Indian stock market benchmark indices are expected to open lower on Tuesday, with Gift Nifty trading around 24,047 level, down nearly 159 points from the previous close, indicating a negative start. This follows weakness in global markets, as Asian markets traded lower and the US stock market declined overnight, with the S&P 500 retreating from record highs. On Monday, the Indian stock market pared early gains amid profit-taking but ended higher, with the Sensex gaining 355.90 points, or 0.46%, to close at 77,269.40, while the Nifty 50 settled 121.75 points, or 0.51%, higher at 24,119.30. According to Ponmudi R, CEO of Enrich Money, "Indian equity markets are likely to trade with a cautious bias, as renewed tensions between U.S. and Iranian forces weigh on investor sentiment. Brent crude remains elevated in the $104–107 range, sustaining concerns around potential supply disruptions and reinforcing inflationary pressures."
Technical analysts provide mixed but cautiously optimistic outlook for Tuesday's trading session. Shrikant Chouhan from Kotak Securities notes that "the short-term texture of the market is non-directional and is likely to remain so in the near future. For day traders now, the 77,000 level and the 20-day SMA will act as key support zones. Above these levels, Sensex could continue its positive momentum towards 77,700 – 78,000." Nagaraj Shetti from HDFC Securities observes that "the underlying trend for Nifty 50 remains positive with high volatility, and a decisive move only above 24,300 could possibly open more upside towards 24,600 – 24,800 levels in the near term." Nilesh Jain from Centrum Finverse identifies the immediate psychological support for Nifty 50 at 24,000, followed by the 21-DMA at 23,900, while emphasizing that "a decisive breakout above 24,200 is essential to extend the upmove towards 24,500 levels."
Several major companies reported contrasting financial results for the March quarter, with Jaiprakash Power Ventures experiencing a significant turnaround as it slipped into a consolidated net loss of ₹13.37 crore in Q4 FY26, compared to a profit of ₹155.67 crore in the same quarter last year. Meanwhile, Tata Chemicals faced substantial challenges with its net loss widening to ₹2,116 crore in January-March FY26, primarily due to a ₹1,837 crore goodwill impairment in the US and weak soda ash prices, marking a sharp contrast from the ₹49 crore loss recorded a year earlier. However, several companies demonstrated strong performance with Jindal Stainless achieving impressive profit growth of 41% to ₹834.21 crore for the March quarter, supported by higher revenues versus ₹589.96 crore last year. Sobha Ltd also showed remarkable improvement with net profit jumping to ₹91.83 crore, more than twice the ₹40.85 crore reported a year ago, driven by higher income.
The US-Iran war in the Middle East escalated after both countries exchanged fire on Monday that also drew in the United Arab Emirates, prompting calls for renewed strikes on Iranian targets. The US military said it destroyed six Iranian small boats and intercepted Iranian cruise missiles and drones as Tehran sought to thwart a new US naval effort to open shipping through the Strait of Hormuz. Goldman Sachs estimates that current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with potential drawdown reaching 1 billion bbl by June. Crude oil prices eased after climbing by as much as 6% in the previous session, with Brent oil futures for July falling 0.6% to $113.76 per barrel and US West Texas Intermediate (WTI) crude falling 1.5% to $104.83. Reliance Industries is reducing alkylate output and redirecting feedstock to boost liquefied petroleum gas (LPG) production as the country grapples with cooking fuel shortages caused by the Iran war.
L&T, M&M, Hero Motocorp, and Coforge will remain in focus as these companies are set to release their Q4 results today. Manappuram Finance posted a consolidated net profit of ₹404 crore in the fourth quarter, reversing a loss of ₹191 crore reported in the corresponding period last year. IndiGo has appointed Jochen Hoesch, the former head of artificial intelligence at Airbus, to oversee its AI, data, and analytics functions as India's aviation sector increasingly turns to AI to improve efficiency. Wockhardt delivered a strong turnaround in its March quarter performance, reporting a net profit of ₹164 crore versus a loss of ₹45 crore in the corresponding period last year. Jindal Stainless reported a 43% year-on-year increase in consolidated net profit for the fourth quarter, reaching ₹844 crore, up from ₹591 crore in the corresponding period last year. KEI Industries reported solid March quarter performance, posting double-digit growth across key financial metrics, supported by strong demand in its cables and wires segment. Petronet LNG posted robust quarter-on-quarter performance for the March quarter, with profits rising sharply even as revenue declined.
