Opening Bell - 07 / 04 / 2026

Opening Bell - Morning Commentary

Markets Brace as Trump's Iran Ultimatum Nears

Global markets are on high alert as a critical geopolitical deadline approaches. Investors are focused on President Donald Trump’s 8:00 PM ET (6:30 AM IST, Wednesday) ultimatum for Iran to reopen the Strait of Hormuz, with threats of military escalation if a deal is not reached.

WTI Crude Oil climbed to $115 as President Trump reaffirmed his deadline for Iran to reopen the Strait of Hormuz, threatening strikes on Iranian power plants and bridges. The Strait, which handles roughly one-fifth of global oil flows, has remained disrupted since the conflict began on February 28, driving crude prices up approximately 90% year-to-date.

Iran dismissed a U.S.-backed 45-day ceasefire proposal supported by mediators including Pakistan, Egypt, and Türkiye, instead demanding a permanent end to hostilities, sanctions relief, and war damage compensation.

U.S. stocks advanced on Monday, with the S&P 500 gaining 0.44%, the Nasdaq rising 0.54%, and the Dow adding 165 points, as investors parsed mixed signals on Iran negotiations. However, overnight futures retreated as Trump's escalating rhetoric dampened optimism for a ceasefire.

The rupee appreciated by 4 paise supported by risk-on sentiment fuelled by hopes of a de-escalation in the Middle East.

The Nifty climbed 255 points to close at 22,968, marking its third consecutive session of gains. Nifty has never risen for more than three consecutive trading sessions since the U.S-Iran War started in late February. Whether this streak holds or breaks will be the defining market moment of today's session.

The short-term resistance for the Nifty is at 23,465, with supports at 22,800 and 22,540.

Our markets are slated to open half a percent lower on the back of cautious global cues.