Mixed Cues: US CPI In-Line, Iran War Keeps ONGC, IOC in Focus

S&P 500 and Nasdaq opened higher Friday as March US CPI matched expectations, easing immediate rate-path worries. However, the Iran war and a fragile ceasefire kept geopolitical risk premium intact, capping enthusiasm.

For Indian markets, benign US inflation supports a softer dollar and steadier FII inflows into Nifty/Sensex. But Mideast tensions threaten crude supply, which directly hits India's import bill, INR, and OMC margins — a classic mixed setup.

IT names like TCS, INFY benefit from risk-on US sentiment. OMCs (IOC, BPCL, HPCL) face margin pressure if Brent stays elevated, while upstream ONGC and Oil India gain on higher realisations. Banking (HDFCBANK, ICICIBANK) tracks FII flow direction.

Track Brent crude above $85, USDINR near 83.50, and FII cash data. Any Iran ceasefire breakdown is the key bearish trigger; sustained calm plus soft US data would re-open Nifty upside toward recent highs.

• •S&P 500 and Nasdaq opened higher on Friday
• •March US inflation data largely aligned with expectations
• •Iran war pressures and ceasefire stability under investor watch