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• Equity benchmark Nifty ended on a flat note as investors remained cautious amid escalating geopolitical tensions between the US and Iran and a sharp rise in crude oil prices, which climbed to a one-month high above $85 per barrel. Market sentiment was further dampened after Asian and European equities declined following reports that Iran had closed the Strait of Hormuz, raising concerns over global energy supplies and inflation.

• The Nifty closed largely unchanged at 24,072 compared with the previous session. The Nifty 500 advance-decline ratio stood at 2:3, indicating profit booking in mid-cap and small-cap stocks.

• Despite the subdued broader market, select capital goods stocks outperformed. BHEL rallied 4% to close at ?435 after reporting strong Q1 earnings. ABB India gained 2% following reports that its parent company, ABB Global, reported an 81% year-on-year surge in order inflows from India during Q2CY26, significantly exceeding analysts' expectations.

• Meanwhile, auto, banking, and FMCG stocks largely traded flat to marginally lower. Overnight, US markets advanced nearly 0.5% after US producer price inflation eased to a one-year low in June, strengthening expectations that the Federal Reserve may postpone further interest rate hikes following softer-than-expected inflation and PPI data. +1.44 (+0.00%)

Technical Outlook:

• Nifty index opened on a flattish note and remained within a range of 100 points throughout the session, witnessing volatile swings on either sides amidst indecisiveness. The index formed a bearish candle along with an inside bar on the daily frame indicating some rejection at higher levels while support based buying intact at lower levels. Now it has to hold above 24000 zones, for a bounce towards 24250 then 24400 zones while supports can be seen at 23950 then 23850 levels.

• S&P BSE Sensex index opened on a positive note and traded in a band of nearly 300 points till midday with momentum missing on either sides. In the latter part, profit booking emerged and dragged the index towards 77150 zones from the upper band of 77500 marks. It formed an inside bar pattern on the daily chart indicating lack of momentum in the market. The index has been holding above its 20 DEMA from the last few sessions and now requires a decisive breakout for the next leg of the rally. Now it has to hold above 77000 zones, for a bounce towards 77700 then 78000 marks while a hold below the same could see weakness towards 76700 and then 76500 zones.

Derivative Outlook:

• Nifty future closed positive with gains of 0.15% at 24103 levels. Positive setup seen in ABB, Dixon, SRF, PGEL, Hyundai, Indigo, Bajaj Finance, Lodha, Sonacoms and Biocon while weakness seen in ICICIGI, HDFC AMC, Policy Bazaar, Kfintech, MCX, National Aluminum, MFSL, BSE, CAMS and Oil India.

• On option front, Maximum Call OI is at 24200 then 24100 strike while Maximum Put OI is at 24000 then 24100 strike. Call writing is seen at 24150 then 24100 strike while Put writing is seen at 24100 then 24050 strike. Option data suggests a broader trading range in between 23800 to 24500 zones while an immediate range between 23900 to 24300 levels

• Biocon Malaysia Facility Gets European Nod for New Insulin Line – Company has received approval from the European Medicines Agency for a new drug product fill finish line for Semglee at its manufacturing facility in Malaysia.

• ACME Solar Raises $275M for 450MW Renewable Project – Company raised 26.47 billion rupees ($275 million) in long-term project funding from REC Ltd. to develop and construct its 450MW/1,800MWh ACME Greentech Seventh Assured Peak Power Project.

• Prestige Estates posts Rs6580cr pre-Sales in 1Q FY27 – Company reported pre-sales of Rs6580cr in 1Q FY27. Hyderabad led regional sales at 49%, followed by Bengaluru at 27% and Mumbai at 12%. Collections reached Rs4800cr, with retail mall GTO up 18% y/y to Rs737cr. Four projects launched in 1Q FY27, covering 20.16m sq ft with GDV of Rs12000cr. Commercial portfolio recorded gross leasing of 1.5m sq ft; exit rentals stood at Rs756cr.

• Anand Rathi Wealth – Company received in-principle approval from the IFSCA to operate as a non-retail Fund Management Entity in GIFT City. The license allows the firm to pitch dedicated offshore funds and alternative portfolios to global institutional clients and NRIs.

• Indian passenger vehicle sales hit record high - Automobile industry posted record first-quarter sales across all major segments in the April-June 2026 period, driven by lower vehicle costs, taxation reform and easier financing, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on July 15. Passenger vehicle sales reached 1.27mn units, up 25.9% y/y, marking the segment's strongest-ever Q1 performance.

• TCS, Google Cloud open Gemini Experience Center in Kolkata to boost agentic AI adoption – Company and Google Cloud have launched a Gemini Experience Center (GEC) in Kolkata focused on the consumer business sector, as the IT services company expands its industry-specific artificial intelligence innovation hubs globally. The Kolkata facility is TCS' eighth Gemini Experience Center worldwide and its third in India.

Global Market Update

• European Market - European stocks fell as the second-quarter reporting season got underway. Rotork Plc surged 66% after ABB Ltd. agreed to buy the British industrial components maker. UK, Germany and France Index declined up to 0.5%.

• Asian Market - Asia-Pacific equities were mixed, with chip stocks leading declines as concerns about the longevity of artificial-intelligence enthusiasm weighed on market sentiment%. Both South Korea and Japan Index declined 6% and 2.8% respectively while Hong Kong Index gained 1.4%.

• US Data - Retail Sales and Jobless Claims.

• Commodity - Oil steadied after a three-day rally as the US carried out another round of airstrikes on Iran following a series of shipping attacks by the Islamic Republic this week. Global benchmark Brent traded below $85 a barrel after gaining 12% in the previous three sessions.

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