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Informist, Friday, Aug. 28, 2026

By Adhithya Aji

MUMBAI – Equity indices are expected to open on a subdued note Friday as crude oil prices rise after US President Donald Trump said he is not interested in returning to the terms of the ceasefire deal with Iran. The comments suggest that the war in West Asia is likely to continue, raising concerns over energy supplies. For India, a net importer of crude, higher energy prices will remain a major overhang for the markets.

Crude oil prices rose after a Wall Street Journal report said Trump told mediators he was not interested in a ceasefire deal similar to the terms agreed in June. In June, the US and Iran signed a memorandum of understanding for a 60-day ceasefire deal, which ended in July. At 0730 IST, October Brent crude futures were at $89.18 per barrel. It had risen over 2% to a high of $89.70. Market experts believe the current level of crude oil does not provide any relief. Equity markets are expected to see a positive trigger when crude oil prices ease to around $75–$80 per barrel, according to an analyst.

At 0754 IST, the September futures contracts of GIFT Nifty were at 24263.50, up 44.50 points or 0.2%. This indicates a subdued open for the Nifty 50. "Going forward, a decisive close below 24,000 spot levels could drag it toward 23,800, followed by 23,600," Vipin Kumar, senior technical and derivatives analyst at Globe Capital Market, said. Sustained trading above 24200 could lead it back toward the upper band of the range at 24380–24400, he added.  

On the macro front, the Reserve Bank of India is likely to raise its GDP growth forecast for 2026-27 (Apr-Mar) at the Monetary Policy Committee meeting in October, Nomura said. The brokerage raised its FY27 GDP growth to 7% from 6%. "While we think an upside surprise will bolster the MPC's confidence in the growth resilience, we expect inflation to average below the RBI's forecasts," the brokerage said. Nomura said that despite supply-chain disruptions from the war in West Asia and elevated crude oil prices, the economy was resilient in the June quarter. GDP growth for the June quarter is estimated at 7.8%, similar to the March quarter. This reflects the limited pass-through of retail oil prices, low inflation, and stronger consumption. Better-than-expected June quarter earnings also point to resilient economic activity.  End

US$1 = INR 95.54

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

Edited by Saji George Titus

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