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Published on 13-07-2026 10:07 am

BANK NIFTY

* The Banking Index extended its gains for a second consecutive session, sustaining above the 20-day DEMA and reinforcing the prevailing bullish bias.

* With a gap-up opening, the index maintained steady upward momentum, forming a sequence of higher highs and higher lows throughout the session.

* All constituents closed in positive territory, with Union Bank and Canara Bank leading the advance.

* Immediate resistance is seen near 58,800, while 57,000 remains crucial support.

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Published on 13-07-2026 10:06 am

NIFTY

* Nifty witnessed a strong rebound on Friday, with benchmark indices gaining nearly a percent amid supportive global cues and encouraging earnings from the IT pack.

* A sustained move above the 24,150 zone could pave the way for an extension towards the 24,400–24,600 region.

* On the downside, the 24,000 mark is expected to provide immediate support, followed by the 23,800 zone.

* While the broader trend has turned constructive again, we continue to advocate a stock-specific approach with a "buy-on-dips" strategy, favouring relatively stronger sectors such as banking, pharma, realty and pick selectively from the others.

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Published on 13-07-2026 09:53 am

Global News

• Supply Risks Lift Oil Despite Inflation-Driven Demand Concerns: Oil prices edged lower on Friday but remained on course for a strong weekly gain, with Brent up around 6% and WTI about 5%, as renewed military strikes between the U.S. and Iran kept geopolitical tensions and supply disruption fears elevated. The conflict has delayed the full reopening of the Strait of Hormuz, a key route for nearly 20% of global oil and gas shipments, supporting crude prices. However, gains were capped by concerns that rising inflation could weaken global fuel demand, alongside strong U.S. labor market data and higher producer inflation in China. Market sentiment also found some relief after the U.S. avoided targeting Iran's energy infrastructure and President Donald Trump indicated that a return to a full-scale conflict is unlikely.

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Published on 13-07-2026 09:53 am

Economic News

• India's Forex Reserves Rebound by $7.26 Billion to $674.19 Billion, Driven by Higher FX Assets and Gold: India's forex reserves rose by $7.26 billion to $674.19 billion in the week ended July 3, reversing the previous week's $5.65 billion decline, according to RBI data. The increase was led by a $4.51 billion rise in foreign currency assets to $545.58 billion and a $2.67 billion jump in gold reserves to $105.21 billion, while SDRs and the IMF reserve position also edged higher. Despite the recovery, reserves remain below the record high of $728.49 billion reached in late February, after RBI interventions to support the rupee amid Middle East-related market volatility

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Published on 13-07-2026 09:47 am

Global Debt Market:

US Treasury yields were little changed Friday as investors monitored the latest developments in the Middle East, after a U.S. official said it would continue to hold “technical talks” with Iran despite a flare-up in hostilities. The 10-year Treasury yield the main benchmark for mortgages, auto loans and credit card debt was relatively flat at 4.533%. The yield on the 2-year Treasury note, which typically moves in line with short-term Federal Reserve interest rate decisions, also held firm at 4.168%. The longer-dated 30-year Treasury yield was seen holding steady at 5.052%. With no major economic data releases expected Friday, traders continue to watch events in the Middle East closely, as renewed missile strikes between the U.S. and Iran this week further strained the already-fragile ceasefire agreement. Oil prices eased further during early trading after a U.S. official said Washington remains committed to finding a solution to the conflict, according to an MS Now report. West Texas Intermediate futures were last seen 0.29% lower at $71.87 per barrel. Brent crude the global oil price benchmark slipped 0.25% at $76.11. Treasury yields which spiked earlier in the week after Trump told the NATO summit in Ankara, Turkey that the ceasefire is “over” edged lower on Thursday.

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