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Informist, Friday, Jul. 10, 2026

 

By Arundathi A R

 

MUMBAI – Owing to recovery in earnings, comfortable valuation levels, and improving foreign investment flows, analysts see a positive bias in the domestic equity market in the coming week. However, the indices are expected to be volatile, taking into account the possibility of further escalation in West Asia over the weekend. Shares of information technology stocks LTM and HCL Technologies will be in the spotlight as they will detail their June quarter results Saturday and Monday, respectively.

 

According to a CNBC report, US President Donald Trump Wednesday said he does not know whether Washington and Iran are returning to a full-fledged war, but he told reporters that Iran "badly" wants to make a deal to stop the escalating hostilities in West Asia. He added that Iran had called to make a deal with the US after a series of American strikes.

 

"Profitability (of Nifty 50 companies) will be close to 9% in the June quarter," said Sanjeev Hota, head of equities strategy at Standard Chartered India. He expects the top-line growth of Nifty 50 companies to be close to 16–17% and said margin pressure will be quite visible in this quarter.

 

"Q1FY27E (Apr-Jun earnings estimates) should be understandably soft, with average Brent at $97/bbl and supply tightness across multiple sectors," Emkay Global Financial Services said in its strategy report. "We see little risk to the FY27E Nifty EPSg (earnings-per-share) forecast of 15%, with demand remaining strong and some margin tailwinds kicking in from 2QFY27E (Jul-Sept) onwards."

 

Foreign investors net sold shares worth INR 5.3 billion Thursday after buying for the past four sessions. Domestic investors were net buyers with net purchases of shares worth INR 20.58 billion.

 

LTM is expected to post a consolidated net profit of INR 14.48 billion, up nearly 9% on quarter. The estimated sequential growth is well below the rise of 43% in the March quarter, but better than the fall of around 31% reported in the December quarter. On year, the company's bottom line for the June quarter is expected to rise over 15%. Shares of LTM ended nearly 5% higher from Thursday at INR 4,037.20 on the National Stock Exchange.

 

"A break on either side of 23800–24600 will trigger the next short-term directional move," Vipin Kumar, assistant vice-president of research at Globe Capital Market, said. "Hence, we suggest that traders adopt a stock-specific trading approach for the time being."

 

Friday, the Nifty 50 ended 1% higher at 24206.90, up 244.10 points. The BSE Sensex closed 1.1% higher at 77569.39, up 827.57 points. India VIX, the market's fear gauge, fell over 8% to 12.2525 points.

 

The Nifty PSU Bank and Nifty Bank were the major gainers among sectoral indices Friday, up over 3% and over 1%, respectively. Indian Bank posted a rise in total income, which helped the lender return to double-digit profit growth after two quarters of decline. The bank posted a net profit of INR 32.73 billion, slightly higher than INR 29.73 billion in the corresponding quarter a year ago. "Going ahead (Nifty Bank) index to consolidate in the range of 56500–58700," according to a note by Bajaj Broking Research. "A weakness below Wednesday's low 56550 will open downside towards the key short-term support of 55500–55000 levels."  End

 

US$1 = INR 95.32

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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