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Informist, Friday, Aug. 14, 2026

By Arundathi A R

MUMBAI – Analysts expect domestic equity indices to continue moving in a range Friday as the West Asia war and higher crude oil prices remain major overhangs for a directional move. The US Defence Chief's comment that the US military can maintain its blockade on Iran "indefinitely" is also expected to weigh on the smooth global oil supply. However, Brent crude oil for October delivery fell slightly to $86 a barrel from the previous day's high of $89 a barrel.

Pete Hegseth, the US defence chief, said the US military, by rotating its aircraft carriers, can maintain its blockade on Iran "indefinitely", Al Jazeera reported. Iran's military rejected US claims that vessels are passing through the Strait of Hormuz and said no ship can pass without its permission. US President Donald Trump kept on insisting that the US has "total control" over the strait despite dropping shipping traffic through the key waterway, Al Jazeera reported.

"I THINK WE WILL KEEP IT," CBS News reported, citing Trump's Wednesday post on his Truth Social platform. Iran has appeared to demand compensation for an oil spill in the Strait of Hormuz that has washed up on Qeshm Island, saying a foreign bulk carrier appeared to be the source of the slick, according to the CBS News report.

At 0739 IST, the October futures contract of Brent crude oil was marginally lower at $86.74 a barrel, which was still 19% higher than the pre-war levels. Crude oil prices fell for the second session after snapping a six-day rally on Thursday.

At 0743 IST, the August futures contract of GIFT Nifty was marginally lower from Thursday at 24442. This was up over 46 points than the Nifty 50's previous close of 24395.85, suggesting a rangebound movement. "Nifty (50) in the previous trading session recovered after taking support at the 20-DMA (daily-moving average), placed at 24321," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "The overall view remains positive as long as Nifty (50) sustains above the key support levels of the 20-DMA and the psychological level of 24000. Sustaining above these levels could lead the index towards the next resistance of 24600 in the coming sessions."

Shares of Tata Motors Passenger Vehicles will be in focus as the company reported its June quarter results post-market hours Thursday. The company's consolidated bottom line for the June quarter fell sharply on year as the continued underperformance by its UK-based subsidiary Jaguar Land Rover Automotive PLC outshone the strong performance of its domestic car business. The automaker's consolidated net profit for the June quarter was INR 7.75 billion, down 80% on year and 87% on quarter. Its consolidated revenues grew 9% on year but fell by the same quantum on quarter to INR 957.99 billion.

Foreign institutional investors net sold shares worth INR 5.11 billion Thursday. Domestic institutional investors continued buying for the third straight session Thursday and net bought shares worth INR 43.53 billion.

Major US indices settled higher Thursday with the Nasdaq Composite leading the gains and closing around 1% higher. Asian equity indices were mixed, with South Korea's KOSPI gaining the most.  End

US$1 = INR 95.44

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

Edited by Akul Nishant Akhoury

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