Indian benchmark indices Sensex and Nifty 50 are expected to open lower on Tuesday, July 14, tracking weak global cues as escalating tensions between the U.S. and Iran pushed crude oil prices higher, weighing on investor sentiment.
At 7:37 AM, GIFT Nifty was trading around 24,051, nearly 167 points below the previous close of Nifty futures, indicating a weak opening for domestic equities. Asian markets traded mixed, while Wall Street ended lower overnight amid a sell-off in Semiconductor stocks.
Global markets remained cautious as U.S.-Iran tensions intensified. U.S. President Donald Trump informed lawmakers that the United States is once again at war with Iran, allowing military operations for up to 60 days without Congressional approval. Separately, Iran-backed Houthi rebels claimed responsibility for missile and drone strikes targeting Saudi Arabia’s Abha airport, increasing concerns over geopolitical risks and energy supply disruptions.
India’s retail inflation accelerated to 4.38 per cent in June from 3.93 per cent in May, mainly due to higher food prices. The inflation figure was above the 4.2 per cent median estimate projected by economists surveyed by Mint.
India’s merchandise trade deficit widened to a five-month high of USD 30.43 billion in June compared with USD 28.21 billion in May. Total exports, including services, increased 9.5 per cent year-on-year to USD 73.45 billion, while imports surged 26.8 per cent to USD 88.76 billion. The overall trade deficit expanded to USD 15.32 billion from USD 2.89 billion in June 2025.
HCL Technologies reported a strong set of Q1FY27 results, with consolidated net profit rising 20.3 per cent year-on-year to Rs 4,624 crore from Rs 3,843 crore. Revenue increased 13.9 per cent to Rs 34,579 crore. EBIT grew 18 per cent to Rs 5,831 crore, while EBIT margin improved by 58 basis points to 16.86 per cent.
The company maintained its FY27 constant currency revenue growth guidance at 1-4 per cent year-on-year and operating margin guidance at 17.5-18.5 per cent. HCL Technologies’ board also declared an interim Dividend of Rs 12 per equity share.
Crude oil prices climbed around 2 per cent to their highest level in four weeks as concerns grew over possible disruptions in energy supplies through the Strait of Hormuz. Brent crude futures rose 2 per cent to USD 84.98 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 2.1 per cent to USD 79.79 per barrel. Brent had surged 9.6 per cent in the previous session, marking its biggest single-day gain since May 2020.
U.S. Treasury yields moved higher as rising crude prices increased inflation concerns. The benchmark 10-year Treasury yield rose 4.9 basis points to 4.618 per cent, while the 30-year bond yield climbed 3.3 basis points to 5.104 per cent. The two-year Treasury yield increased 6.5 basis points to 4.273 per cent.
Japanese government bond yields also edged higher, with the 10-year JGB yield rising 1 basis point to 2.795 per cent, while the two-year and five-year yields remained unchanged.
Gold prices remained under pressure as investors assessed expectations of higher interest rates for longer. Spot gold declined 0.1 per cent to USD 3,996.63 per ounce, while silver slipped 0.3 per cent to USD 57.50 per ounce. The U.S. dollar remained stable ahead of key inflation data, with the dollar index trading near 101.27.
In the derivatives market, the Put-Call Ratio (PCR) for the Nifty July series stood at 1.62. On the put side, significant open interest addition was seen at the 24,000 strike, making it an important support zone. On the call side, the highest open interest addition and concentration were seen at the 24,500 strike, indicating resistance near this level.
The Nifty 50 recovered after finding support near the 24,000 mark and ended the previous session with a positive bias. The index reclaimed its 10-day, 20-day and 100-day exponential moving averages while holding above the 50-day EMA, indicating improving short-term momentum.
A sustained move above 24,300 could push the index towards the 24,400-24,500 zone, while a decisive break below 23,800 may trigger further consolidation. The RSI improved to 55.89, while the MACD remained above the signal line with an expanding positive histogram.
Among stocks in focus, ICICI Prudential Asset Management Company reported a 23.1 per cent year-on-year increase in profit to Rs 964.6 crore from Rs 783.6 crore. Revenue increased 17.6 per cent to Rs 1,564.2 crore from Rs 1,330.7 crore.
Nuvoco Vistas Corporation reported a 20 per cent rise in consolidated profit to Rs 159.8 crore from Rs 133.2 crore, while revenue increased 8.9 per cent to Rs 3,128.7 crore.
Biocon is in focus as Mylan Inc is reportedly planning to sell its entire 5.64 per cent stake through block deals at a floor price of Rs 378.50 per share.
State Bank of India is also in focus as SBI Funds Management launched its Rs 9,813 crore IPO after raising Rs 2,663 crore from 129 anchor investors, including global institutions.
Timken India received Bureau of Indian Standards licences for two product categories across two manufacturing facilities. EMS emerged as the lowest bidder for a Rs 105.81 crore sewerage project from UP Jal Nigam (Urban), Varanasi.
Alembic Pharmaceuticals received a warning letter from the U.S. FDA related to informed consent procedures in a bioequivalence study. The observations do not involve data integrity issues.
Welspun Enterprises’ subsidiary Welspun Pune Shirur Projects signed a sub-concession agreement with MSIDC and the Maharashtra government for the Rs 7,300 crore Pune-Shirur highway project.
Emcure Pharmaceuticals signed share transfer agreements to acquire the remaining 12.05 per cent stake in Gennova Biopharmaceuticals for Rs 231.87 crore, making Gennova a wholly owned subsidiary after completion.
PDS entered into a Sourcing as a Service contract with the sourcing arm of a leading French-headquartered global supermarket chain for textile sourcing across Bangladesh, Pakistan, India, Sri Lanka and Turkey.
Grasim Industries’ subsidiary Aditya Birla Renewables approved the acquisition of 100 per cent stake in Solenergi Power Pvt Ltd from Shell Overseas Investment BV for Rs 17,200 crore, strengthening its renewable energy portfolio.
TBO Tek saw Augusta TBO (Singapore) Pte sell a 2.04 per cent stake through open market transactions, reducing its holding to 3.5 per cent from 5.54 per cent. Butterfly Gandhimathi Appliances received a 20-year patent for its invention titled “Improvised Safety Knob for Gas Cooktops.”
Kaynes remains under the F&O ban for July 14.
Foreign Institutional Investors (FIIs) were net sellers of Indian equities worth Rs 3,062.27 crore on July 13, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 2,171.70 crore.
On Monday, Indian benchmark indices ended almost flat with a positive bias amid volatility caused by elevated crude oil prices and geopolitical concerns. The Sensex gained 47.01 points, or 0.06 per cent, to close at 77,616.40, while the Nifty 50 added 4.10 points, or 0.02 per cent, to settle at 24,211.00.
U.S. markets ended lower on Monday as rising Middle East tensions and higher oil prices reduced risk appetite. The Dow Jones Industrial Average declined 138.31 points, or 0.26 per cent, to 52,498.70. The S&P 500 fell 59.92 points, or 0.79 per cent, to 7,515.47, while the Nasdaq Composite dropped 408.43 points, or 1.55 per cent, to close at 25,873.18.
Major technology stocks including Nvidia, AMD, Broadcom, Intel, Micron Technology, Meta Platforms, Alphabet and Tesla declined, while Microsoft gained 1.53 per cent.