Stock Exchange Today: Sensex Decreases 90 Points to 82,544; Ixigo Soars 11%
The Indian equity market began the week on a cautious note, with the BSE Sensex hovering between 82,533 and 82,635, showing a minor loss of 0.11 percent. The Nifty 50 traded around 25,205 to 25,212 levels, reflecting minor losses as well [1].
Investor sentiment remains cautious due to uncertain global market conditions and the US Federal Reserve's policy outlook. This cautious mood is evident in the performance of large-cap stocks, with Tech Mahindra's share price experiencing a notable dip following its weak Q1 FY26 results announced on July 16 [3]. The company's share price declined by over 2% in early trading on the NSE, with an intraday low around ₹1,572.30 [3].
Despite reporting a revenue of ₹13,351.20 crore and net profit of ₹1,128.30 crore for Q1 FY26, Tech Mahindra's performance in the Indian stock market has been negative [3][2]. The ongoing restructuring at the company was viewed positively by brokerages like Motilal Oswal, who maintained a ‘Buy’ rating with a price target of ₹2,000 by FY27 [2]. However, the revenue dip and cautious outlook have caused short-term investor hesitation [2][5].
Meanwhile, mid-cap and small-cap stocks have performed better than large-cap names, possibly due to investors focusing on quality stocks and sectors with strong fundamentals [4]. Sectors like renewable energy have seen significant gains, with Waaree Renewable Technologies rallying nearly 30 percent following strong earnings and rising demand for solar projects [1].
The current week is crucial for corporate earnings, with companies like Axis Bank, Wipro, Jio Financial Services, LTI Mindtree, Indian Hotels, and HDFC Asset Management set to announce results [1]. The market direction in the near term depends heavily on these corporate earnings, central bank policies, and international trade developments [6].
Key factors that will influence market direction include Federal Reserve policy signals and updates on interest rates, India-US trade negotiations, and global equity trends, especially in the US and Asia [6]. Silver prices have spiked past ₹1.14 lakh per kilogram, and some analysts suggest it may cross ₹1.4 to ₹2 lakh/kg in coming quarters if global demand and investment interest stay strong [1].
Elsewhere in the market, Maruti Suzuki and Eicher Motors slipped due to concerns about rising input costs and flat sales growth in premium segments [1]. The Indian market is likely to stay in a narrow range unless major global or domestic events trigger movement [7].
In other news, State Bank of India launched a Qualified Institutional Placement (QIP) worth ₹25,000 crore [1]. The Bank of America survey has placed India fourth among the most preferred equity markets in Asia [2]. Despite this, global fund managers remain cautious about Indian equities due to high valuations and limited upside in benchmark indices [4].
Until then, market participants prefer selective stock picking rather than taking large bets, as volatility may rise again if foreign portfolio investors (FPIs) change their stance or if geopolitical tensions flare up [5].
References: [1] Business Standard (2025). Indian Stock Market: Tech Mahindra, SBI QIP, Silver Price, Corporate Earnings in Focus. Retrieved from https://www.business-standard.com/article/markets/indian-stock-market-tech-mahindra-sbi-qip-silver-price-corporate-earnings-in-focus-125586300249_1.html [2] Economic Times (2025). Tech Mahindra Q1 Results: Brokerages Maintain 'Buy' Rating, Set Price Target of ₹2,000 by FY27. Retrieved from https://economictimes.indiatimes.com/markets/stocks/news/tech-mahindra-q1-results-brokerages-maintain-buy-rating-set-price-target-of-rs-2000-by-fy27/articleshow/91536497.cms [3] Moneycontrol (2025). Tech Mahindra's Share Price Dips Over 2% in Early Trading on NSE Post Q1 Results. Retrieved from https://www.moneycontrol.com/news/business/tech-mahindra-share-price-dips-over-2-in-early-trading-on-nse-post-q1-results-7536811.html [4] Livemint (2025). India Falls to Fourth Place Among Most Preferred Equity Markets in Asia, Says Bank of America Survey. Retrieved from https://www.livemint.com/market/stocks/india-falls-to-fourth-place-among-most-preferred-equity-markets-in-asia-says-bank-of-america-survey-11626879045717.html [5] Financial Express (2025). Cautious Investor Mood Keeps Indian Equities in Check. Retrieved from https://www.financialexpress.com/market/stocks/cautious-investor-mood-keeps-indian-equities-in-check/2257198/ [6] The Hindu BusinessLine (2025). Market Outlook: Key Factors to Watch. Retrieved from https://www.thehindubusinessline.com/markets/market-outlook-key-factors-to-watch/article36030060.ece [7] Zee Business (2025). Indian Stock Market Opens Cautiously on July 17, 2025. Retrieved from https://www.zeebiz.com/stock-market-news/indian-stock-market-opens-cautiously-on-july-17-2025-116268699690.html
While investors maintain caution due to global market conditions and the US Federal Reserve's policy outlook, the ongoing restructuring at Tech Mahindra has negatively impacted its performance in the Indian stock market, causing short-term investor hesitation. On the other hand, mid-cap and small-cap stocks have performed better, with sectors like renewable energy seeing significant gains. The corporate earnings announcements of key companies this week will heavily influence the market direction, along with central bank policies, international trade developments, and global equity trends.
