Gift Nifty Signals Weak Opening as Crude Oil Price, U.S.-Iran Tensions Weigh on Sentiment

Gift Nifty traded at around 24,049 on Tuesday morning, nearly 193 points below the previous close of Nifty futures, indicating a negative opening for the Indian stock market. The weak signal comes after global risk sentiment deteriorated on the back of escalating geopolitical tensions in the Middle East, which pushed crude oil price higher and pressured global equity markets.

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Gift Nifty Indicates Cautious Start

Gift Nifty remained under pressure in early trade, reflecting caution among investors ahead of the domestic market opening. The decline follows a largely flat session on Monday, when the Sensex ended 47.01 points, or 0.06%, higher at 77,616.40, while the Nifty 50 closed up 4.10 points, or 0.02%, at 24,211.

Investors are also expected to track the ongoing June-quarter earnings season, which is likely to drive stock-specific movements during the session.

Global Markets Trade Mixed

Asian markets were mixed on Tuesday. Japan’s Nikkei 225 edged lower by 0.01%, while the Topix gained 0.30%. South Korea’s Kospi advanced 2.22%, whereas the Kosdaq declined 1.34%. Hong Kong futures pointed to a weaker opening.

Overnight, Wall Street ended lower. The Dow Jones Industrial Average fell 0.26%, the S&P 500 lost 0.79%, and the Nasdaq Composite declined 1.55%, with technology stocks leading the losses.

Crude Oil Price Surges on Geopolitical Tensions

Crude oil price extended gains after the latest developments involving the U.S. and Iran. Brent crude futures climbed about 2% to $84.98 a barrel after posting a 9.6% gain in the previous session, while U.S. West Texas Intermediate crude rose 2.1% to $79.79 per barrel.

The latest rally followed U.S. President Donald Trump’s announcement regarding renewed military action involving Iran and reports of fresh attacks in the region. Investors are assessing the potential impact on global crude supplies, particularly through the Strait of Hormuz.

Domestic Data Remains in Focus

India’s retail inflation accelerated to 4.38% in June from 3.93% in May, according to official data, driven mainly by higher food prices. Meanwhile, the country’s merchandise trade deficit widened to a five-month high of $30.43 billion during June.

Corporate earnings also remained in focus after HCL Technologies reported a net profit of ₹4,624 crore for the June quarter, up 3.03% sequentially, while revenue increased 1.8% quarter-on-quarter to ₹34,579 crore. The company retained its FY27 revenue growth and operating margin guidance and announced an interim dividend of ₹12 per equity share.

Along with Gift Nifty, investors will monitor crude oil price movements, global bond yields, currency trends and additional corporate earnings through the session, as these factors are expected to shape market direction in the near term.