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Informist, Monday, Aug. 31, 2026

 

By Adhithya Aji

 

MUMBAI – The benchmark indices are expected to move in range Tuesday as escalation in the US-Iran war and the rise in crude oil prices are likely to weigh on investor sentiment. Investors will also focus on key data releases--June quarter GDP print and August automobile sales, according to analysts.

 

"Indian equities are likely to maintain a cautious bias as renewed US-Iran tensions and rising crude prices weigh on sentiment," Siddharth Khemka, head of research, wealth management, at Motilal Oswal Financial Services, said in a note. "Brent crude oil rose 3.7% to around US$91/bbl (per barrel) after fresh US strikes on Iran, reversing the recent easing and bringing inflation, the rupee and external balances back into focus." Khemka said investors will track August automobile sales data, purchasing managers index readings, and US jobs data this week.

 

India's GDP grew at 7.8% in Apr-Jun, higher than the estimated 7.2%, according to government data released after market hours. "Overall, economic activity remained robust during the April-June quarter despite the adverse impact of the West Asia conflict on some sectors as well as the unfolding impact of the uneven monsoon," Aditi Nayar, chief economist at ICRA, said in a note. 

 

The September quarter corporate earnings are likely to sustain the strength of the June quarter earnings despite the pass on of higher input costs, said Rohit Srivastava, founder of Strike Money and India Charts. In the June quarter, the credit growth was higher, indicating that businesses are willing to borrow and spend more on their operations. "So they (companies) are anticipating that the growth trajectory is positive, which showed up in IIP (Index of Industrial Production) numbers improving as well in the last month," he said. The Index of Industrial Production for July was 6.7%, better than the estimated 6.1%.

 

Srivastava said there is not much selling of domestic equities by foreign institutional investors. "The selling pressure has already gone away since we took the measures on the tax side for debt and the FCNR and other measures which have stabilised the currency," the analyst said. Now, overseas investors have eased their selling of Indian equities and started buying little, he said.

 

"We believe that the short-term market outlook remains weak, but if the market manages to trade above 24,000 then we could see a quick technical pullback from the current levels," Shrikant Chouhan, head of equity research at Kotak Securities, said in a note. The support for the 50-stock index is pegged at around 23990-24000, while the resistance is seen at 24170-24200, according to technical analysts. Monday, the Nifty 50 ended 0.4% lower at 24080.40.  End

 

Edited by Shubhayan Bhattacharya

 

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