Gift Nifty Trades Muted; Sensex, Nifty Likely to Open Flat-to-Lower on Wednesday

Mumbai: July 14: Gift Nifty traded largely flat through Tuesday’s floor session, setting up a muted- to slightly-negative open for Nifty 50 Wednesday, July 15 as the spectre of US-Iran hostilities renewed rose once again. Gift Nifty’s near-month contract traded last at 23,994.50, down nearly 20 points, or 0.08 per cent, from its previous close at 24,014.50. 

Gift Nifty Intraday Analysis: Tuesday’s Trades (So Far) 

The Gift Nifty July 28, 2026 contract opened Tuesday trading at 24,065.00 and trended higher through the floor session’s morning hours to reach an intraday high of 24,145.50, before easing through the afternoon to 23,994.50, fractionally below its previous close with sellers taking the baton. The session’s intraday low trades at 23,987.00, recorded late. 

Nifty 50 August 25, 2026 futures currently traded at a premium of 88.50 points to the near-month contract at 24,083.00, up 11.50 points, or 0.05 per cent, on the day. 

Should Tuesday’s slight weakness carry through to the close, Nifty 50 will likely open in a tight range around 23,950-24,050 when markets reopen near 9: 15 am Wednesday morning, barring a major overnight shock from global markets. Support edges down to Tuesday’s low of 23,987.00 on Gift Nifty, while resistance is at Tuesday’s high of 24,145.50. 

Oil jumps as US-Iran tensions flare 

Investor caution throughout Tuesday’s floor session had mostly come from tensions between the U.S. and Iran after the U.S. Central Command announced military strikes on Iran had continued for a third straight day. Iran was reportedly attacked for its capabilities to target shipping near the Strait of Hormuz. 

“The attacks resumed overnight, ending a tentative ceasefire last month,” ANZ analysts said in a note Tuesday. “Tanker trackers Vortexa estimate 20% of global crude exports move through Hormuz.” 

President Donald Trump further roiled markets by announcing the U.S. would reinstate its policy blocking Iranian vessels from transiting through Hormuz. Cargo that does pass through the waterway will be taxed by Iran by 20 per cent starting at 4 pm ET on Monday. 

Brent crude rose as much as 3.8 per cent Tuesday to trade around $86 a barrel, its highest price in roughly a month, extending Monday’s nearly 10 per cent rally. WTI crude rose over 2.8 per cent to trade above $80 per barrel. 

About a fifth of global oil flows travel through Hormuz, so traders are closely watching for signs that tanker traffic will be disrupted. Any shortages could prove disastrous for energy importing nations like India. 

Of course, that’s if tensions don’t escalate any further before Wednesday’s open. If global markets, crude prices and geopolitical headlines cool off through late Tuesday night, the above prediction could stand. Any deterioration in the Strait of Hormuz situation, a big move in oil prices or Washington or Tehran-related headlines could change the complexion of Nifty50 Wednesday morning. 

Source

• nseix.com