The BSE Sensex and Nifty 50 are likely to open lower on Thursday, with sentiment remaining fragile due to rising crude oil prices amid the continued blockade of the Strait of Hormuz.
Weak start indicated by GIFT Nifty
GIFT Nifty was trading around the 24,210 mark, at a discount of nearly 171 points to the previous close of Nifty futures, signalling a negative opening for domestic equities.
Previous session: Markets snap winning streak
On Wednesday, Indian equities witnessed sharp losses, ending their three-day gaining run. The Sensex declined 756.84 points, or 0.95%, to close at 78,516.49, while the Nifty 50 fell 198.50 points, or 0.81%, to settle at 24,378.10.
Siddhartha Khemka of Motilal Oswal Financial Services said markets may consolidate in the near term as investors track developments in the US–Iran conflict and the Strait
of Hormuz blockade. While benchmark indices could remain range-bound, broader markets may continue to see stock- and sector-specific action driven by Q4 earnings and news flow.
Asian markets remain strong
Asian markets traded higher on Thursday, supported by the extension of the US-Iran ceasefire and strong cues from Wall Street. Japan’s Nikkei 225 rose 0.6% and touched an all-time intraday high of 60,013.98. South Korea’s Kospi surged 1.75% to a record 6,538.72, while the Kosdaq gained 0.58%. Hong Kong’s Hang Seng Index futures संकेत a flat start.
Wall Street rally overnight
US markets ended higher overnight, with the S&P 500 and Nasdaq Composite closing at record highs amid optimism around the ceasefire extension and strong corporate earnings. The Dow Jones Industrial Average rose 340.65 points, or 0.69%, to 49,490.03. The S&P 500 gained 1.05% to 7,137.90, while the Nasdaq climbed 1.64% to 24,657.57.
Among stocks, Nvidia, AMD, Broadcom, Microsoft, Apple, and Amazon posted gains, while Tesla rose modestly. Shares of GE Vernova, Boston Scientific and Boeing advanced, while United Airlines declined.
Tesla Q1 earnings beat
Tesla reported better-than-expected Q1 results, with profit rising 17% year-on-year to $477 million and revenue increasing 16% to $22.39 billion. The company also outlined plans for higher investments in autonomous mobility, robotics and AI. CFO Vaibhav Taneja raised the capital expenditure forecast to $25 billion, up from $9 billion in 2025. Tesla also posted a positive free cash flow of $1.44 billion, against expectations of a cash burn.
RBI MPC flags geopolitical risks
The Reserve Bank of India kept interest rates unchanged, citing uncertainties arising from the US-Iran conflict. Governor Sanjay Malhotra highlighted risks to exports, commodity supply, energy prices, remittances and global demand due to tensions in West Asia.
Crude oil remains elevated
Brent Crude prices climbed 0.33% to $102.25 per barrel after Iran reiterated that it would not reopen the Strait of Hormuz amid the US naval blockade. US WTI crude also rose 2.81% to $92.13, keeping inflation concerns elevated.
Gold prices steady
Gold prices remained largely flat following the ceasefire extension. Spot gold slipped 0.3% to $4,727.65 an ounce, while silver also declined 0.3% to $77.48.
Stocks to watch on April 23
Several stocks will remain in focus amid earnings and corporate developments.
Infosys will announce its Q4FY26 results, with investors tracking revenue growth, margins, FY27 guidance, deal wins and commentary on AI initiatives, including its collaboration with OpenAI.
Trent will be in the spotlight after approving a 1:2 bonus issue and a dividend of Rs 6 per share, along with plans to raise up to Rs 2,500 crore. The company reported strong Q4 performance, with revenue up 20.2% and EBITDA rising 40%, while margins expanded to 18.6%.
Jio Financial Services has approved a 50:50 joint venture with Allianz Europe B.V. to enter the general insurance business, subject to regulatory approvals.
Cyient will consider a buyback and dividend alongside results, which may lead to stock volatility. L&T Technology Services and Tata Communications will also be in focus following earnings announcements. Tata Communications reported a sharp 74.7% YoY drop in net profit to Rs 263 crore, though revenue rose 9.4%.
Bharat Electronics Limited secured a Rs 569 crore defence order, strengthening its order book. Lemon Tree Hotels expanded its portfolio with two new properties, while VA Tech Wabag formed a new subsidiary for wastewater treatment.
Alembic Pharmaceuticals expanded internationally with a new Philippines subsidiary, and Eveready Industries commissioned a Rs 200 crore alkaline battery plant in Jammu.
Among other developments, Zodiac Energy secured an international solar project, Unimech Aerospace acquired Hobel Bellows for Rs 450 crore, and Bandhan Bank received RBI approval for the appointment of Debasish Panda as part-time chairman.
Overall, markets are expected to remain volatile, with global cues, crude oil trends, and earnings outcomes driving sentiment in the near term.
