Domestic markets are likely to remain under pressure on Wednesday amid renewed escalation in US-Iran tensions. Gift Nifty at 24,225 indicates that Nifty may lose close to 200 points at open. Sentiment from global markets is also negative, tracking overnight weakness in the US stocks.Ponmudi R, CEO of Enrich Money, said Indian equity markets are likely to trade with a cautious bias after fresh US strikes on Iran reignited geopolitical tensions following attacks on commercial vessels in the Strait of Hormuz. The renewed escalation has revived concerns over regional stability and global energy supplies, which could dampen investor sentiment, trigger a risk-off move, and lead to profit booking after the recent rally.“With Foreign Institutional Investors turning net buyers of domestic equities over the past few sessions, market participants are expected to closely track whether the buying momentum continues in the coming days. Sustained foreign inflows will remain a key factor in determining the market’s ability to absorb global headwinds and maintain its recovery momentum at higher levels,” he added.Besides, the focus will also shift to corporate results that will start flowing this week. TCS will announce its results on Thursday (July 9). More than the results, analysts will be keenly watching the management comments on the company’s outlook for the rest of the year.On the derivatives front, India VIX declined 1.44 per cent to 11.65, indicating that volatility remains contained despite the day’s profit booking.The PCR eased to 0.84, suggesting some unwinding of bullish positions in the near term, said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.“Option chain data shows maximum Put Open Interest at the 24,000 strike, followed by the 24,400 strike, reinforcing the 24,000–24,400 zone as a strong support area, while maximum Call Open Interest is concentrated at the 24,500 strike, making it the key resistance. As long as the index holds above the 24,250-24,300 zone, the broader bullish outlook remains intact. A decisive move above 24,500 could revive buying momentum and open the path towards 24,700-24,800, while any dip towards support is likely to attract fresh buying interest,” he added.Meanwhile, Japan’s Nikkei and Korea’s Kospi are down by around 0.7 per cent in early deals on Wednesday.Published on July 8, 2026