WEEKLY REPORT
The Indian equity benchmarks ended marginally lower for the week, snapping a four-week winning streak, as renewed geopolitical tensions in the Middle East and uncertainty surrounding global trade developments kept investors cautious. However, sustained buying by foreign and domestic institutional investors, steady progress in the southwest monsoon and the onset of the June quarter earnings season helped limit the downside and supported a recovery in the latter half of the week.
For the week, the BSE Sensex shed 194.52 points, or 0.25%, to end at 77,569.39, while the Nifty 50 declined 63.95 points, or 0.26%, to close at 24,206.90.
The Nifty Midcap 100 index advanced 1.3 percent during the week, scaling a fresh record high amid sustained buying in select heavyweight stocks. Kalyan Jewellers India, Info Edge India, Swiggy and One 97 Communications (Paytm) emerged as the top contributors to the rally. On the other hand, Page Industries, Cochin Shipyard, ICICI Prudential Asset Management Company, Suzlon Energy and Container Corporation of India were among the key laggards.
The Nifty Smallcap 100 index gained 1.2 percent during the week, scaling a fresh record high. PhysicsWallah, Welspun Corp, SignatureGlobal India, Brigade Enterprises, Ather Energy, Mangalore Refinery & Petrochemicals (MRPL) and Firstsource Solutions were among the top contributors to the rally. On the flip side, Ola Electric Mobility, Triveni Turbine and Deepak Fertilisers & Petrochemicals Corporation were among the key laggards.
Foreign Institutional Investors (FIIs) turned net buyers during the week, purchasing equities worth ₹4,669.88 crore after remaining cautious in the previous week. Meanwhile, Domestic Institutional Investors (DIIs) continued to support the market, investing ₹8,275.62 crore in equities, although the pace of buying moderated compared with the previous week.
Sectoral performance was mixed during the week, with realty and consumer-focused sectors leading the gains. The Nifty Realty index emerged as the top performer, surging 5.37 percent, followed by the Nifty Consumer Durables index, which climbed 3.74 percent. The Nifty IT index gained 2.08 percent on optimism surrounding the earnings season, while the Nifty Metal index advanced 0.72 percent. On the downside, the Nifty Media index was the biggest laggard, falling 1.85 percent. The Nifty FMCG index declined 1.57 percent, while the Nifty India Defence and Nifty Healthcare indices slipped 0.93 percent and 0.63 percent, respectively.
ECONOMY
India: Sensex and Nifty fell over 2% on July 8 (India VIX jumped 26%) after Trump declared the Iran ceasefire “over,” but rebounded sharply by July 10 — Sensex up ~695 points, led by IT stocks after TCS posted a 4.6% rise in Q1 net profit to ₹13,349 crore. Separately, fuel curbs were withdrawn and commercial LPG cut ₹183.50/cylinder as West Asia tensions had briefly eased; May IIP grew 5.1% (5-month high), though June manufacturing PMI slipped to 54.2 and services PMI hit a 17-month low of 57.4.
Asia: Markets whipsawed after the US struck Iran (July 7) and Trump called the ceasefire “over” (July 8), triggering an oil spike and a brief Kospi bear-market dip — before a sharp AI-chip-led rebound sent Kospi up 4%+ and Nikkei higher by July 9–10. The week’s biggest deal: SK Hynix’s Nasdaq debut (July 10) raised $26.5bn, the largest-ever IPO by an overseas company, surpassing Alibaba’s 2014 listing.
Europe/Global: Euro area flash inflation eased to 2.8% in June (from 3.2% in May), the first cooling since the ECB’s June rate hike. European markets (Stoxx 600, DAX, CAC, FTSE) dipped on the Iran-ceasefire collapse before recovering by July 9. Brent crude swung from ~$70 to $78/barrel on the renewed US-Iran conflict, then eased back to ~$76 as tensions cooled and talks resumed.
STOCKS IN NEWS
TCS
Shares led a broader IT rally on July 10 that pushed Sensex up 695 points and Nifty up 196 points, after TCS reported Q1 FY27 net profit up 4.6% YoY to ₹13,349 crore on 13.9% revenue growth to ₹72,275 crore, and signalled stronger demand ahead despite ongoing West Asia uncertainty. The board declared an interim dividend of ₹12/share.
Jio Financial Services
Shares tumbled 5.18% on July 8 to settle at ₹230.45, caught in a broad-based selloff after Trump declared the Iran ceasefire “over.” Analysts flagged no company-specific trigger — the fall was largely profit booking and weak sentiment across financial stocks as markets absorbed the geopolitical shock.
Oil marketing companies (IOCL, BPCL, HPCL)
Stayed in focus through the week as crude surged following fresh US strikes on Iran, with Brent jumping from around $70 to $78/barrel; OMC margins came under scrutiny as the renewed conflict revived supply-disruption fears.
Kalyan Jewellers
In focus on July 8 after reporting 38% YoY consolidated revenue growth for Q1 FY27, driven by strong performance across Indian and Middle Eastern markets, with recycled gold making up over 55% of revenue.
Torrent Pharmaceuticals
Fixed July 17 as the record date for JB Chemicals shareholders to receive Torrent Pharma shares under their merger’s exchange ratio, keeping both counters in focus for the week.
JSW Energy
Announced it has commissioned 1,081 MW of renewable capacity since April 2026 — a mix of solar, wind, hybrid and hydro — taking total installed capacity to 14,535 MW.
Premier Energies
In focus after commissioning a 5.6 GW solar module manufacturing facility in Telangana, part of a broader ₹12,500 crore capex plan.
Dr Reddy’s Laboratories
Came under watch after CEO Erez Israeli said the company will miss its FY27 semaglutide production target of 12 million pens, citing API quality-related supply disruptions.
