Stock Market at Mid-Day, July 16, 2026: Sensex Up 224 points, Nifty Rises 62 points as Oil Rally Fails to Dent Sentiment

Mumbai, July 16: Indian benchmark indices remained buoyant through the noon session on Thursday and traded with modest gains as they tracked a strong overnight close on Wall Street even as Asian peers traded mixed. Sensex and Nifty50 remained firmly in the green as investor shrugged off geopolitical risks triggered by another bout of hostilities between Iran and the US which saw Brent crude soar to a one-month high. Markets sentiment remained supported by optimism around earnings season. 

The BSE Sensex traded 224.26 points or 0.29 per cent higher at 77,409.69 and the NSE Nifty50 advanced 62.55 points or 0.26 per cent to 24,141.05 as of 12:04 pm. 

Gainers & Losers 

HCL Technologies gained the most among top Nifty50 stocks, rallying 2.17 per cent to Rs 1,193.40 against its previous close of Rs 1,168. Wipro (WIPRO) advanced 1.77 per cent to Rs 177.75 from Rs 174.65, Tata Consultancy Services (TCS) rose 1.74 per cent to Rs 2,227.30 versus Rs 2,189.20, Tech Mahindra (TECHM) gained 1.69 per cent to Rs 1,524 from Rs 1,498.70 and Titan Company (TITAN) climbed 1.69 per cent to Rs 4,657 against Rs 4,579.40. 

SBI Life Insurance dropped the most among Nifty50 stocks, declining 2.04 per cent to Rs 1,828.30 from Rs 1,866.40. Eternal fell 1.80 per cent to Rs 289.50 versus Rs 294.80, Axis Bank eased 0.89 per cent to Rs 1,300.60 from Rs 1,312.30, Shriram Finance slipped 0.64 per cent to Rs 1,027.20 against Rs 1,033.80 and Oil and Natural Gas Corporation shed 0.49 per cent to Rs 245.96 from Rs 247.18. 

Broad Markets & Sectoral Performance 

Among broad market indices, the Nifty 50 gained 0.31 per cent, the Nifty Next 50 rose 0.37 per cent and the Nifty Midcap Select traded 0.46 per cent higher, while the Nifty Bank declined 0.20 per cent, the Nifty Financial Services dropped 0.34 per cent and the Nifty Midcap 100 eased 0.04 per cent. Among sectoral indices, the Nifty IT jumped 1.50 per cent, the Nifty Consumer Durables rose 1.61 per cent and the Nifty Media gained 1.03 per cent, while the Nifty Capital Markets tumbled 1.89 per cent, the Nifty Midsmall Financial Services declined 1.22 per cent and the Nifty Realty slipped 0.48 per cent. 

Iran War 

The US carried out strikes on Iran’s coastal defences and missile sites on Wednesday after reimposing a naval blockade of Iranian ports. Tehran said America has launched an “existential war” against it. Iranian officials said strikes hit Greater Tunb Island and targets near Ahvaz and Bandar Abbas in strikes that Tehran vowed to retaliate against. Iran’s Revolutionary Guard Corps said it struck sites in neighbouring Kuwait and eastern Jordan as well as a target in Bahrain in revenge. Kuwait said it intercepted multiple Iranian missiles and drones fired towards it. In a potential goodwill gesture, Iran allowed a detained US national to leave the country, Washington said it welcomed the release. 

Asian Stocks 

Asian stocks traded mixed on Thursday morning with Hong Kong’s Hang Seng surging 1.78 per cent while Tokyo’s Nikkei 225 tanked 2.73 per cent. Malaysian FBM KLCI and Indonesia’s JSX Composite traded with modest gains. Shanghai’s SSE Composite lost 1.43 per cent. Pakistan’s KSE 100 gained just over 1 per cent. 

US Markets 

US markets closed sharply higher on Wednesday with the S&P 500 adding 0.38 per cent and Nasdaq Composite climbing 0.62 per cent. Dow Jones rose 0.29 per cent while the broader NYSE Composite advanced 0.11 per cent. Canada’s S&P/TSX Composite also ended higher, rising 0.27 per cent. 

Oil Prices 

Oil extended its rally for the fourth consecutive session on Thursday with Brent crude rising $85.28 a barrel and US WTI up $80.02 per barrel, Reuters reported. Brent crude rose towards $85.70 per barrel while US WTI was up near $80.20 per barrel after both benchmarks hit one-month highs in the previous session. Prices pared some gains but remained elevated as attacks continued around the Strait of Hormuz, through which about a fifth of global oil and gas trade passed before the war began. Goldman Sachs analysts said Brent crude could reach $110 per barrel later this year if Gulf export disruptions continue, though it warned prices could retreat into the $60s if tensions ease. 

Indian Markets in Morning Session 

Indian benchmark indices opened sharply higher on Thursday and tracked Wall Street’s positive close on Wednesday. The Sensex opened up 262.08 points or 0.34 per cent at 77,447.51 and Nifty50 advanced 83.35 points or 0.35 per cent to 24,161.85 at the bell. Both the indices have pared some gains but remain in positive territory through the morning. 

Source:

• bseindia.com
• nseindia.com