More Stories

Informist, Tuesday, Jul. 14, 2026

 

By Arundathi A R

 

MUMBAI – Analysts expect the Nifty 50 to retain a positive bias in the near term despite higher crude oil prices and the intensifying war in West Asia. They expect the overall trend to remain positive, as long as the Nifty 50 stays above its crucial support levels. However, market participants will keep an eye on global developments and oil price movements in the coming days. The June-quarter corporate results will be closely watched, as some analysts expect earnings to determine the course of markets over the next month.

 

"If crude crosses $100 (a barrel), then it is worrisome for Indian markets," Geetanjali Kedia, senior research analyst at SP Tulsian Investment Advisory Services, said. At 1605 IST, the September Brent crude futures contract was 4.5% higher at $87.06 per barrel. This was over 19% higher than its pre-war levels.

 

Crude oil prices jumped after US President Donald Trump threatened to impose a 20% shipping fee on vessels transiting the Strait of Hormuz. "The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran," Trump wrote 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 Nifty index is witnessing strong buying support near the 24000 mark, while the key support zones remain placed at 23800 and 23500 levels," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "As long as the index sustains above these crucial support levels, the overall trend remains positive, with the possibility of Nifty moving higher towards the 24500 and 25000 levels in the coming sessions. Additionally, the index is taking support near its 100-DMA, placed at 23984, which further strengthens the support base and indicates a positive technical setup." 

 

Tuesday, the Nifty 50 closed at 24052.05, down 158.95 points or 0.7%. The BSE Sensex settled at 77054.94, down 561.46 points or 0.7%. 

 

"Q1FY27 (Apr-Jun) earnings and monsoon watch will define the course of Indian markets over the next few weeks," said Kedia of SP Tulsian. "FIIs (foreign institutional investors) returning is a factor of India market performance and global macros." 

 

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

 

According to Kotak Institutional Equities, the recent escalation in the war in West Asia is likely to be temporary. "We maintain our constructive view on the macro, notwithstanding the recent escalation in the West Asia war," the brokerage said in its strategy report. The key risk of a large BoP (balance of payments) deficit should be contained due to the steady decline in crude oil prices and targeted measures of the government and the RBI (Reserve Bank of India) to shore up capital account flows," it said.

 

Kotak expects the Indian equity market to see wide valuation dispersion, with consumption and investment stocks trading at fair-to-rich levels. It also believes the quality of earnings is important for sustaining optimism in the broader market, as the brokerage's outlook for the Nifty 50 index and companies under its coverage remains robust.

 

With the rise in crude oil prices, the Indian rupee depreciated, settling at 96.20 per dollar on Tuesday. "Technically, the rupee is expected to remain weak in the 95.75–96.50 range, with crude oil prices, FII flows, and global risk sentiment continuing to drive near-term direction," Jateen Trivedi, commodity and currency research analyst at LKP Securities, said in a note.  End

 

US$1 = INR 96.20

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

 

Edited by Saji George Titus

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.