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Informist, Thursday, May 14, 2026

By Arundathi A R

MUMBAI – Domestic equity market is likely to hold on to its gains Thursday on hope the talks between US-China may offer some cues over a resolution to the Iran war. Asian markets moved on a mixed note in early trade on the hope of a potential peace deal. Among others, corporate earnings will lend cues to the market. JSW Steel will announce its March quarter results Thursday. 

US Vice-President J.D. Vance said progress is being made with Iran in negotiations to end the war as US President Donald Trump travelled to China for talks, an Al Jazeera report said. Trump travelled to Beijing Tuesday to meet with China's President Xi Jinping. 

Israeli Prime Minister Benjamin Netanyahu's office informed the Israeli leader "secretary visited" the United Arab Emirates amid attacks by the US and Israel on Iran and called the trip "historic", a revelation which the UAE's Foreign Ministry has denied, Al Jazeera reported.

Even though crude oil prices remained above the $100 a barrel mark, it fell from its previous day as the potential US-China talks are expected to give relief to the war-related concerns. At 0733 IST, Brent crude oil July futures were a tad lower from its previous close at $105.52 per barrel. Crude oil will trade at $100–$115 per barrel if the stalemate holds, according to Vinit Bolinjkar, head of research at Ventura Securities. "Asymmetry is to the downside on resolution news — that's the more dangerous gap for anyone short crude," he said.

On the backdrop of the US-Iran conflict, most analysts see foreign investors remaining net sellers for some more time, as the valuations of the Indian market are comparatively more expensive than other emerging markets. They are expected to turn buyers in a gradual process. Wednesday, foreign investors net sold shares worth INR 47.03 billion, while domestic investors bought shares of INR 58.69 billion.

At 0804 IST, the Gift Nifty May futures contract was marginally lower at 23545.50 from its previous close. However, this movement suggested a higher opening for the Nifty 50 index, as it was over 130 points higher than the 50-stock index's previous close of 23412.60. 

"The real reset comes in July when Q1 FY27 management commentary forces a second round of downgrades," Bolinjkar of Ventura said. He advised to use any ceasefire-driven relief rally to reduce exposure. "I'm sitting at the bear end of my range — 8 percent EPS (earnings-per-share) growth base case, with meaningful downside risk if crude holds above $100 through Q2 (Jul-Sep)," he said. 

PL Capital, the new branding of brokerage firm Prabhudas Lilladher, said the information technology industry is doubling down on high-end complex activities that involve decision accountability, risk tiering, artificial intelligence governance and other activities, simplifying the decision-making process. 

JSW Steel is expected to report a sharp increase on year in its consolidated bottom line for Jan-Mar on higher realisations. The company is expected to post a consolidated net profit of INR 25.89 billion, up over 67% on year. Its top line is seen at INR 501 billion, up nearly 12% on year.

Shares of Bharti Airtel will also be in foucus as the company announced its March quarter results post market hours Wednesday. The company posted a lower-than-expected bottom line for the March quarter, owing to a one-time charge on account of regulatory and government levies. Its bottom line rose over 10% sequentially to INR 73.25 billion. However, it fell almost 34% on year. The company's revenue was reported with a 2.6% sequential growth and nearly 16% on-year rise at INR 553.83 billion.

The commerce ministry will release the wholesale price index inflation data for April Thursday. The automobile production, sales, and export data for April will also be announced by the Society of Indian Automobile Manufacturers, later in the day. 

In the US market, barring the Dow Jones Industrial Average, other indices settled at record closing highs in the previous session.  End

US$1 = INR 95.705

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

Edited by Akul Nishant Akhoury

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