More Stories

Informist, Tuesday, Jul. 28, 2026

 

By Gopika Balasubramanium

 

MUMBAI – India's benchmark indices are expected to remain rangebound in the near term, with stock-specific moves likely to dominate as the June-quarter earnings season gathers pace. Most analysts believe earnings have so far been slightly better than initially expected. Traders will also monitor the monetary policy decisions from major central banks this week. Easing tensions between the US and Iran, along with the resultant decline in crude oil prices, have also lent support to market sentiment. 

 

On Tuesday, the benchmark Nifty 50 index closed at 23985.35 points, down 10.60 points. The 50-stock index hovered near the 24000 points for most of the session, moving within an 87-point band. In the futures market, traders were most active in contracts between 23900-24000 strike prices expiring Tuesday on both the call and put side. Traders went short on the call side, while they went long on the put side as they sold far out-of-the-money contracts, indicating that the 50-stock index would be rangebound in the short term.  

 

"On the higher end, 24050 remained a strong resistance, while on the lower end, support was seen around 23920," Rupak De, senior technical analyst at LKP Securities, said in a note. "A decisive move above 24050 in the near term might provide the required strength for the index to move towards 24500 in the short term. On the lower end, support is placed at 23800," he said.

 

The strong June-quarter results, evident from better-than-expected results in several sectors, should provide greater comfort to the market's earnings outlook for 2026-27 (Apr-Mar), Kotak Securities said. The brokerage expects fairly robust growth in cumulative net profit of the Nifty 50 companies due to a low base in some sectors. Kotak expects aggregate net profit of Nifty 50 companies to grow 18% in FY27 and 14% in FY28.

 

The sharp increase in industry credit across sectors suggests a broad-based pick-up in private sector investment, Kotak said. "We expect the momentum to continue as the private sector invests aggressively in value-added manufacturing in chemicals, electricity and electronics chains, encouraged by supportive government policies," the brokerage said. 

 

Traders will track earnings of five Nifty 50 majors on Wednesday. Larsen & Toubro will declare its June-quarter earnings later in the day. L&T is expected to post underwhelming results in the June quarter due to its significant exposure to the war-hit West Asia region. While both top line and bottom line are seen registering 6-8% growth on a year-on-year basis, the sequential performance is likely to be disappointing. The net profit is expected to fall 27% and its sales are seen falling 17% sequentially. The stock ended 0.7% higher at INR 3,832.

 

Large-cap companies such as Adani Enterprises, Adani Ports and Special Economic Zone, Asian Paints, and Eicher Motors will also announce their results on Wednesday. Further, traders will track monetary policy meeting outcomes of the US Federal Reserve, Bank of England, and Bank of Japan.  End

 

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.