More Stories

Informist, Thursday, Jul. 16, 2026

By Gopika Balasubramanium

MUMBAI – Benchmark equity indices are expected to open flat and remain within a narrow range Thursday, with a focus on June-quarter earnings and developments in West Asia. The US launched a fresh round of strikes in the southern part of Iran, attacking the country for the fifth straight day. The crude oil prices have remained around $85 per barrel since Tuesday.

The US military completed a second wave of strikes on Iran on Wednesday that were aimed at degrading its ability to target vessels in the Strait of Hormuz, CNN reported. President Donald Trump is weighing options to expand the US military operation, sources told CNN.

In Asia, most indices fell amid a sell-off in semiconductor and artificial intelligence-related stocks. South Korea's Kospi fell 7%. The Bank of Korea raised the interest rate by 25 basis points to 2.75% in the first hike in over three years. US indices ended higher as a better-than-expected US Producer Price Index lifted sentiment and eased concerns about a Federal Reserve rate hike. 

The Nifty 50 is expected to open flat on Thursday, likely between 24050 and 24085 points, Ashish Sherigar, senior technical and derivatives analyst at NVS Brokerage, said. The intraday support is at 24000-23800 points and the resistance at 24200-24250 points, he added. 

At 0722 IST, the July contract of GIFT NIFTY was at 24092, down 11 points or 0.1%. This was 14 points higher than the Nifty 50's close level on Wednesday. The 50-stock index settled at 24078.50 points, up 0.1%. Over the last several sessions, the index has been consolidating between 23800 and 24200 points broadly. The BSE Sensex closed at 77185.43 points, up by 130.49 points or 0.2%. 

While foreign investors' sentiment towards the Indian stock market has improved recently, the renewed escalation between Iran and the US has limited their buying since Monday. They turned net sellers in four out of five trading sessions since last Friday. They net sold shares worth about INR 45 billion since the start of this week. Domestic investors continued to be bullish on the Indian market, with them net buying over INR 7 billion on Wednesday. 

Traders are expected to react to HDFC Life Insurance Co.'s June-quarter results. The life insurer's net profit rose to a four-quarter high of INR 6.11 billion in the June quarter. The premium income rose by over 14% on year to INR 165.48 billion. The company told analysts that it will focus on growth rather than margin expansion in the current financial year as it seeks to stabilise market share. Systematix Shares and Stocks (India) retained its 'buy' recommendation on the insurer's stock but cut the target price to INR 730 from INR 745. The stock closed at 568.75 on the National Stock Exchange. up 2.4%. 

Another life insurance company, ICICI Lombard General Life Insurance Co., also announced its earnings late Wednesday. The company's net profit fell 46% on year to INR 4.03 billion, primarily due to a rise in claims paid. For the quarter, the insurer incurred two large losses under the fire segment worth INR 630 million, impacting the combined ratio by 1%. The company reported a 16% on-year rise in premium income. The stock ended at INR 1,814.60 on the NSE Wednesday, up 1.5%

Traders will focus on the earnings of information technology companies Wipro and Tech Mahindra later in the day. While Tech Mahindra's consolidated net profit for Apr-Jun is expected to rise around 18% on quarter, its revenue is expected to rise 2.5% sequentially. Meanwhile, 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 and acquisition-related charges. Its net sales are likely to rise slightly due to the depreciation of the rupee against the dollar. End

US$1 = INR 96.25

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

Edited by Saji George Titus

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.