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Informist, Wednesday, Aug. 26, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Mkt to open higher as crude oil prices fall on Iran-Oman talks

 

MUMBAI--0836 IST--Indices are expected to open on a positive note as talks between Iran and Oman to manage shipping through the Strait of Hormuz have sparked renewed hopes of the reopening of the key waterway. Crude oil prices traded below $90 per barrel. Global market sentiment was largely positive, with headline indices in Asia opening higher following a positive close to Wall Street benchmarks Tuesday.

 

Iran said it has resumed talks with Oman to manage the Strait of Hormuz after the US imposed new economic sanctions on Tehran. Both Iran and Oman have been in talks earlier to control the Strait, Reuters reported. "However, any agreement between these two parties does not mean we will see normalisation in oil flows through the key chokepoint," ING Research said. "We would likely need to see the US lift its blockade on Iranian ports and ease sanctions on Iran before we see any move towards normalisation." At 0829 IST, the August futures of Brent crude oil were down nearly 3% at $86.15 per barrel.

 

If the Nifty 50 index holds above 24320 points, it will likely move towards 24450-24480, while a fall below 24250 could lead the index to consolidate in the near term, said Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market. "The benchmark Nifty index breached its past six days long congestion range of 300-points (24026–24313 spot zone) on the higher side in the last second tick," Kumar said.

 

On the stocks front, Nuvama Institutional Equities has downgraded watchmaker Titan Co.'s shares to "hold" after a sharp rise in the stock price. The stock gained over 1% in the last seven days and 5% over a month. Tuesday, the stock ended nearly 1% higher at INR 5,124.80. (Adhithya Aji)

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Equity Alert: US indices end higher Tue on fall in oil prices, Treasury ylds

 

MUMBAI--0730 IST--Major US indices closed higher Tuesday as oil prices fell and yields on treasury bonds contracted for the second day. The tech-heavy Nasdaq Composite gained the most among the indices as chip stocks recovered from a selloff ahead of Nvidia's June quarter results due later in the day. Yields on the 10-year treasury note shrunk more than 7 basis points to 4.625%. 

 

The Nasdaq Composite closed nearly 1% higher, while the broader market S&P 500 and the Dow Jones Industrial Average ended around 0.3% higher each. Shares of Nvidia ended more than 2% higher, after a seven-day decline. Shares of peer chipmakers Advanced Micro Devices and Micron Technology ended nearly 5.0% and 2.5% higher, respectively. Shares of Meta closed almost 2% higher, adding further support to the Nasdaq. 

 

Consumer stocks ended notably lower. Shares of Dick's Sporting Goods plummeted after a disappointing quarterly result and ended around 31% lower. Sportswear company Nike's shares ended more than 3% down. Retail stocks like Walmart and Target were also down under pressure, ending around 1% and 4% lower, respectively. A survey showed that US consumer confidence in August was down to its lowest level in seven months, according to a Reuters report.

 

Investor sentiment was down on trade conflict between the US and Canada, after the latter announced retaliatory tariffs against the former. The Canadian government said that they will match the 50% levies that the US President Donald Trump imposed over the weekend, a CNBC report said. Investors will wait for the personal consumption expenditure price index reading for the month of July due later in the day. 

 

Following are the closing levels of major US indices on Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	53577.40	0.3
NASDAQ Composite	26151.30	0.7
S&P 500	7677.28	0.3

 

(Vidhi Thacker)

 

US$1 = INR 95.41

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

 

Edited by Shubhayan Bhattacharya

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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