Equity

Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.

IT, auto and private bank shares advanced while media, pharma and metal shares declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 477.79 points or 0.62% to 77,664.66. The Nifty 50 index added 129.85 points or 0.54% to 24,202.60.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 0.34% and the BSE 250 SmallCap Index declined 0.91%.

The market breadth was strong. On the BSE, 1,132 shares rose and 1,837 shares fell. A total of 141 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,205.56 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,986.41 crore in the Indian equity market on 16 July 2026, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.30% to 6.755 compared with the previous session close of 6.775.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.3050 compared with its close of 96.4200 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement rose 0.24% to Rs 1,40,685.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 100.79.

The United States 10-year bond yield declined 0.48% to 4.547.

In the commodities market, Brent crude for September 2026 settlement advanced 63 cents or 0.75% to $84.86 a barrel.

Stocks in Spotlight:

Wipro fell 1.83% after the company reported a 4.69% decline in consolidated net profit to Rs 3,356.3 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 3,521.6 crore posted in Q4 FY26. Revenue from operations rose 1% QoQ to Rs 24,478.6 crore in the quarter ended 30 June 2026.

Tech Mahindra jumped 2.96% after the company reported a steady performance for the quarter ended 30 June 2026, supported by strong deal momentum and margin expansion. On a consolidated basis, profit after tax (PAT) rose 28.45% year on year (YoY) to Rs 1,465.1 crore in Q1 FY27 from Rs 1,140.6 crore in Q1 FY26. On a sequential basis, PAT increased 8.22% from Rs 1,353.8 crore in Q4 FY26.

Revenue from operations rose 17.68% YoY and 4.22% quarter on quarter (QoQ) to Rs 15,711.9 crore in Q1 FY27 from Rs 13,351.2 crore in Q1 FY26 and Rs 15,076.1 crore in Q4 FY26.

CEAT tumbled 7.55% after the company's reported a 96.43% year-on-year decline in consolidated net profit to Rs 4 crore in Q1 FY27, compared with Rs 112 crore in Q1 FY26. Revenue from operations rose 22.36% year on year to Rs 4,318 crore in the first quarter of FY27 from Rs 3,529 crore a year earlier.

Global Markets:

Asian markets traded lower on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew.

Investors this week reportedly rotated out of semiconductor plays into other sectors such as banking after robust earnings from major lenders, leaving Asia vulnerable to the selloff given its heavier exposure to chips.

Markets in South Korea were closed for a holiday, after the government on Thursday announced it will temporarily ban new listings of exchange-traded funds (ETFs) that are tied ⁠to certain major technology firms, while raising minimum required deposits for retail investors to invest in such products, in an effort to curb volatility.

On the other end, Oil prices were on the rise, with Brent crude futures up 0.7% to $84.83 a barrel, while U.S. crude advanced 0.7% to $79.49 per barrel.

The U.S. began conducting a new wave of strikes against Iran on Thursday to further degrade Iranian military capabilities, the U.S. Central Command said in a statement.

Overnight on Wall Street, chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season.

The Dow Jones Industrial Average (DJI) fell 105.32 points, or 0.20%, to 52,553.32, the S&P 500 (SPX) lost 38.63 points, or 0.51%, to 7,533.77 and the Nasdaq Composite (IXIC) lost 387.28 points, or 1.47%, to 25,881.95.

On the data front, a spate of U.S. economic indicators released on Thursday showed solid core retail sales, a drop in jobless claims ⁠and surging manufacturing activity in the Northeast.

Less positive data came from the housing sector, with a bigger than expected drop in pending home sales and souring homebuilder sentiment reflecting high borrowing costs and strained affordability for would-be homebuyers.

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