The Nasdaq closed lower as investors worried about the Strait of Hormuz. U.S. crude oil prices jumped significantly amid the ongoing Middle East crisis. Intel shares fell after the company announced plans for a large share sale. Traders are now less confident about a Federal Reserve interest rate hike. Strong corporate earnings results previously boosted the S&P 500 to a record high.
As treasury yields climbed on Monday, investors geared up for significant inflation data due later this week. The ongoing geopolitical tensions in the Middle East have added an extra layer of uncertainty to the markets. Traders are particularly focused on the upcoming consumer and producer price index reports, while expectations surrounding Federal Reserve rate hikes have eased slightly. Moreover, upcoming Treasury auctions could have a critical impact on bond pricing.
Oil prices rose significantly as Iran and the United States exchanged compensation demands. Prospects for reopening the Strait of Hormuz dimmed due to these escalating tensions. Ukraine continued to strike Russian refineries and tankers, further impacting supply. Saudi Aramco postponed a refinery restart after recent Houthi attacks. US Strategic Petroleum Reserve stocks reached their lowest level since 1983.
NSE Indices announced major semi-annual rejig changes across Nifty 500, Nifty 100 and Nifty Next 50, effective September 30. BSE, Polycab, Hitachi Energy India, Vodafone Idea and Wipro will enter key indices, while several companies face exclusion.
Milky Mist Dairy Food raised ₹465.29 crore from anchor investors ahead of its IPO opening on August 11. The ₹1,553 crore issue offers shares priced at ₹133-140, with a minimum investment of ₹14,980. The IPO closes August 13, targeting a listing on August 18.
Major Wall Street indexes opened with minimal changes on Monday. Investors considered Middle East developments and awaited key inflation data. The Dow Jones Industrial Average saw a slight increase at the opening. The S&P 500 and Nasdaq Composite experienced minor declines. This trading session reflects investor caution ahead of significant economic reports.
Vodafone Idea Q1 Results: Debt-ridden telco Vodafone Idea on Monday narrowed its consolidated losses in the first quarter to Rs 3,754 crore. The loss stood at Rs 6,608 crore in the last year quarter. Revenue from operations increased 6% YoY to Rs 11,689 crore.
Bharat Forge shares plunged nearly 9% after the company reported an Rs 89.89 crore consolidated net loss in Q1 FY27, compared with a Rs 284 crore profit a year earlier. One-time restructuring and VRS costs of Rs 358 crore hurt earnings. Revenue rose 19%, while defence revenue surged 87%, despite lower margins.
Astra Microwave shares fell nearly 9% after Q1FY27 profit declined 24% and revenue dropped 12% year-on-year. EBITDA also weakened, while margins narrowed. The defence company announced a leadership transition, with M.V. Reddy set to become managing director from October.
HSBC Mutual Fund remains constructive on Indian equities, citing improving earnings, private capex, policy support and potential trade deals. However, elevated commodity prices, weak global growth, a below-normal monsoon and slower government capex remain key risks for markets.
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