India Stocks Outlook
To open higher as crude falls on Iran-Oman talks
This story was originally published at 08:19 IST on 26 August 2026
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By Adhithya Aji
MUMBAI – The benchmark indices are expected to open higher Wednesday after crude oil prices extended losses due to renewed hope that Iran and Oman talks might lead to reopening of the strategic Strait of Hormuz. Tuesday, Iran and Oman discussed "a joint temporary navigational corridor" through the key waterway and make it safe. The GIFT Nifty trends suggested a positive start for the equity markets. Most Asian markets opened higher and US indices ended higher as well.
Iran said it resumed talks with Oman to manage the Strait of Hormuz following the US imposition of economic sanctions on Tehran. Both Iran and Oman have been in talks earlier to control the Strait of Hormuz, Reuters reported. "However, any agreement between these two parties does not mean we will see normalisation in oil flows through the key chokepoint. 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," ING Research said. At 0738 IST, the September futures of Brent crude oil were over 2% lower at $86.44 per barrel. However, the energy prices were nearly 19% higher than the pre-war levels.
At 0741 IST, the September future contracts of GIFT Nifty were at 24566.50, up 47 points or 0.2%. This level is nearly 232 points higher than the Nifty 50's Monday close level of 24334.55. This suggests a positive start for the 50-stock-index today. A sustained trading above 24320 level is expected to take the index towards 24450-24450 points, while a fall below 24250 could lead the index to consolidate in the near term, 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 Monday, foreign investors were net buyers of equity in the domestic market. They bought shares worth INR 15.94 billion. Foreign investors are likely to invest in Indian markets once it shows resilience in earnings recovery, an analyst with a domestic brokerage said. However, elevated crude oil prices act as a major crux for a strong recovery in earnings, according to the analyst.
On Wednesday, most of the Asian indices started on a positive note. The Hang Seng Index was the top gainer gainer in the region, up nearly 1%. Wall Street indices ended higher on Tuesday. End
US$1 = INR 95.41
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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