally, [Jerome] Powell provided fairly comprehensive accounting of the meeting discussion, but that didn't happen with Warsh, so the minutes, which are likely to be hawkish in tone, could contain some surprises." 

 

Following were the closing levels of major US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52925.15	(-)0.25
NASDAQ Composite	25818.69	(-)1.16
S&P 500	7503.85	(-)0.45

 

(Deesha Jadhav)

 

US$1 = INR 94.96

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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