Sensex, Nifty End Higher Despite Global Tensions

The geopolitical tensions triggered a sharp rally in crude oil prices, with Brent crude climbing 15.91 per cent during the week to settle at $88.10 per barrel.

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Despite the uncertainty, market sentiment received support from a strong start to the first-quarter earnings season and the Union Cabinet's approval of two major manufacturing initiatives with a combined outlay of nearly Rs 1.9 lakh crore.

Several blue-chip companies announced their June quarter results during the week, including HCL Technologies, Tech Mahindra, Wipro, Reliance Industries and Jio Financial Services.

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Sensex, Nifty Open Lower as IT Stocks Drag Markets Markets

Technology stocks remained in focus after TCS shares rallied following its quarterly earnings, while Tech Mahindra gained after reporting an 8.2 per cent sequential rise in consolidated net profit to Rs 1,465 crore for the quarter ended June 30.

HCL Technologies also impressed investors after posting a 20.32 per cent year-on-year increase in consolidated net profit to Rs 4,624 crore in the first quarter of FY27.

However, Dr. Reddy's Laboratories remained under pressure for a second consecutive week after the pharmaceutical company said commercial supplies of its semaglutide product would be delayed due to an active pharmaceutical ingredient (API)-related quality issue.

Market volatility increased during the week, with India VIX rising 7.3 per cent as investors weighed geopolitical risks, elevated oil prices and the global interest rate outlook.