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Informist, Friday, Jul. 17, 2026

 

By Arundathi A R 

 

MUMBAI – Analysts maintained a positive outlook for the domestic equity market next week after the benchmark indices posted strong gains on Friday despite several negative triggers. Market participants will focus largely on the June-quarter earnings of Reliance Industries and major private-sector lenders HDFC Bank, Axis Bank, ICICI Bank, and Kotak Mahindra Bank.

 

"On Monday, sustaining above 24330 spot will be a positive development that could lead it towards 24500-24550 spot levels in the near term," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "Conversely, a fall below 24200 spot level could push it back into a fresh consolidation range."

 

Friday, the Nifty 50 settled at 24334.30, up 261.55 points or 1.1% from the previous close. The BSE Sensex ended at 78151.45, up 964.58 points or 1.3% from Thursday. Domestic indices ended the week with marginal gains.

 

"Nifty (50)'s ability to stay in green despite war jitters and higher crude is driven by three mutually reinforcing pillars of resilient domestic macro (6.5–7% growth, reasonable inflation, political stability); strong and broad-based domestic flows (SIPs, insurance, pensions) that cushion FPI (foreign portfolio investment) outflows; and healthy corporate earnings with improved energy efficiency and better passthrough of costs," Manoranjan Sharma, chief economist at Infomerics Ratings, said.

 

Reliance Industries will detail its June quarter results later in the day. The company is expected to overcome cost and logistical challenges arising from the West Asian crisis. It is likely to post a net profit of INR 190 billion for the quarter, up nearly 5% on year. Its consolidated revenue for the quarter is estimated at INR 3.15 trillion, up 29% on year. On a trailing quarter basis, the revenue is likely to rise nearly 7%.

 

HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and Axis Bank will announce their results on Saturday. HDFC Bank is likely to report solid growth in net interest income for the June quarter, supported by healthy growth in loans and deposits. Its net profit for the quarter is estimated at INR 197 billion, up 8% on year, while net interest income is seen at INR 342 billion, up 9% on year.

 

Kotak Mahindra is expected to post a net profit of INR 40.49 billion, up over 23% on year. Its net interest income is estimated to rise nearly 11% on year to INR 80.22 billion. Axis Bank is expected to report a robust set of earnings for Apr-Jun. The lender is likely to post a 22% on-year rise in net profit to INR 70.65 billion for the quarter. Its net interest income is expected to rise nearly 10% on year to INR 148.75 billion for the reporting quarter.

 

According to Sharma of Infomerics, near-term information technology earnings are likely to provide selective rather than broad-based support to the market. "On the positive side, a multi-year AI (artificial intelligence) and digital transformation cycle, strong order books in cloud, data and automation, and relatively clean balance sheets drive stable revenue growth and margins, which helps to sustain index levels given IT's (information technology's) weight," he said.

 

Thursday, foreign institutional investors net sold shares worth INR 42.06 billion, while domestic investors net bought shares worth INR 29.86 billion. Foreign investors remained net sellers for the past four sessions. "The base case is a gradual rather than abrupt FII rerisking of India, with outflows first normalising and then turning modestly positive as global conditions improve," Sharma said.  End

 

US$1 = INR 96.2800

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

 

Edited by Saji George Titus

 

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