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Informist, Thursday, Jul. 30, 2026

By Arundathi A R

MUMBAI – Domestic equity indices are likely to give up the gains logged in the previous session and open lower Thursday due to further escalation in the US-Iran war and the consequent rise in Brent crude oil prices. The US launched attacks on Iran early Thursday as retaliation for the Islamic Revolutionary Guard Corps' attack on Jordan. Analysts are expected to keep a close watch on developments in West Asia, oil price trends, and corporate results for the June quarter. Max Healthcare Institute, Bajaj Finance, Mahindra & Mahindra, and Tata Steel will announce their June quarter earnings Thursday.

The US Thursday resumed air strikes on targets in Iran, bringing an end to a brief operation lull, ANI reported, citing an Axios report. At least four IRGC members were killed in Iraq in US-Saudi strikes, the report said, quoting Iranian media. 

Iraq condemned US-Saudi strikes on the country, with the Popular Mobilisation Forces saying 20 of its fighters were killed, while 32 others were wounded, according to a report by Al Jazeera. The US military said its attacks were a "powerful response to yesterday's attempted Iranian attacks on US forces based in the Middle East."

The US Federal Open Market Committee Wednesday left its benchmark interest rate unchanged for a fifth consecutive policy meeting, keeping the federal funds target range at 3.50-3.75%. The decision was passed by a 9-3 vote, with three policymakers dissenting and voting for raising the federal fund target rate by 25 basis points.

At 0830 IST, the August futures contract of GIFT Nifty was at 24229, down 55 points or 0.2% from its previous close. This was 21 points down from the Nifty 50's previous close of 24250.20, indicating a lower opening for the market. "The positional chart structure remains sideways as long as the index trades within the 23800–24600 spot zone on a closing basis," Vipin Kumar, assistant vice-president at Globe Capital Market, said. "Hence, we suggest that traders maintain a stock- and sector-specific trading approach as long as the index remains sideways."

From the earnings perspective, shares of Max Healthcare Institute, Bajaj Finance, Mahindra & Mahindra, and Tata Steel will be on focus. Bajaj Finance is expected to post net profit of INR 58.71 billion, up 25% on year. Its interest income is expected to be INR 126.73 billion, up 24% on year.

Automobile major M&M is likely to report net profit of INR 35.96 billion in the June quarter, up over 4% on year. Its revenue from operations is expected to be INR 417.39 billion, up a little over 22% on year. Tata Steel's consolidated net profit for the June quarter is expected to be INR 24.44 billion, up 11% on year, while its revenue is seen at INR 588.02 billion.

Eicher Motors reported its June quarter results Wednesday post market hours. The automotive manufacturer reported a consolidated net profit of INR 14.63 billion, up 21.4% on year. Its revenue from operations rose 31.6% to INR 66.32 billion. Both the metrics beat analysts' estimates for the quarter.

Foreign investors continued buying for second session Wednesday and net bought shares worth INR 29.82 billion. Meanwhile, domestic investors net bought shares worth INR 9.98 billion.

All the three major US indices settled lower Wednesday. Asian equity indices were mixed in early trade Thursday, with TAIEX gaining the most among the pack.  End

US$1 = INR 95.6475

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

Edited by Avishek Dutta

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