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Informist, Tuesday, Jul. 28, 2026

By Arundathi A R

MUMBAI – Domestic stock indices are likely to move in a range Tuesday after clocking significant gains in the previous session with an ease in crude oil prices. Crude oil prices dropped remarkably to a low of $87 a barrel following reports of the US pausing attacks on Iran. Analysts see the market witnessing volatility due to the expiry of Nifty 50's weekly derivatives contracts. Investors are expected to keenly track Larsen & Toubro and Hindustan Unilever as they are scheduled to announce their June quarter earnings Tuesday.

In the latest development from West Asia, US President Donald Trump said Washington was having "very friendly talks" with Tehran but suggested he was not prepared for prolonged negotiations. Israeli Prime Minister Benjamin Netanyahu arrived in the US and was expected to meet Trump. Iran said the US was struggling to find a way out of the war, according to a report by Al Jazeera.

The September futures contract of Brent crude oil has fallen to a low of $87 a barrel, which lifted market sentiment Monday. However, this was still over 19% higher than its pre-war level. Analysts are likely to closely watch oil price movements as it is showing high volatility in regard to the changing geopolitical circumstances.

At 0807 IST, the July contract of GIFT Nifty was marginally lower from its previous close at 23960, while the August contract was at 239997.50. This indicated a rangebound to negative movement for indices Tuesday. "As long as Nifty sustains above this level (23856 points), the index is likely to remain on an upward trajectory and could test the 24500 mark in the coming sessions," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "Hence, a buy-on-dips strategy remains the preferred approach."

Shares of Bharat Electronics and Coal India will be in focus after their June quarter results announcement Monday. Bharat Electronics reported an over 8% on-year rise in its net profit for the June quarter at INR 10.48 billion. This was almost in line with analysts' view of INR 10.36 billion. Its net sales for the quarter rose 25% on year to INR 55.33 billion, higher than analysts' consensus estimate of INR 50.36 billion.

Coal India reported a flat-on-year growth in its net profit for the reporting quarter. However, it surpassed the Street's view of the metric. The company's consolidated net profit grew 0.6% on year to INR 88.52 billion, above analysts' view of INR 86.88 billion. Its consolidated revenues from operations grew almost 8% on year to INR 462.55 billion.

L&T is expected to post the lowest year-on-year growth in net profit as well as revenue in six June quarters. Its consolidated net profit is expected at INR 38.50 billion, up 6.4% on year. The company's consolidated revenue from operations for the quarter is expected to be INR 685.64 billion, up 7.7% on year.

Hindustan Unilever is expected to report a year-on-year fall in net profit for the June quarter. The company's net profit for the June quarter is seen at INR 27.82 billion, down nearly 3% on year. Its revenue is seen at INR 171.77 billion, up around 8% on year.

Foreign investment flows will also remain a key driver of market direction. On Monday, foreign investors were net sellers of shares worth INR 16.88 billion, while domestic investors were net buyers of shares worth INR 23.29 billion.

Barring the Nasdaq Composite, the other two major US indices settled higher Monday. The indices ended mixed as the market awaits earnings from major companies such as Apple, Amazon, Meta Platforms, and Microsoft, which are due this week. Among Asian equity indices, Hang Seng index was the only gainer in early trade, up marginally. South Korea's KOSPI shed nearly 10%.  End

US$1 = INR 95.91

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

Edited by Akul Nishant Akhoury

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