Weekly market wrap: NIFTY50, SENSEX rise 1%; NIFTY IT jumps over 4%; check top gainers and losers

The Indian stock market snapped its losing streak to end the week on a positive note, supported by corporate earnings, even as investors remained cautious amid heightened geopolitical tensions between the US and Iran and a sharp rise in crude oil prices.

Market investors were cautious after the US Central Command (CENTCOM) said that it completed a new wave of offensive strikes against Iran, July 12, hitting dozens of targets at multiple locations with precision munitions to degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz.

The Brent crude soared 15.91% over the week to settle at $88.10 per barrel.

This week, firms like HCL Technologies, Tech Mahindra, Wipro, Reliance Industries, Jio Financial Services and more had declared their Q1 FY27 earnings.

India VIX rose 7.3% during the week, indicating a pickup in market volatility amid lingering geopolitical concerns and cautious investor sentiment.

HCL Technologies also posted a 20.32% year-on-year (YoY) surge in its consolidated net profit (attributable to the owners of the company) to ₹4,624 crore during the quarter under review, compared with ₹3,843 crore in Q1 FY26.

Dr. Reddy's Laboratories shares continued to decline for the second week as the drugmaker had said commercial supplies of its semaglutide product would be delayed due to an active pharmaceutical ingredient (API)-related quality issue.

How the broader market performed this week

During the week, broader markets underperformed the benchmark indices, with the NIFTY Midcap 100 and NIFTY Smallcap 100 falling 1% each.

Shares of Kalyan Jewellers rallied after it reported its quarterly business update for the April-June period last week. The Thrissur-based jewellery retailer said that the recently concluded quarter was a satisfying one with consolidated revenue growth of around 38% in the first quarter of the current financial year compared with the same period last year.

Defence PSU major Bharat Heavy Electricals Ltd (BHEL) shares surged as investors focused on the company turning around to post profits in Q1 FY27, against a net loss a year ago.

Shares of clean-tech player Himadri Speciality Chemicals surged following a strong performance in Q1 FY27. According to a regulatory filing dated July 15, the company’s consolidated net profit soared 27.36% YoY to ₹228.43 crore in the June quarter, on account of higher income.

Sectoral watch this week

Among sectors, the NIFTY IT emerged as the top gainer, rising 4.3%. This was followed by NIFTY Consumer Durables, which advanced 3.1%, and NIFTY Media, up 2.5%. The NIFTY Private Bank gained 1.5%, while NIFTY Oil & Gas edged higher by 1.1%, supported by the uptick in crude prices.

On the downside, NIFTY Realty was the biggest laggard, declining 2.1% during the week. NIFTY Metal followed closely with a 2% dip, while NIFTY India Defence fell 1.5%. NIFTY FMCG also ended lower, slipping 1.1%, and NIFTY PSU Bank registered a decline of 0.8%.