MUMBAI: After rallying for four straight weeks, Indian stocks posted slight weekly declines as escalating tensions in West Asia pushed oil prices higher.
Nifty shares lost 0.26 per cent for the week and were up 1.02 per cent on the last trading day at 24,206. The Sensex ended 827 points or 1.08 per cent higher at 77,569. It lost 0.25 percent for the week.
Indian stocks had a volatile week, with early optimism giving way to a sharp bout of risk aversion due to geopolitical tensions.
Investor sentiment weakened after fresh military strikes and concerns about the progress of US-Iran peace talks fueled risk-off sentiment in global markets.
“However, the sell-off proved to be short-lived as investor sentiment improved markedly following encouraging business news in the first quarter of FY2027 in the banking and IT sectors, providing a constructive backdrop for the upcoming earnings season,” the analyst said.
Indian shares gradually recovered in the second half of the week as crude oil prices fell from nearly $76 a barrel to $71-72, global technology stocks rebounded and optimism around ongoing diplomatic discussions helped improve overall market sentiment.
Sustained earnings outperformance in the first quarter of FY27 is likely to bolster confidence in the corporate earnings outlook for FY27, which could support a recovery in FII inflows, they said.
Foreign institutional investors (FIIs) remained net buyers throughout most of the trading sessions, ending the week with net inflows of around Rs 4,670 crore.
On the industry front, real estate, consumer durables and IT led the pack, while media, FMCG and chemicals lagged behind. The mid- and small-cap segments outperformed the broader market, led by gains in real estate, consumer durables and metals stocks.
Broad market indices showed divergence from benchmark indices with Nifty Midcap100 up 1.36 percent and Nifty Smallcap100 up 1.26 percent for the week.
The immediate resistance levels for Nifty are located at 24,300 level and 24,100 level is expected to provide immediate support followed by 24,000 level.
Additionally, immediate support for Bank Nifty lies in the 57,800-57,700 zone while resistance is seen in the 58,200-58,300 zone.
Investors continue to look to fiscal 2027 first-quarter earnings, domestic inflation data, U.S. core inflation data and comments from Federal Reserve officials.
“Despite the hawkish tone of the recent FOMC meeting, easing inflation pressures and slowing economic growth in the US, EU and China have increased expectations of looser monetary policy,” a market participant said.
-IANS
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- Published Jul 11, 2026 at 1:37 pm EST.
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