India Inc. Braces for Earnings Squeeze as Oil Stays Firm
Nomura sees the Nifty at 24,900 at year-end.
This article is for subscribers only.
Good morning...
I’m Rajesh Mascarenhas, an equities reporter in Mumbai, with a quick mood check on the markets.
Asian equities are up after Nvidia issued an upbeat outlook for artificial intelligence and US shares rallied as ships continued to pass through the Strait of Hormuz. The positive cues could help Indian equities build on Monday’s relief rally, when the Nifty 50 snapped a three-day losing streak.
Expectations that major economies may release additional petroleum reserves to offset supply disruptions also supported risk appetite. Back home, the broader trend remains fragile, with traders continuing to focus on developments around the waterway that is crucial for the country’s fuel supply.
In today’s newsletter, we flag: