Markets Set for Flat-to-Positive Open on Gift Nifty Cues; Sentiment cautious amid Iran War Scare on July 16 2026

Mumbai, July 16: Markets are likely to open flat-to-positive on Thursday on cues from Gift Nifty futures. Asian stocks traded mixed while Wall Street ended strong overnight with all four major US benchmarks closing higher. However, investors remain guarded as Iran-US tensions escalated further on Wednesday with fears rising over a broader conflict that could further push up oil prices. Iranian crude has already rallied for four consecutive sessions. 

Gift Nifty 

On Gift Nifty front, futures for July 28 expiry declined 11 points or 0.05 percent to 24,092.00 as on 7:22 am on Thursday. Gift Nifty contract was trading above the Wednesday’s closing of Nifty50 at 24,078.50, which signals a positive start to Thursday’s session. 

Wall Street closed firmly higher overnight while Nikkei225 plummeted overnight in Japan. Shanghai Composite, HNX 30 and Hang Seng edged down too. 

Asian Markets 

Asian stocks were mixed on Thursday morning with Hong Kong and Malaysia’s markets trading in the green. Japan and China dipped in early trade while Vietnam posted its sharpest fall among major Asian indices. 

Japan’s Nikkei 225 plummeted 2.84 percent or 1,919.16 points to 66,799.62. Shanghai Composite shed 0.88 percent to 3,920.81. Vietnam’s HNX 30 plunged 2.09 percent or 10.91 points to 494.45. Hong Kong’s Hang Seng skyrocketed 1.40 percent or 352.79 points to 25,025.56. Pakistan’s KSE 100 surged 1.02 percent or 1,782.89 points to 175,285.78. Malaysia’s FTSE Bursa Malaysia KLCI edged up 0.09 percent. Indonesia’s JSX Composite advanced 0.16 percent. Thailand’s SET Index rose marginally. Australia’s ASX All Ordinaries lost 0.09 percent. 

US Markets 

In the US, Dow Jones Industrial Average edged higher by 150.37 points or 0.29 percent to close at 52,658.64. Nasdaq Composite rose 0.62 percent to 26,269.23. S&500 climbed 28.81 points to settle at 7,572.40. NYSE Composite gained 0.11 percent to 23,872.53. 

Investors likely remain cautious before placing big bets amid tensions between Iran and US. Volatility might continue during the day as market assesses cues from global markets and Iran conflict. 

Iran War 

The US attacked Iran’s coastal defence system and missile bases early Wednesday after re-imposing a naval blockade of Iran’s ports. Tehran retaliated immediately after the strikes and tensions between the two countries escalated following the collapse of a fragile truce earlier this week. 

Iran’s top negotiator Mohammad Baqer Qalibaf warned Wednesday that Tehran’s conflict with Washington was now an “existential war”. “Iran’s presence in the Strait of Hormuz will continue as usual…and America should know Tehran’s decision about maintaining its own management of Strait of Hormuz,” he added. 

Iran’s Islamic Revolutionary Guard Corps said it targeted US military bases in Bahrain, Kuwait and Jordan. Kuwait military said they intercepted four missiles and 21 drones fired from Iranian territory.  

US President Donald Trump tweeted Wednesday that Iran “will be coming to terms” soon and “want to make a deal”. He later said in a statement: “Iran looked very much about making a deal but was attacked by Iran military.” Iran permitted release of American national Siamak Namazi on Wednesday who was barred from leaving the country since 20 years ago. The White House called it a “goodwill gesture” as tensions escalated between Tehran and Washington. 

Oil Prices 

Brent crude futures advanced 0.4 percent to $85.28 a barrel, while West Texas Intermediate climbed 0.5 percent to $80.02. Both benchmarks were trading near their one-month highs. 

Analysts believe Brent crude prices could test the range of $85 to $87 in the near term. Goldman Sachs said oil could breach $110 a barrel later this year if Iran blocked Strait of Hormuz shipping route. 

Sensex and Nifty on Wednesday 

On Wednesday, BSE Sensex closed 130.49 points or 0.17 percent higher at 77,185.43. NSE Nifty50 added 26.45 points or 0.11 percent to finish at 24,078.50. Sensex traded above 24,200 levels at one stage before profit-booking kicked in. Most of the early gains were wiped out by the closing bell. 

Banking, capital goods, consumer durables and oil & gas shares advanced while metal, IT and FMCG stocks fell. Sentiment remained tilted to the positive side with more stocks advancing than declining. India VIX dropped over 3 percent as volatility expectation eased. 

Source

•  nseindia.com