Gift Nifty, July 14, 2026: Markets Set for Weak Open as US-Iran War Escalation Hurts Indices

Mumbai, July 14: Indian equity indices are expected to open in a muted-to-weak zone on Tuesday tracking flat-moving Gift Nifty futures on escalating tensions between US and Iran in the Strait of Hormuz and surging crude oil prices along with negative cues from Asian markets and weak overnight close on Wall Street. 

Gift Nifty futures for July 28 expiry were trading at 24,052.00, down 22 points or 0.09% at 8:32 am, suggesting weak start for Nifty50 and BSE Sensex when they open later in the day. 

Iran War 

Escalating war between US and Iran continues to remain a major overhang on markets. On Monday, the US military conducted attacks on Iran for the third night straight, while President Donald Trump announced that the US was re-implementing a naval blockade of Iranian shipping, and will seek to charge all ships a 20% fee to protect the Strait of Hormuz. Iran fired cruise missiles on two UAE-flagged oil tankers transiting through Strait of Hormuz, killing one Indian crew member on board and wounding eight others. Iran’s Revolutionary Guards also claimed that it had disabled two “offending” supertankers that had failed to respond to warning signals. Reports say explosions have been heard across Iranian cities and Iran’s army chief said Iran targeted a US vessel and American installations in Kuwait. 

Oil Prices 

Oil prices jumped sharply on Monday evening after Iran launched strikes on the Strait of Hormuz at a time when India imports around 85% of its crude requirements, which added to concerns seen in domestic markets earlier. Brent crude rose 2% to $84.98 a barrel and WTI was up 2.1% at $79.79 a barrel in early Asian trade on Tuesday, snapping Monday’s 9.6% surge that was the largest daily percentage gain for Brent crude since May 20,20. The jump in oil prices has pushed crude to its highest levels since June 17 when both sides signed a memorandum of understanding on a ceasefire. 

Asian Stocks 

Asian stocks traded mixed Tuesday morning as Japan’s Nikkei 225 declined 0.84%, Hong Kong’s Hang Seng eased 0.10%, Malaysia’s KLCI advanced 0.94% and Indonesia’s Jakarta Composite rose 1.92%. Pakistan’s KSE 100 sank 1.27%, China’s Shanghai Composite was down 0.19%, while Thailand’s SET index was little changed. 

US Markets 

US markets ended sharply lower on Monday as investors reacted to Middle East tensions between US and Iran, snapping their four-day winning streak. Nasdaq Composite ended down 1.55%, the S&P 500 shed 0.79% and Dow Jones Industrial Average slipped 0.26%. Growth and tech names bore the brunt of Monday’s sell-off. 

Sensex and Nifty ended flat on Monday as gains in IT stocks on the back of strong earnings and commentary from Tata Consultancy Services overshadowed losses in metals, FMCG and infrastructure stocks. The benchmark BSE Sensex ended higher by 47.01 points or 0.06% at 77,616.40 and Nifty50 rose 4.10 points or 0.02% to 24,211. Market breadth remained positive for the second consecutive session. 

As Gift Nifty is pointing to a flat-to-weak opening on Tuesday, traders will look for any further escalation in Strait of Hormuz tensions, movement in crude prices and cues from index heavyweights for major triggers on Tuesday even as underlying tone remains cautious due to worsening geopolitical risks. 

Source

• nseindia.com