Market Midday, 17 July 2026: Benchmarks Maintain Momentum

Benchmarks, the Sensex and Nifty 50, continued to rally in the afternoon trade in contrast to the losses suffered by their global peers. At 12:08 pm, the Sensex was up 1.00%, while the Nifty 50 was up 0.80% during the same time. Broader markets, however, traded in the negative territory. At 12:09 pm, the:

• Nifty Midcap 100 index was down 0.74%

• Nifty Smallcap 100 index was down 0.94%

Top Stocks On The Nifty 50

Stocks of the following firms were the top five performers on the Nifty 50 index at 12:11 pm:

• Jio Financial Services Ltd.

• Kotak Mahindra Bank Ltd.

• Tata Consultancy Services Ltd.

• HCL Technologies Ltd.

• Tech Mahindra Ltd.

Stock-Specific Action

• Tech Mahindra shares jumped over 3% in early trade after the company’s Q1 FY27 beat estimates.

• Jio Financial Services shares rallied 6% in early trade after the company reported a 155% year-on-year (YoY) jump in consolidated net profit in Q1 FY27.

• Wipro shares dipped 3.3% intraday despite the company reporting a 1% YoY growth in its net consolidated profit.

• HCL Tech shares rallied 3% in early trade after the company announced a seven-year agreement with the Guardian Life Insurance Company of America.

• CEAT shares declined more than 7% in early trade after the tyre major reported a significant decline in its Q1 FY27 earnings.

IPO Corner

In the primary markets:

• Caliber Mining's initial public offering (IPO) opens for subscription today. The company seeks to raise ₹450 crore through its IPO.

• The allotment of SBI Fund Management's IPO is expected to be finalised today.

Market participants are likely to keep a close watch on corporate earnings, stock-specific movements and global market trends during the remainder of the session. Sustained buying in heavyweight stocks across sectors could help the benchmark indices hold on to their gains. However, weakness in the broader market may limit the overall strength of the rally.

Also Read - Jio Financial Shares Rally Over 4% After Q1 Profit Jumps 156% To Rs 830 Crore.