Equities may trade range-bound on US-Iran risks

Indian equities may open softer and stay range-bound as US-Iran tensions, higher crude and a weaker rupee curb risk appetite despite recent rebounds. IT is a key drag amid a global tech selloff, while defensives and Reliance help Nifty hold supports near 23,000–23,100.

Updated 11 Jun 2026, 10:59 am IST · next at 11 Jun 2026, 4:59 pm IST

Sentiment

Cautiously negative

· US-Iran escalation, crude spike
· IT correction, weak global tech
· Support zones limiting downside

What matters now

GIFT Nifty signals gap-down, tracking weak global and tech cues
US-Iran tensions lift Brent above $93–94, adding risk-off mood
Nifty IT falls over 2% as Infosys, TCS, HCL Tech drop
Higher oil hurts OMCs, aviation, paints; Reliance in energy focus
Analysts see consolidation with 23,000–23,100 as key Nifty support

Stock categories in play

IT services▼ negativeInfosys, TCS, HCL Tech-led selloff; Nifty IT loses over 2%.Screen lens: Generally screen-friendly but leverage and cash must be checked.
Oil & gas◮ mixedHigh crude aids upstream, hurts OMCs and energy-intensive users.Screen lens: Energy producers usually pass business screen; check leverage ratios.
Aviation▼ negativeJet fuel costs rise as Brent trades above $93–94.Screen lens: Airlines often carry high debt; ratio screening is crucial.
FMCG▲ positiveHUL, Nestlé and defensives outperform during geopolitical uncertainty.Screen lens: Typically halal on business; verify interest and debt levels.
Metals◮ mixedRisk-off mood keeps cyclicals volatile despite domestic support.Screen lens: Metal producers usually permissible; watch leverage and cash ratios.

Geopolitical lens

US-Iran tensions

▼ negative

Higher oil, risk-off mood and volatility, but India equities still resilient.

Strait of Hormuz risk

▼ negative

Supply fears support crude, hurting fuel-heavy sectors and macro sentiment.

For the halal portfolio

Geopolitics-driven swings mainly hit leveraged, fuel-heavy sectors, so focus on balance-sheet strength and Shariah screens.