Gift Nifty, July 15, 2026: Flat Opening Likely For D-Street as Global Rally Meets Rising Crude Worry

Mumbai, July 15: Indian markets to start flat on Wednesday as Gift Nifty shows muted cues even as Wall Street closed firm on Tuesday and most Asian markets trend higher in early trade on Wednesday. The weak start from Gift Nifty comes after both the Nifty 50 and the BSE Sensex ended sharply lower on Tuesday, pressured by rising crude oil prices and geopolitical tensions brewing in the Middle East region. 

Gift Nifty 

Gift Nifty futures for July 28 traded at 24,038.00 at 8:01 am on Wednesday, down 22.50 points or 0.09 per cent. The slight drop levels the contract just below Tuesday’s close of the Nifty 50 at 24,052.05 and suggests a flat open for domestic benchmark index Nifty 50. Traders seem to be refraining from making directional bets before the opening ring and global cues have not seen much follow through into Indian markets. 

US-Iran tensions escalated once again this week. After tensions had calmed briefly with the formation of a shaky ceasefire between the US and Iran last month in June, fresh hostilities flared between the two countries with US President Trump announcing on Tuesday that he has reinstated a naval blockade across all Iranian ports. The US President also threatened further action on Iranian power plants and bridges come next week if Tehran refused to restart talks and negotiations with the US as military forces carried out fresh strikes in Iran on Tuesday.  

Iran retaliated by launching drone attacks and missile strikes on US military bases in Jordan and coalition forces in Bahrain and Kuwait. Two oil tankers also came under missile attack in the Strait of Hormuz. Iran has since shut down the Strait of Hormuz which is the world’s most important oil choke point once again, raising concerns of further supply disruptions from the region even as Iran and the US traded accusations over who was to blame for breaking the ceasefire. 

Most Asian markets traded higher on Wednesday morning, tracking Wall Street’s firm close on Tuesday. Japan’s benchmark Nikkei 225 traded 0.90 per cent higher at 68,353.91 while Hong Kong’s Hang Seng Index rose 0.68 per cent to 24,505.71. Malaysian benchmark FTSE Bursa Malaysia KLCI and Vietnam’s benchmark VN30 gained 1.12 per cent and 1.58 per cent while Australia’s All Ordinaries and China’s Shanghai Composite traded marginally higher. Pakistan’s KSE 100 was the only index trading significantly lower on Wednesday morning, shedding 3.56 per cent. Indonesia’s JSX Composite and Thailand’s SET index were trading with minor moves. 

US markets ended higher on Tuesday with the Nasdaq Composite gaining the most among the three main benchmarks. The tech-heavy Nasdaq rose 0.90 per cent to settle at 26,107.01 while the S&P 500 gained 0.38 per cent to close at 7,543.59. The Dow Jones Industrial Average traded marginally higher by 0.02 per cent to end Tuesday’s session at 52,508.27. Crude oil prices rallied amid concerns over potential supply disruptions from the Strait of Hormuz through which roughly one-fifth of global oil and gas shipments used to pass till last year traded higher. Brent crude settled 2 per cent higher on Tuesday at a one-month high. 

Benchmark Brent crude futures rose 1.72 per cent to USD 86.19 a barrel and West Texas Intermediate crude was up 1.4 per cent at USD 80.40 a barrel in early trading session on Wednesday after rallying on Tuesday as well. Rising tensions between the US and Iran sparked concerns over supply disruptions through the Strait of Hormuz through which roughly a fifth of global oil shipments pass until tensions started last year. Brent crude has now closed at its highest level since June 12 for the second consecutive session. 

Both Sensex and Nifty ended sharply lower on Tuesday dragged by rising crude oil prices and geopolitical tensions brewing in the Middle East region amid already weak market sentiment due to the early stage of the June-quarter earnings season. The Sensex dropped 561.46 points or 0.72 per cent to close at 77,054.94 and the Nifty 50 fell 158.95 points or 0.66 per cent to settle at 24,052.05 taking the index below the 24,100 psychological resistance level. Decliners outweighed gainers with 2,632 stocks ending lower compared with 1,422 gaining while 190 shares were unchanged. 

Source

• nseindia.com
• https://www.reuters.com/world/middle-east/iran-says-it-struck-us-air-base-jordan-us-military-ends-five-hours-attacks-2026-07-14/
• https://www.reuters.com/markets/stocks/us/
• https://www.reuters.com/business/energy/oil-rises-after-us-iran-hostilities-flare-again-with-strikes-energy-targets-2026-07-15/