Indian Benchmark Indices Open Little Changed as Financials Offset Broader Gains

Market Update at 10:15 AM: India’s equity indices opened flat on Friday, with declines in financial stocks—led by Axis Bank after a quarterly profit miss—offsetting gains across other sectors.

At 9:15 a.m. IST, the Nifty 50 was down 0.01 per cent at 25,108.55 points, while the BSE Sensex slipped 0.08 per cent to 82,193.62. Of the 13 major sectoral indices, ten traded higher, but financials and private banks fell 0.5 per cent and 1.2 per cent, respectively.

Axis Bank dropped 6 per cent, the steepest fall among Nifty 50 stocks, after its June-quarter profit declined due to higher bad loans from a one-time industry benchmarking exercise.

Broader Mid-Cap and Small-Cap indices remained largely unchanged. In Asian markets, stocks rose after U.S. data showed June retail sales increased and jobless claims fell, reinforcing confidence in the resilience of the U.S. economy.

Pre-Market Update at 7:45 AM: On Friday, July 18, the Nifty 50 and Sensex are expected to open higher, tracking strength in global markets. As of 7:19 AM, the GIFT Nifty was trading near the 25,193 level, up by 45 points from its previous close, indicating a positive start for Indian equities.

Asian markets opened in the green, while U.S. benchmarks closed at record highs. The S&P 500 and Nasdaq Composite ended at new peaks, supported by strong economic indicators and upbeat earnings.

On Thursday, Indian markets ended in the red, influenced by volatility from the Nifty’s weekly F&O expiry. The Nifty 50 fell 0.40 per cent to close at 25,111.45, while the Bank Nifty dropped 0.59 per cent to 56,828.80. IT stocks were the biggest drag, but sectors like realty, FMCG, and metals posted minor gains. Mid-cap and small-cap indices saw marginal declines.

Investors are now focused on Q1 FY26 earnings scheduled for Friday. Major companies like Reliance Industries, JSW Steel, Hindustan Zinc, Bandhan Bank, Indian Overseas Bank, L&T Finance, Mangalore Refinery and Petrochemicals, Indiamart Intermesh, Atul, Hatsun Agro Products, and Mastek are set to release their results. In total, over 33 companies are expected to announce quarterly earnings today.

On July 17, Foreign Institutional Investors (FIIs) were net sellers of equities worth Rs 3,694.31 crore. Domestic Institutional Investors (DIIs) remained net buyers, purchasing shares valued at Rs 2,820.77 crore.

U.S. markets closed on a positive note on Thursday. The Dow Jones gained 229.71 points to end at 44,484.49, the S&P 500 rose by 33.66 points to 6,297.36, and the Nasdaq Composite added 153.78 points to settle at 20,884.27.

U.S. retail sales increased by 0.6 per cent in June, recovering from a 0.9 per cent decline in May, and posted a 3.9 per cent year-on-year rise. Weekly jobless claims dropped by 7,000 to 221,000, reflecting continued resilience in the U.S. labour market.

Federal Reserve Governor Christopher Waller has reiterated support for a rate cut, citing low inflation risk from tariffs and increasing risks to economic growth.

Crude oil prices edged higher. Brent crude was up 0.12 per cent to USD 69.60 per barrel, and WTI crude also gained 0.12 per cent to USD 67.62 per barrel due to ongoing tensions in the Middle East.

For today, Angel One, RBL Bank and Hindustan Copper remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.