Mixed Wall Street Cues: IT Bullish, OMCs at Risk on Crude Spike

US markets ended the week mixed — Dow and S&P dipped while Nasdaq advanced on tech strength — even as Middle East tensions and Iran peace talks kept volatility elevated. Energy-driven inflation re-emerged as a key macro concern. All three major indices still posted weekly gains.

For Indian markets, Wall Street's tone sets the opening bias for Nifty/Sensex via SGX Nifty and FII flows. Tech outperformance is a tailwind for export-heavy IT names, while energy-led inflation reignites worries about Fed rate cut delays — a negative for risk assets and EM flows including India.

Indian IT (TCS, INFY, WIPRO, HCLTECH) draws positive cues from Nasdaq strength. Upstream oil (ONGC, OIL India) benefits from firmer crude, while downstream OMCs (IOC, BPCL, HPCL) face margin pressure. Broader Nifty likely opens flat-to-mixed with rupee under mild pressure if crude sustains.

Track Brent crude reaction to Middle East developments, US 10-year yield, and DXY for FII direction. Monitor Nifty IT for follow-through and OMC stocks for breakdown signals. Upcoming US earnings and CPI prints are the next major catalysts.

• •Dow and S&P slipped, Nasdaq gained on tech strength
• •All major indexes posted weekly gains despite volatility
• •Inflation rose due to energy shocks amid Middle East tensions
• •Iran peace talks in focus alongside upcoming earnings