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Informist, Wednesday, Jul. 15, 2026

 

By Arundathi A R

 

MUMBAI – The Nifty 50 is likely to move in a range on Thursday due to the absence of solid cues that could trigger a significant move in either direction. Further escalation in the ongoing attacks between the US and Iran, and crude oil prices climbing to $85 a barrel, are expected to keep sentiment in the market negative, analysts said. Meanwhile, market participants are highly likely to focus more on the June quarter results of information technology giants Wipro and Tech Mahindra, scheduled for Thursday.

 

"I don't see the market going below the 23750 level," Vinit Bolinjkar, head of research at Ventura Securities, said. "If it goes below this level, then there should be a structural problem in the market's growth," he said. Bolinjkar hopes for positive news within a week's time which could fuel up positive momentum in the market.

 

On Wednesday, the Nifty 50 settled 0.1% higher at 24078.50, up 26.45 points from its previous close. The BSE Sensex settled 0.2% higher at 77185.43, up 130.49 points. Rupak De of LKP Securities expects the Nifty 50 to remain in a range of 23950-24250. He expects the market to adopt a directional move only if the Nifty 50 breaks out from these levels. "In case of any fresh escalation in West Asia, the possible level for the Nifty 50 to fall further is 23500.   

 

While most analysts see a consolidated phase for the indices, some expect volatility in the upcoming sessions. "The near-term outlook for Indian equities remains mixed," Siddhartha Khemka, research head of wealth management at Motilal Oswal Financial Services, said in a note. "Elevated geopolitical tensions in West Asia, Brent crude oil prices above US$85/bbl and the rupee weakening to a one-month low of around INR 96.4/US$ are expected to keep volatility elevated. However, the ongoing Q1FY27 (Apr-Jun) earnings season is expected to provide support to market through stock-specific action."

 

As the June quarter earnings season has already gained momentum, shares of Jio Financial Services, Wipro, and Tech Mahindra will be in focus, as these companies will announce their results Thursday.

 

Wipro is expected to post a marginal sequential decline in its consolidated bottom line for the June quarter owing to the incremental impact of wage hikes for two months and acquisition-related charges. Its net sales are likely to rise slightly due to depreciation of the rupee against the dollar. The company's consolidated net profit for the June quarter is expected to decline over 1.8% sequentially to INR 34.37 billion, while its revenue from operations for the quarter is likely to grow 2.4% sequentially and over 12% on year to INR 248.19 billion.

 

Tech Mahindra's consolidated net profit for Apr-Jun is expected to rise around 18% on quarter to INR 15.96 billion. The IT giant's consolidated revenue for the June quarter is expected to rise 2.5% sequentially to INR 154.54 billion. According to analysts, continued cost optimisation under its margin improvement programme Project Fortius and depreciation of the rupee against the dollar are expected to support Tech Mahindra's net profit for Apr-Jun.

 

HDFC Life Insurance Co. detailed its June quarter results post market hours Wednesday. The company reported a four-quarter high net profit due to a strong rise in premium income and investment income. Its net profit for the quarter came in at INR 6.11 billion, up nearly 12% on year.  

 

Bolinjkar of Ventura does not see foreign institutional investors following any particular trend in their activity in the near term. According to him, foreign investors will more likely stick to opportunistic play. On Tuesday, foreign institutional investors remained net sellers, while domestic investors continued supporting the market. Foreign investors were sellers for the past two sessions and offloaded equity shares worth INR 7.4 billion Tuesday. Domestic investors net bought shares worth INR 29.3 billion.  End

 

US$1 = INR 96.2250

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

 

Edited by Avishek Dutta

 

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