Highlights
Market extends opening losses
Reliance Retail buys Kelvinator
Zee launches two new hybrid channels
Sensex falls over 550 points, Nifty slips below 25,000-mark
LTIMindtree shares drop by over 1.7% despite decent Q1FY26 results
Rupee rises by 6 paise to 86.06 against USD
RIL shares inch up by 0.57%
GNG Electronics sets price band for its IPO
Clean Science and Technology shares fall by about 7%
Axis Bank shares slump over 7%
Wipro shares rise 4% after Q1 results
Market extends opening losses
Axis Bank shares fall 4% post Q1
Market opens flat with a negative bias
Nifty outlook for today
FIIs remain net sellers for second day on July 17
Indian markets lag global peers in July
From Axis Bank to Wipro to Indian Hotels: Top stocks to watch today
RIL, JSW Steel, Hindustan Zinc, others to announce Q1 today
U.S. stocks rally on strong earnings, macro data
Asian markets trade higher on firm cues from Wall Street
GIFT Nifty Futures Signal Positive Opening for Sensex and Nifty
Can Sensex, Nifty rebound amid rangebound trade?
Stock Market Live: Sensex sinks 650 points, Nifty below 25,000-mark; Axis Bank, BEL, Airtel lead fall
ADVERTISEMENT
Market extends opening losses
Equity markets continued to drift lower for the second straight session on Thursday, as concerns over macroeconomic stability weighed on investor sentiment. The Sensex declined as much as 650 points, while the Nifty50 also slipped below the crucial 25,000 level.
“The major reasons for the fall are driven by a combination of weak earnings, banking and IT sector drag, foreign investor selling, technical breakdowns, and broader macro uncertainties. Maintaining a cautious stance, with attention to upcoming earnings announcements and developments in trade policy, is prudent in the current environment,” said Khushi Mistry, Research Analyst at Bonanza.
Reliance Retail buys Kelvinator
In a strategic move, Reliance Retail, a subsidiary of Reliance Industries, on Friday announced the acquisition of consumer durables maker Kelvinator as it looks to "significantly amplify its leadership" in the country’s fast-growing consumer durables sector. Reliance Retail is India’s largest organised retail chain with 19,340 stores.
Zee launches two new hybrid channels
Zee Entertainment Enterprises Ltd. (ZEEL) has announced the launch of two new hybrid television channels—Zee Power in Karnataka and Zee BanglaSonar in West Bengal—as part of a broader effort to reposition itself as a content-tech network. Both channels are set to go on air in August 2025, accompanied by state-wide multimedia campaigns.
Sensex falls over 550 points, Nifty slips below 25,000-mark
The Sensex fell over 550 points in intraday trade on Friday, while the Nifty 50 slipped below the 25,000-mark, reflecting weak investor sentiment across sectors amid global cues and profit booking
LTIMindtree shares drop by over 1.7% despite decent Q1FY26 results
The share price of LTIMindtree Ltd dropped by over 1.7% today, trading around ₹5,106, even as the IT services company reported a decent set of Q1FY26 numbers broadly in line with Street expectations.
Rupee rises by 6 paise to 86.06 against USD
The rupee rises by 6 paise to 86.06 against the US dollar in early trade today, in the wake of subdued dollar strength and a drop in crude oil prices.
RIL shares inch up by 0.57%
Reliance Industries Ltd, which will reveal its Q1 FY26 results today, saw its share price inch up by 0.57% in early morning trade.
GNG Electronics sets price band for its IPO
GNG Electronics Ltd., for its initial public offering, has set the price band of shares worth ₹460 crore, which will open to the public next week. For bidding, the shares will come in the price band of ₹225-237 apiece.
Clean Science and Technology shares fall by about 7%
Clean Science and Technology shares fell by about 7% today over its Q1 FY26 results.
For its Q1 results, the company's revenue rose by 8% compared to the same quarter last year, while its EBITDA rose by 5% on a YoY basis. However, the company's margins for the same quarter narrowed by 41.7%, while its net profit increased by 6%.
Axis Bank shares slump over 7%
Axis Bank shares dropped over 7% in early trade today after the private lender reported a weaker-than-expected performance for the June quarter. A sharp rise in provisions and deterioration in asset quality weighed on investor sentiment. In the overnight trade, U.K.-listed shares of private lender Axis Bank Ltd., also known as Global Depository Receipts (GDR), fell nearly 5% as investor reacted negatively to the lender's quarterly results.
Wipro shares rise 4% after Q1 results
Wipro’s share price climbed 4% in early trade on Friday, following the release of its Q1FY26 results after market hours on Thursday. The company also announced a dividend, adding to the positive sentiment.
The Bengaluru-based IT firm posted a consolidated net profit of ₹3,336 crore, up 10% year-on-year, though down 7% sequentially.
In terms of constant currency, revenue stood at $2,590 million, declining 2% quarter-on-quarter and 2.3% year-on-year, but still exceeding market expectations. Revenue from the IT services segment came in at $2,587.4 million, registering a 0.3% sequential decline and a 1.5% drop compared to the previous year.
Market extends opening losses
The BSE Sensex dropped as much as 200 points, or 0.24%, to 82,058, and the Nifty50 was at 25,076, down 35 points, or 0.14%.
Axis Bank shares fall 4% post Q1
Shares of Axis Bank dropped over 4% in opening trade today after the private lender released its June quarter earnings report. The bank posted a 3.8% decline in standalone net profit to ₹5,806.1 crore, while net interest income (NII) increased marginally by 0.8% to ₹13,559.8 crore.
Market opens flat with a negative bias
Indian benchmark indices opened slightly lower on Friday, undermining firm global cues amid cautious investor sentiment. The Sensex and Nifty saw a muted start as traders weighed earnings reports and lingering concerns around global economic trends.
While firm trading in Asian markets offered some support, uncertainty around the U.S.-India trade outlook and stock-specific reactions to quarterly results kept broader sentiment subdued.
Nifty outlook for today
Slippages extended to the 25,120–25,090 region - previously identified as a key pivot area. The market's pause around this zone raises the possibility of a rebound today, potentially toward 25,330 or even 25,420, said Anand James, Chief Market Strategist, Geojit Investments.
"For now, we await a decisive break below 24,920 to consider directional downside trades. Meanwhile, intermediate resistance levels on the upside are expected at 25,150, 25,188, and 25,265," he said.
FIIs remain net sellers for second day on July 17
Foreign Institutional Investors (FIIs) remained net sellers for the second consecutive session on July 17, offloading equities worth ₹3,694 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying spree for the ninth straight session, purchasing equities worth ₹2,820 crore, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking Private Limited.
"Given the current environment of heightened volatility and mixed signals, traders are advised to adopt a cautious "sell-on-rise" approach, especially when using leverage. Booking partial profits during rallies and implementing tight trailing stop-losses is recommended to manage risk. Fresh long positions should only be considered if the Nifty sustains above the 25,378 level. While the broader market undertone remains cautiously bullish, it is essential to closely monitor key technical levels and evolving global cues," he said.
Indian markets lag global peers in July
In July so far, Indian markets have been underperforming most global peers, reflecting subdued investor sentiment and cautious positioning ahead of key earnings and trade deal uncertainties.
"In July, so far, India has been underperforming most markets, with a dip of 1.6% in Nifty. A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year so far. They were sellers in the first three months," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
"Along with selling in the cash market FIIs have been increasing short positions in the derivatives market too, which reflect a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity," he added.
"A significant feature of economic activity in India during the recent years has been the resilience of luxury consumption and weakness in mass consumption. Early indications from Q1 results -good results from hotels industry- indicate continuation of this trend. Niche luxury segments across sectors are likely to do well."
From Axis Bank to Wipro to Indian Hotels: Top stocks to watch today
Investors will be closely tracking shares of Axis Bank, Wipro, LTIMindtree, Jio Financial Services, Tata Communications, Nuvoco Vistas Corporation, Shoppers Stop, Sunteck Realty, Indian Hotels, and many others today following the release of their Q1 earnings.
RIL, JSW Steel, Hindustan Zinc, others to announce Q1 today
Reliance Industries, JSW Steel, Hindustan Zinc, and Indian Overseas Bank, L&T Finance, Bandhan Bank, Aarti Drugs, Atul, IndiaMART InterMESH, Mahindra EPC Irrigation, Mastek, Mangalore Refinery and Petrochemicals, and Indosolar are set to release their June quarter results today.
Adding to it, HDFC Bank, ICICI Bank, Yes Bank, Union Bank of India, RBL Bank, AU Small Finance Bank, Can Fin Homes, Central Bank of India, EPACK Durable, India Cements, JK Cement, Punjab & Sind Bank, Rossari Biotech, and Reliance Power will announce their Q1 results on July 19.
U.S. stocks rally on strong earnings, macro data
Wall Street ended higher on Thursday on the back of robust corporate earnings and encouraging economic data. The S&P 500 rose 0.54% to close at a record high, while the tech-heavy Nasdaq Composite advanced 0.75%, marking its tenth record close of 2025. The Dow Jones Industrial Average also gained 0.52%.
Investor sentiment was lifted by upbeat weekly jobless claims and June retail sales data, both indicating resilience in the U.S. economy. Among individual movers, PepsiCo shares jumped over 7% after the company reported better-than-expected earnings, while United Airlines also rallied 3% following a strong June-quarter earnings beat.