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Published on 17-07-2026 05:59 pm

Global Market Update

• European Market – European shares dropped on Friday, erasing weekly gains, as technology shares extended declines on concerns about the sector’s stretched valuations.. Both Germany and France Index declined 0.5%.each.

• Asian Market – Asian stocks fell early Friday, tracking losses in the U.S. as investor anxiety over high levels of artificial-intelligence spending triggered a broad selloff in the technology sector. Japan Index declined over 4%.

• US Data – Industrial Production and Housing Starts.

• Commodity – Oil price advance 2% to above $86/bbl as the escalating conflict between the US and Iran disrupted supply from the Middle East.

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Published on 17-07-2026 05:59 pm

Derivative Outlook:

• Nifty future closed positive with gains of 1.03% at 24345 levels. Positive setup seen in Federal Bank, Kalyan, Techm, Bharat Forge, TCS, DLF, Exide Industries, Sonacoms, Prestige and Persistent while weakness seen in National Aluminum, Polycab, KEI Industies, Cummins, BSE, VMM, Vedanta MCX, Glenmark and CG Power.

• On option front, Maximum Call OI is at 24300 then 25000 strike while Maximum Put OI is at 24200 then 24000 strike. Call writing is seen at 24300 then 24350 strike while Put writing is seen at 24200 then 24000 strike. Option data suggests a broader trading range in between 23900 to 24700 zones while an immediate range between 24100 to 24600 levels.

• Diamond Cable – Company won order worth Rs185 from Adani Energy.

• Inox Clean Energy said to lead race for another renewable energy deal – Company is said to be leading the race to acquire a renewable energy company, people familiar with the development told VCCircle. If the transaction goes through, it would mark yet another acquisition by the company as it expands its renewable energy portfolio.

• Federal Bank reported a net profit of Rs 1,177 crore in Q1, up 36.6% from Rs 862 crore in the year-ago period. Net interest income (NII) increased 26.1% year-on-year to Rs 2,946 crore from Rs 2,337 crore. Asset quality improved, with gross NPA declining to 1.52% from 1.62% in the previous quarter and net NPA falling to 0.18% from 0.20%. Provisions stood at Rs 317 crore, down from Rs 741 crore in the previous quarter and Rs 400 crore a year earlier. Tax expense rose to Rs 402.7 crore from Rs 294.4 crore.

• Central Bank of India reported a net profit of Rs 1,324 crore in Q1, up 13.3% from Rs 1,169 crore a year earlier. Net interest income (NII) rose 16% year-on-year to Rs 3,914 crore from Rs 3,383 crore. Gross NPA improved to 2.60% from 2.67% in the previous quarter, while net NPA remained unchanged at 0.49%. Provisions declined to Rs 401.6 crore from Rs 521.1 crore a year ago and Rs 504.3 crore in the preceding quarter. Operating profit fell 5.1% YoY to Rs 2,186 crore from Rs 2,304 crore.

• Bank of Baroda – Company said its board will consider a proposal to raise foreign currency funds on July 24.

• PTC Industries – Company said it has secured an order from BrahMos Aerospace for an airframe system.

• NBCC (India) – Company has received new orders worth Rs 85.6 crore.

• Jindal Stainless – Company said it has supplied 40 per cent of the total stainless steel requirement for India's first hydrogen-powered train

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Published on 17-07-2026 05:59 pm

Technical Outlook:

• Nifty index opened on a flattish note and remained firmly positive throughout the session as bulls pushed the index above the crucial 24300 zones without any substantial retracement. Sustained buying throughout the day kept the momentum intact, helping the index close near its day's higher zone. It formed a bullish candle on the daily frame and closed above the highs of the last seven trading sessions, indicating improving bullish sentiment. It formed a bullish candle and an inside bar on the weekly frame. Now it needs to hold above 24300 zones for an up move towards 24500 then 24600 zones while supports have shifted higher to 24200 then 24100 zones.

• S&P BSE Sensex index opened on a positive note and buying interest was seen from the initial tick. Bulls showed resilience throughout the session as every minor decline was bought into. The index broke above the range of the last seven sessions near 77850 zones and managed to hold above the same. It formed a bullish candle on both daily and weekly charts indicating multiple support levels remain intact and buying interest continues to emerge from lower levels. The sustained buying throughout the session helped index end with gains of around 960 points. Now it has to hold above 78000 zones, for a bounce towards 78500 then 78700 marks while on the downside support are shifting higher at 77700 and then 77500 zones.

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Published on 17-07-2026 05:58 pm

Heavyweight buying in Tech Mahindra, TCS, Reliance Industries, Hindustan Unilever, HDFC Bank, and Axis Bank lifted the benchmark indices, with the Nifty rising above the 24,300 mark. The Bank Nifty emerged as the top-performing sectoral index, surging 1.5%, driven by strong gains in private banking majors ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank ahead of their Q1 earnings announcements scheduled for tomorrow.

• The Nifty climbed 261 points, or 1.1%, to close at 24,334. However, the Nifty 500 advance-decline ratio remained at 1:2, suggesting that the rally was largely concentrated in large-cap stocks as investors positioned themselves ahead of the ongoing quarterly earnings season.

• Index heavyweight Reliance Industries advanced around 2% ahead of its Q1 results, due later today. The Nifty IT Index also gained nearly 2%, led by strong buying in TCS, Infosys, and Tech Mahindra, which rallied as much as 4%.

• On the global front, most Asian and European markets traded lower, while U.S. index futures fell around 2% amid escalating geopolitical tensions between the U.S. and Iran. The cautious global backdrop is likely to keep investor sentiment subdued in the near term

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Published on 17-07-2026 03:29 pm

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