GIFT Nifty Opening Update
GIFT Nifty opened today at 24,111.00. It is down -10.50 points (-0.04%) from yesterday’s close of 24,095.00— so the trend is negative.
The Indian stock market exhibited limited movement for the second consecutive session on Thursday, July 16, as escalating geopolitical tensions in the Middle East, persistent weakness in the rupee, and elevated crude oil prices dampened investor sentiment. Market participants exhibited a degree of caution in anticipation of forthcoming June-quarter earnings announcements, opting to await new corporate earnings signals prior to committing to substantial positions. The benchmark Nifty 50 and Sensex concluded the session nearly unchanged, whereas the broader market indices recorded modest declines. “The benchmark indices witnessed continued range-bound activity. The Nifty ended 6 points lower, while the Sensex was up by 1.40 points. Among sectors, the Consumer and Media indices rallied over 1 percent, whereas the Capital Market index lost the most, shedding over 2 percent. Technically, after a muted open, the entire day market hovered between 24,000/7,7000 and 24,200/7,7500 price ranges. A small candle on the daily charts and non-directional activity on intraday charts indicate indecisiveness between the bulls and the bears,” said Shrikant Chouhan.
Chouhan further stated that as long as the market remains within the 24,000/7,7000 to 24,200/7,7500 range, the prevailing range-bound dynamics are expected to persist. “On the positive side, above 24,200/7,7500, the market could move till 24,300-24,350/7,7800-7,8000.” On the downside, below 24,000/7,7000, selling pressure is expected to intensify. Below this level, the market may revisit 23,800, or 23,750/7,6500-7,6300,” he added. As the market continued to exhibit a range-bound behaviour, certain stocks are expected to attract attention on Friday owing to their individual positive or negative catalysts.
Equities to Monitor:
- Reliance Industries, JSW Steel, Tata Technologies, and Federal Bank shares are expected to attract attention today as these companies announce their Q1 results for 2026.
- Wipro – For the quarter ended June, the Bengaluru-headquartered IT services firm reported a 1.2% decline in constant currency revenue, lagging behind its peers.
- Tech Mahindra reported a profit for the June quarter that was below expectations, failing to meet analysts’ estimates. However, it demonstrated robust sequential growth and margin expansion, with deal wins surpassing the $1 billion threshold for the third consecutive quarter.
- Jio Financial Services on Thursday announced a 156% year-on-year increase in consolidated profit after tax, reaching Rs 830 crore for the quarter ending June 30, 2026 (Q1 FY27).
- HCL Tech has entered into a seven-year agreement with The Guardian Life Insurance Company of America, thereby expanding their existing partnership. As part of the agreement, it will acquire Guardian India, the insurer’s global capability center, with nearly 2,000 employees poised to join the IT services company.
- PC Jeweller’s board has sanctioned the raising of up to Rs 1,000 crore via a qualified institutions placement in one or more tranches. The board has also approved a proposal to increase the company’s authorised share capital, pending shareholder and regulatory approvals.
- Piramal Finance on Thursday reported a 67% year-on-year increase in consolidated profit after tax to Rs 461 crore for the quarter ended June 30, 2026, compared with Rs 276.3 crore in the same period last year.
- Hexaware Technologies has announced a partnership with Factory to offer agent-native software development capabilities to enterprise clients in professional services, banking and financial services, and various other industries globally.
- CEAT on Thursday reported a 96.4% year-on-year decline in net profit to Rs 4 crore for the first quarter of FY27, a significant decrease from the Rs 112 crore recorded in the same quarter of the previous financial year.