Benchmarks trade sideways; European mrkt decline

The domestic benchmark indices pared all their early losses and traded near the flat line in afternoon trade, as investors looked past the escalation in the US-Iran conflict and shifted their focus to stock-specific developments and the ongoing first-quarter earnings season.

Investor sentiment improved after a cautious start, with market participants selectively accumulating stocks amid corporate earnings announcements.

Going ahead, investors will closely monitor further developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for cues on the market's near-term direction.

FMCG, metal and realty shares declined while IT and media shares and consumer durables stocks jumped.

 

At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 24.26 points or 0.03% to 77,596.47. The Nifty 50 index fell 9.60 points or 0.05% to 24,195.40.

In the broader market, the BSE 150 MidCap Index fell 0.20% and the BSE 250 SmallCap Index rose 0.07%.

The market breadth was positive. On the BSE, 2,129 shares rose and 2,115 shares fell. A total of 217 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, surged 9.28% to 13.39.

In the commodities market, Brent crude for September 2026 settlement added $2.81 or 3.70% to $78.82 a barrel.

Gainers & Losers:

Tata Consultancy Services (TCS) (up 6.08%), HCL Technologies (up 5.78%), Tech Mahindra (up 4.60%), Infosys (up 4.17%) and Wipro (up 2.23%) were the major Nifty50 gainers.

Tata Steel (down 2.01%), Indigo (down 1.99%), Grasim Industries (down 1.78%), Nestle India (down 1.66%) and Tata Consumer Products (down 1.54%) were the major Nifty50 losers.

Stocks in Spotlight:

LTM (formerly LTIMindtree) rose 1.01% after it has reported a 5.86% quarter-on-quarter (QoQ) increase in consolidated net profit to Rs 1,468.6 crore on a 2.80% rise in revenue from operations to Rs 11,608 crore in Q1 FY27 over Q4 FY26.

NMDC declined 1.54% after the company reduced the prices of Baila Lump and Baila Fines with effect from 10 July 2026. The state-owned miner cut the price of Baila Lump (65.5%, 10-40 mm) by Rs 250 per tonne to Rs 5,450 per tonne in July26 from Rs 5,700 per tonne in June26. It also reduced the price of Baila Fines (64%, -10 mm) by Rs 150 per tonne to Rs 4,700 per tonne from Rs 4,850 per tonne.

Fino Payments Banks rallied 9.75% after the small finance banks average total deposits jumped 11% to Rs 2,755 crore in June 2026 compared with Rs 2477 crore in June 2025.

Just Dial hit upper circuit of 20% after the company reported 66.2% jump in net profit to Rs 166.3 crore in Q1 FY27 from Rs 100 crore in Q4 FY26. Operating revenue for the period under review was Rs 327.5 crore, up 9.9% YoY.

L&T Finance jumped 1.45% after the NBFC reported a 28.72% year-on-year (YoY) increase in consolidated net profit to Rs 902.47 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 701.10 crore posted in Q1 FY26. Total revenue from operations jumped 22.38% YoY to Rs 5,212.92 crore in Q1 FY27.

Avantel rallied 3.08% after the company reported a 67.39% year-on-year increase in consolidated net profit to Rs 5.39 crore in Q1 FY27, compared with Rs 3.22 crore in Q1 FY26. Revenue from operations rose 35.65% year-on-year to Rs 70.42 crore in Q1 FY27.

Global Markets:

European and Asian markets traded lower on Monday as investors remained cautious amid renewed geopolitical tensions in the Middle East.

Investor sentiment nosedived after Iran and the United States exchanged airstrikes over the weekend. Tehran claimed it had targeted U.S. military facilities across multiple Gulf countries and announced the closure of the Strait of Hormuz.

However, U.S. President Donald Trump rejected the claim on Sunday, stating that the strategic waterway remained open to commercial shipping.

In South Korea, shares of SK Hynix fell 5% after the chipmaker's stock had surged 13% during its Nasdaq debut, prompting investors to book profits.

In the United States, shares on Wall Street ended higher on Friday. The Dow Jones Industrial Average gained 0.29% to close at 52,637.01, the S&P 500 rose 0.42% to 7,575.39, and the Nasdaq Composite advanced 0.29% to finish at 26,281.61.

Investors are also gearing up for a busy U.S. earnings week, with several major financial institutions, including JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and Wells Fargo, scheduled to report quarterly results.

Earnings from Netflix, Johnson & Johnson and UnitedHealth are also expected to be closely watched for clues on corporate performance and the broader economic outlook.

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