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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 July’26 from Rs 5,700 per tonne in June’26. 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 bank’s 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.
IT, pharma and realty shares in advanced while PSU bank, media and auto shares declined.
At 13:25 ST, the barometer index, the S&P BSE Sensex jumped 383.61 points or 0.49% to 77,886.45. The Nifty 50 index rose 133.10 points or 0.54% to 24,308.65.
In the broader market, the BSE 150 MidCap Index fell 0.19% and the BSE 250 SmallCap Index rose 0.10%.
The market breadth was positive. On the BSE, 2,138 shares rose and 1,986 shares fell. A total of 208 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.29% to 11.88.
Economy
India's services sector remained in expansion mode in June, although growth lost momentum amid challenging market conditions and softer client demand. The seasonally adjusted HSBC India Services PMI Business Activity Index eased to 57.4 in June from 59.8 in May, marking the weakest pace of expansion in 17 months, while remaining well above the 50-point threshold that separates growth from contraction. Hiring activity was largely stagnant, business confidence weakened, and cost pressures eased, while new export orders grew at the fastest pace in three months.
HCL Technologies (up 6.64%), Tech Mahindra (up 3.36%), Max Healthcare Insitute (up 2.77%) and Bajaj Finserv (up 2.53%) were the major Nifty50 gainers.
State Bank of India (SBI) (down 1.39%), Axis Bank (down 0.72%), Kotak Mahindra Bank (down 0.68%) and Indigo (Interglobe Aviation) (down 0.63%) were the major Nifty50 losers.
HCL Technologies rallied 6.64% after the company signed an agreement with a Europe headquartered, Fortune Global 50 Firm to transform their global digital workplace and enterprise networks using Artificial Intelligence (AI).
Marathon Nextgen Realty advanced 0.04%. The company announced that its subsidiary Sunset Spaces has executed a development agreement for the redevelopment of the society located at Versova, Mumbai.
Krystal Integrated Services rose 0.75%. The company has secured a work order from the Director of Backward Classes (BC) Welfare Department, Andhra Pradesh, for providing cleaning and sanitation services across government hostels.
Bluspring Enterprises jumped 4.14% after the company’s subsidiary, STEAG Energy Services (India) has secured a comprehensive operations and maintenance contract from Vedanta Aluminium Metal for a captive power plant. The contract covers a 1,215 MW (9x135 MW) captive power plant at VAML and has an estimated value of Rs 1,437.17 crore.
Central Bank of India rose 0.31%. The company reported a 28.77% year-on-year (YoY) increase in its global gross advances to Rs 3,54,895 crore as of 30 June 2026, compared with Rs 2,75,595 crore as of 30 June 2025.
PC Jeweller surged 4.77% after the company reported an approximately 21% year-on-year increase in consolidated revenue for the quarter ended 30 June 2026.
Mahindra & Mahindra Financial Services added 2.47% after the company estimated the overall disbursement at approximately Rs 15,560 crore, YoY growth of around 21% (excluding finance lease).
Bajaj Finance gained 1.46% after its new loans booked rose 20% year-on-year to 1.61 crore in Q1 FY27, compared with 1.35 crore in the corresponding quarter last year.
European and Asian market advanced on Friday after a lukewarm U.S. jobs report poured cold water on the prospect of an imminent rate hike from the Federal Reserve and regional activity gauges pointed to an economic expansion during June.
Purchasing Managers' Index (PMI) data released on Friday indicated increased activity across the region.
Japan's services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. The S&P Global final Japan Services Purchasing Managers' Index (PMI) rose to 52.2 in June from 50.0 in May, signalling a renewed rise in business activity.
Meanwhile, China's services activity expanded at a slightly slower pace in June as growth in new business eased, though overseas demand rose at the fastest rate in 20 months, a private-sector survey showed on Friday. The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, staying above the 50-mark that separates expansion from contraction.
Overnight on Wall Street, the Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the Nasdaq Composite languished as semiconductors struggled once again.
The US economy added 57,000 jobs in June 2026, significantly below both the downwardly revised 129,000 recorded in May and market expectations of 110,000. It marks the weakest monthly job growth in four months, ending a streak of three consecutive months of stronger-than-expected gains.
The 30-stock average added 594.83 points, or 1.14%, for a record close of 52,900.07. The index hit a new all-time intraday high of 52,903.85. The S&P 500 rose less than 1 point to end at 7,483.24, while the Nasdaq dropped 0.8% to 25,832.67.
InterGlobe Aviation announced that CRISIL Ratings vide its letter dated 29 June 2026, has continued its ratings on the bank facilities of the Company on ‘Watch with Developing Implications', as detailed below:
Long Term Rating - Crisil AA-/Watch Developing (Continues on 'Rating Watch with Developing Implications')
Short Term Rating - Crisil A1+/Watch Developing (Continues on 'Rating Watch with Developing Implications')
Sukhjit Singh Pasricha, Chief Human Resources Officer has resigned and will be relieved from the service of the Company effective close of business hours on 19 July 2026.
Brent crude fell to around $72.5 a barrel, its lowest level since before the Iran conflict, as easing concerns over Middle East supply disruptions weighed on prices. The benchmark has erased most of the gains recorded during the conflict.
The decline followed improving crude flows through the Strait of Hormuz after a preliminary U.S.-Iran agreement and the resumption of tanker traffic. Higher crude exports from the Middle East and ample near-term supplies have also softened the physical oil market.
Lower crude prices are generally positive for airlines because aviation turbine fuel (ATF), which is linked to global oil prices, is one of their largest operating expenses. A sustained decline in crude prices can help reduce fuel costs and support profit margins.
The gains came after Brent crude dropped nearly 5% to around $83 per barrel as investors welcomed signs of easing tensions in the Middle East and the potential reopening of the Strait of Hormuz, a key global oil transit route.
Market sentiment improved after US President Donald Trump announced that a peace deal with Iran had been completed. The agreement is expected to lead to the reopening of the Strait of Hormuz, through which nearly one-fifth of global oil shipments pass. Reports indicate that the deal could be formally signed later this week.
Lower crude prices are generally positive for airlines as aviation turbine fuel (ATF) is one of their largest operating expenses. A decline in oil prices can help reduce fuel costs and support profit margins, particularly for carriers with significant domestic and international operations.
Travel and tourism-related stocks also witnessed buying interest. Investors expect improved stability in global energy markets and lower fuel costs to support demand and profitability across the sector.
Brent crude rose 4.54% to $97.32 per barrel after reports indicated that Israel had struck military targets in Iran following missile attacks by the Islamic Republic.
The increase in crude oil prices weighed on investor sentiment toward airline stocks, as aviation turbine fuel is one of the largest operating costs for carriers. Higher fuel prices can increase operating expenses and potentially impact profitability.
The company has suspended operations to Langkawi, Krabi, Ho Chi Minh, Hong Kong and Shanghai starting 1 July 2026, and Siem Reap starting 3 July 2026, until 30 September 2026.
“IndiGo will resume bookings for all the impacted services starting 1 October 2026; however, should the environment become favourable, IndiGo stands prepared to reinstate these services earlier than scheduled, in appropriate lead time,” the company said in a statement.
The airline further said that it has managed to retain majority of its international operations, i.e. over 1,800 weekly international flights, despite this realignment.
These measured changes are designed to align capacity with current market conditions and demand trends, while ensuring the airline maintains reliability and network integrity across its global destinations.
The airline will continue to monitor the situation given the elevated operating costs and continued airspace restrictions.
InterGlobe Aviation (IndiGo) is among the fastest-growing low-cost carriers in the world. It had a fleet of 441 aircraft and provided scheduled services to 97 domestic and 45 international destinations as of 31st March 2026.
The company had reported a consolidated net loss of Rs 2,536.9 crore in Q4 FY26, compared with a net profit of Rs 3,067.5 crore posted in Q4 FY25. Revenue from operations increased 1.29% to Rs 22,438.4 crore in Q4 March 2026.
The scrip rose 0.26% to currently trade at Rs 4514.70 on the BSE.