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Informist, Tuesday, Jul. 14, 2026

By Arundathi A R

MUMBAI – Bears are likely to dominate the equity market Tuesday after US President Donald Trump threatened to impose shipping fees on vessels transiting the Strait of Hormuz, pushing crude oil prices back above $80 a barrel. Crude oil supply disruptions are expected to intensify after Trump reinstated the blockade of Iranian ports. The domestic market is also likely to track losses in its Asian peers, most of which were trading lower in early trade.

"The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran," Trump said on Truth Social. "We are reinstating THE IRANIAN BLOCKADE, so named because it is only stopping Iran's ships or customers from entering or leaving. All other countries will have fair and open use of the Strait."

"The U.S.A. will be, from this point forward, known as ‘THE GUARDIAN OF THE HORMUZ STRAIT,'" Trump said. "But as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World." He also said the process and formation will begin immediately.

Brent crude oil rose above $80 per barrel in response to Trump's comments. At 0739 IST, the September Brent crude futures contract was over 1% higher at $84.35 per barrel. Crude oil prices are now nearly 16% higher than their pre-war levels. 

At 0730 IST, the GIFT Nifty July futures contract was at 24044.50, down 29.50 points or 0.1% from its previous close. The GIFT Nifty movement also suggested a lower opening for the Nifty 50 index, as it was over 160 points lower than the Nifty 50's previous close of 24211. "The Nifty 50 index will face resistance at 24300 points and find support at 24000 points," Nirav Harish Chheda, assistant vice president, derivatives and technical research at Nirmal Bang, said.

Market participants will also keep a close watch on the June-quarter corporate results for directional cues on the market, along with global updates and oil price trends. Shares of HCL Technologies will be keenly tracked on Tuesday as the company announced its June quarter results post-market hours Monday.

The information technology giant reported a slight decline in its revenue in constant currency terms for the quarter, while its net profit and revenue in rupee terms came above expectations. The company reported a consolidated net profit of INR 46.24 billion, up more than 3% on quarter and higher than the consensus estimate of INR 44.70 billion. The company's bottom line rose over 20% on year. Its consolidated revenue for the reporting quarter rose nearly 2% on quarter to INR 345.79 billion, higher than the Street's estimate of INR 343.58 billion.

"We are tweaking FY27E/28E EPS (earnings-per-share) by +0.4%/-0.8% as we include Jaspersoft acquisition," Nuvama Institutional Equities said in its report. The brokerage retained its 'hold' recommendation with an over 7% target price cut to INR 1,300. Nirmal Bang Institutional Equities reiterated its 'sell' recommendation on the stock, raising its target price by over 3% to INR 900.

"Post-1QFY27 (Apr-Jun), we have increased our EBIT (earnings before interest and tax) and EPS estimates as currency benefits will be seen over the next 2 years," the brokerage said in its report. Shares of the company ended 4.9% higher at INR 1,221.20 on the National Stock Exchange Monday.

HCL Technologies said there is no change to its revenue guidance for 2026-27 (Apr-Mar) despite robust new deal wins of $2.41 billion in the June quarter and a mega deal win reported early this month. The company's management, in an analyst conference call after results, said that while it was happy to report this strong growth in new bookings and mega deals, the 1–4% band in its guidance for FY27 revenue growth in constant currency terms was already "broader." 

After buying for the past few sessions, foreign institutional investors turned net sellers again on Monday. They net offloaded equity shares worth INR 30.62 billion, while domestic investors continued supporting the market, net buying shares worth INR 21.72 billion Monday.

Among Asian indices, Taiwan's TAIEX shed the most, down 2.6%. South Korea's KOSPI was down nearly 2% in early trade. All three major US indices also settled lower on Monday, with the Nasdaq Composite closing 1.6% lower.  End

US$1 = INR 95.62

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

Edited by Saji George Titus

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