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Informist, Thursday, Jul. 9, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices seen under pressure amid renewed West Asia tensions

 

MUMBAI--0810 IST--Benchmark equity indices are expected to be under selling pressure at the open amid a fresh escalation in West Asia, as the US struck Iran for the second straight day. The US launched strikes against Iran late Wednesday. The US called these additional strikes an attempt to degrade their ability to threaten freedom of navigation in the Strait of Hormuz. This comes after the US President Donald Trump ended the truce with Iran on Wednesday afternoon, saying the memorandum of understanding signed with Tehran is "over" in an address in Turkiye.

 

The near-term market sentiment is negative, with rising crude oil prices and uncertainty about whether both the US and Iran will reach a peace deal. While analysts do not expect the situation in West Asia to worsen as much as it did in Mar-Apr, the uncertainty about how things will pan out from here will keep investors from taking large bets. With these fresh escalations in West Asia, crude oil prices shot up to $80 a barrel on Wednesday. At 0728 IST, the September futures contract of Brent crude oil on the Intercontinental Exchange was at $78.7 a barrel, up around 1%. 

 

"Technically, the Nifty 50 index has reached an important price support at 23,800 (points), but a decisive fall below this level may drag it towards 23600-23400 in the near term," Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said. "On the higher side, 24200-24250 (points) will act as immediate resistance," he said. At 0727 IST, the July contract of GIFT NIFTY was at 23970.50, up 31.50 points or 0.1%.

 

Thursday, investors would also focus on the June-quarter earnings of Tata Consultancy Services due later in the day. The company is expected to report a marginal sequential decline in its consolidated bottom line owing to annual salary hikes rolled out across the organisation from Apr. 1. However, its revenue for the quarter is expected to rise slightly, with the depreciation of the rupee against the dollar. Shares of the company ended 1.8% lower Wednesday at INR 2,057.50 on the National Stock Exchange. (Gopika Balasubramanium)

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Equity Alert: US markets close flat; Trump says US-Iran interim deal "over"

 

MUMBAI--0701 IST--US Indices closed flat Wednesday as investor sentiment was affected by renewed US-Iran tensions and a jump in oil prices. US President Donald Trump said he was no longer interested in negotiating a deal with Iran and that the interim deal was "over" after another wave of attacks in the West Asia.  

 

The Dow Jones Industrial Average and the S&P 500 both ended slightly down. Microsoft and Alphabet each fell more than 1% and Meta Platforms lost 2% while SpaceX was down less than 1%. The Nasdaq Composite was marginally up, supported by a rally in Broadcom after it said that its agreement with Apple for supplying chips will be worth more than $30 billion.

 

Uncertainty regarding inflation due to rising energy costs created nervousness about rates hikes among investors. The minutes from the Fed'S June meeting revealed that Fed officials were reluctant to cut rates until they see inflation moving sustainably towards its target. Investors await the weekly jobless claims report and home sales data, both due later in the day, as well as Pepsico's earnings. 

 

"Any assumption of a swift return to normalized Persian Gulf exports is certainly being challenged," said Mason Mendez, global real assets analyst at Wells Fargo Investment Institute, as per a CNBC report. "Given the reduced supply buffer of already low global reserves and inventories, any further escalations are likely to re-enforce a higher geopolitical risk premium in oil prices--even when negotiations eventually resume."

 

Following were the closing levels of major US indices Wednesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52348.39	(-)1.09
NASDAQ Composite	25870.65	0.20
S&P 500	7482.71	(-)0.28

 

(Deesha Jadhav)

 

US$1 = INR 95.55

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

 

Edited by Saji George Titus

 

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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