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Informist, Wednesday, Aug. 5, 2026

By Arundathi A R

MUMBAI – Headline equity indices are expected to move in a range and then move upwards Wednesday after snapping a four-day winning streak in the previous session. Uncertainties over the reopening of the Strait of Hormuz have begun to fade after Iran confirmed that talks with Oman on safe traffic through the Strait were advancing. Reacting to this optimistic turn, crude oil prices also fell, aiding market sentiment. Market participants await further decisions from the ongoing negotiations. They will also track the Reserve Bank of India's monetary policy decision Wednesday, besides developments in West Asia, crude oil prices, and corporate earnings. Shares of Power Grid Corp. of India will be in focus as the company will detail its June quarter earnings later in the day.

Iranian Foreign Ministry Spokesperson Esmaeil Baghaei said Iran and Oman were continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, with discussions focused on designating safe inbound and outbound lanes, Al Jazeera reported. US Secretary of the Treasury Scott Bessent said a deal to open the Strait of Hormuz could come as early as "today or tomorrow," according to the report. He added that the deal would allow "freedom of movement" for commercial vessels.

Trump and Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, discussed efforts to narrow differences between Washington and Tehran and improve the prospects for a lasting settlement during a phone call Tuesday, Reuters reported, quoting Qatar's Emiri office. On hopes of a deal to reopen the Strait of Hormuz, oil prices fell to an over three-week low of $78.41 a barrel. This was nearly 8% higher than the pre-war levels of crude oil. The October futures contract of Brent crude oil was at $79.67 a barrel early Wednesday.

At 0734 IST, the August futures contract of GIFT Nifty was 0.1% down from its previous close at 24741.50. This was over 125 points higher than the Nifty 50's previous close of 24614.90 after the closing auction. After the continuous trading session at 1515 IST, the Nifty 50 settled at 24463.45 points Tuesday, down 1.3%.

The Reserve Bank of India's Monetary Policy Committee is expected to keep interest rates on hold and maintain a neutral policy stance Wednesday, owing to uncertainty over the impact of the war in West Asia and the El Nino condition on economic activity and inflation. The Monetary Policy Committee will hold the repo rate at 5.25%, all 18 economists and market participants polled by Informist said.

Power Grid Corp. of India Ltd. is expected to report a net profit of INR 39 billion for the June quarter, up 7% on year. Its revenues for the reporting quarter are expected at nearly INR 123 billion, a jump of nearly 24% on year. The electric power transmission company's revenues are likely to be aided by high demand for power due to a delayed monsoon. However, the bottom-line growth is seen relatively slower, despite commissioning of projects and asset capitalisation, due to continued capital expenditure, according to analysts.

Shares of Bharti Airtel will also be in focus, as the company reported its June quarter earnings Tuesday post-market hours. The telecommunications giant's bottom line grew sequentially for a second consecutive quarter. Its consolidated net profit for the June quarter rose nearly 12% sequentially and over 37% on year to INR 81.67 billion. Its consolidated revenue from operations rose 5.7% sequentially and over 18% on year to INR 585.39 billion. The company recognised a one-time cost of INR 3.53 billion in the June quarter on account of a provision for in-principle settlement of a commercial dispute in one of the group subsidiaries in Africa. 

Foreign institutional investors continued their buying for a sixth straight session Tuesday, and net bought equity shares worth INR 24.46 billion. Domestic investors net sold shares worth INR 9.36 billion Tuesday after two sessions of buying.

All three major US indices closed significantly higher Tuesday, with the Nasdaq Composite gaining 2.6%. Asian equity indices were mixed, with most of them gaining in early trade. South Korea's KOSPI was the top gainer, up over 4%.  End

US$1 = INR 95.3775

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

Edited by Himanshi Gupta

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