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Below the Quote on Daily Market Commentary for July 13th 2026 by Siddhartha Khemka, Motilal Oswal Financial Services Ltd

Indian markets demonstrated resilience on Monday despite challenging global cues, reflecting continued support from domestic fundamentals. Indian equities are expected to maintain a gradual uptrend, with the Q1FY27 earnings season likely to be the key catalyst for sectoral and stock-specific action limiting downside. Volatility, however, is likely to remain elevated amid evolving geopolitical developments in West Asia. Investor sentiment will remain sensitive to developments surrounding the US-Iran conflict, movements in Brent crude oil prices and domestic inflation. Globally, markets will focus on US inflation, Federal Reserve Chair’s first semi-annual testimony and China's second-quarter GDP for further cues on global growth and the interest rate outlook. Domestic markets recovered strongly in early trade, with the Nifty 50 rising nearly 1%, before paring gains to end largely unchanged at 24,211. Broader markets also remained subdued, with the Nifty Midcap 100 and Smallcap 100 ending flat. Market volatility increased, with India VIX rising around 10%, while the rupee weakened 0.5% to Rs 95.7/US$ amid higher crude oil prices, elevated US Treasury yields and a stronger US dollar.  Sectorally, Information Technology, Media and Consumer Durables outperformed, while Cement, FMCG, Metals and Chemicals lagged. The Nifty IT index outperformed after TCS announced a multi-year transformation deal and both TCS and LTM reported healthy Q1FY27 results, improving sentiment towards the sector ahead of the broader earnings season. Meanwhile, Brent crude oil rose around 5% to US$79.5/bbl amid renewed concerns over potential supply disruptions in West Asia, reinforcing concerns over global energy supplies. Going ahead, more than 140 companies are scheduled to report Q1FY27 earnings this week, including benchmark heavyweights Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, HCL Technologies, Wipro, Tech Mahindra, Jio Financial Services and JSW Steel, representing over 31% of the Nifty 50's weight. Domestically, investors will monitor India's June CPI and WPI inflation, followed by unemployment, trade balance and foreign exchange reserves later in the week. The primary market will also remain active, with three IPOs collectively targeting to raise nearly Rs 10,100 crore

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