Nifty Poised For Positive Open As SGX Nifty Signals Upward Momentum

Indian benchmark indices are expected to open with a positive bias on Thursday, July 16, 2026, as indicated by the SGX Nifty trading at approximately 24,076.50. This follows a session on Wednesday where the Nifty 50 managed to hold above the 24,050 level despite facing significant profit-booking pressure at higher valuations.

The positive sentiment faces headwinds from escalating US-Iran tensions, which have pushed Brent crude prices to approximately $85.48 a barrel, a rise of about 0.53%. The ongoing conflict in the Strait of Hormuz remains a critical concern for global energy supply chains, potentially impacting domestic inflation and import costs if the current upward trajectory in crude prices persists.

Investors should remain cautious as the market navigates these geopolitical uncertainties alongside domestic liquidity conditions. While the index shows resilience, the combination of rising energy costs and potential volatility in the Strait of Hormuz suggests that intraday swings may remain elevated throughout the trading session on Thursday.