Market Wrap, 17 July 2026: Sensex And Nifty End Higher Despite Global Weakness

The Sensex and the Nifty 50 rallied on Friday. This was in stark contrast to global markets that appeared to be under pressure following the escalation of conflict in West Asia. At the closing bell, the:

• Nifty 50 stood at 24,334.30, up 1.09%

• Sensex stood at 78,151.45, up 1.25%

Broader markets, however, were under pressure and closed in the red. The Nifty Midcap 100 index closed 0.41% lower. On the other hand, the Nifty Smallcap 100 index ended 0.21% lower. Sector-wise, the Nifty IT and Nifty Private Bank surged and closed 1.75% and 2.12% higher, respectively.

Nifty 50 Gainers And Losers

The following stocks were the top gainers and losers in the Nifty 50 index today:

Factors That Propelled Markets

Several factors contributed to a market rally today:

• Strong rally in Information Technology (IT) stocks after stronger-than-expected Q1 FY27 results of Tech Mahindra.

• Strengthening of the rupee by 14 paise to 96.28 against the US dollar in intraday deals.

• Optimism over expected strong Q1 FY27 results of heavyweights like Reliance Industries, HDFC Bank, Axis Bank, ICICI Bank and Kotak Mahindra Bank, among others.

Crude Oil Rates Today

Crude oil prices saw a marginal rise after the US targeted Iran’s key strategic port facilities and logistics infrastructure. At 15:37, Brent oil futures for September 2026 stood at $85.68 per barrel. During the same time, West Texas Intermediate (WTI) futures for August 2026 stood at $80.55 per barrel.

Other Important Headlines

Some of the other major headlines of the day include:

• Serum Institute of India has joined hands with Gates Medical Research Institute to make an experimental tuberculosis (TB) vaccine.

• As per industry estimates, India's pharma exports to the UK may rise up to 10% in FY27 following the Comprehensive Economic And Trade Agreement (CETA).

• In a major milestone that can boost its space communication plans, Reliance Jio has received IN-SPACe approval to deploy around 1,600 low-Earth orbit satellites.

Gold And Silver Rates Today

Gold and silver rates traded mixed on the Multi-Commodity Exchange (MCX). At 15:39, gold August futures on the MCX stood at ₹1,40,648 per 10 grams, up 0.21%. September silver futures during the same time stood at ₹2,15,650 per kg, down 0.17%.

The focus in the coming trading sessions is likely to be on corporate earnings and global developments. Market participants will closely monitor the outcome of the earnings season alongside movements in crude oil prices and the evolving situation in West Asia. All of these are likely to influence risk appetite.

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