MUMBAI– Indian equity benchmarks ended the week with gains of about 1 percent, snapping a six-week losing streak despite geopolitical uncertainties.
Investor attention is now on the upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska, with hopes it could lead to a Russia–Ukraine ceasefire and the removal of the additional 25 percent tariff on Indian goods.
Sector performance was mixed. The Nifty IT index led weekly gains, while Nifty Metal and Nifty FMCG closed lower. Broader markets underperformed, with the Nifty Midcap and Nifty Smallcap indices finishing in the red.
With June-quarter (Q1 FY26) earnings season concluded, revenue moderation kept average year-on-year net profit growth for Nifty 50 companies — excluding financials and oil and gas — in the mid-single digits. Overall, Q1 results were in line with market expectations, though the anticipated revival in urban demand has yet to fully materialize.
“Healthcare and PSU banks outperformed on the back of strong earnings and stable asset quality,” said Vinod Nair, Head of Research at Geojit Financial Services. He noted that benign domestic inflation, now at an eight-year low, is boosting hopes for a revival in discretionary spending. He also pointed to S&P’s upgrade of India’s sovereign credit rating to BBB as a factor expected to improve investor sentiment and support long-term growth.
Nair added that global cues remain positive amid softer U.S. inflation data and a decline in the U.S. 10-year bond yield, bolstering expectations for a Federal Reserve rate cut in September.
Technically, the Nifty is expected to trade between 24,350 and 24,750, with a breakout above 24,750 potentially extending gains toward the 25,000 mark.
On Thursday, foreign institutional investors (FIIs) were net sellers of equities worth Rs 1,926 crore, buying Rs 13,646 crore in stocks while selling Rs 15,572 crore. Domestic institutional investors (DIIs) were net buyers of Rs 3,895 crore, with gross purchases of Rs 13,144 crore and sales of Rs 9,248 crore. (Source: IANS)
