Equities Recover on IT Rally; Rupee Falls as Oil Rises

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Amey Bane/iStockphoto.com

By Dehuti Jani

July 13, 2026 at 12:06 PM IST

Indian equity benchmarks recovered from losses of nearly 1% on Monday to end marginally higher as a sharp rally in information technology stocks offset concerns over renewed fighting in West Asia and higher crude oil prices. The Nifty50 edged up 4.10 points or 0.02% to 24,211, while the BSE Sensex gained 47.01 points or 0.06% to 77,616.40. Both benchmarks had fallen as much as 0.9% earlier in the session.

The Nifty IT index surged 3.6% to a one-month high, supported by major technology partnerships and improving sentiment following better-than-expected earnings from Tata Consultancy Services. TCS also announced a multi-million-dollar deal with ABB, while LTIMindtree partnered with Anthropic to accelerate adoption of Claude.

Tata Consultancy Services, HCL Technologies and Tech Mahindra were the top Nifty50 gainers. Eight of the 16 major sectors advanced, while the Nifty MidCap and Nifty SmallCap indices ended largely unchanged. FMCG and metal stocks were the biggest sector laggards.

India's retail inflation accelerated to 4.38% in June, the highest since December 2024, from 3.93% in May, as food inflation rose to 5.32% from 4.78%. Headline inflation moved above the Reserve Bank of India's medium-term target of 4%. However, average CPI inflation for the April-June quarter stood at 3.9%, below the RBI's projection of 4.2%, indicating that inflation for the quarter remained within the central bank's expected trajectory despite the June acceleration.

The Indian rupee weakened 0.3% to 95.62 per US dollar, its lowest close in more than a month, after touching an intraday low of 95.85. Higher crude oil prices weighed on the currency after renewed US-Iran strikes and Iran's announcement that it had closed the Strait of Hormuz.

Indian government bonds also weakened as Brent Crude held around $79 per barrel. The benchmark 6.94% GS 2036 yield ended at 6.7309% from 6.7139% on Friday.

Top Movers of the day

Newgen Software Technologies surged 14.17% to ₹590.50 after the company reported strong quarterly earnings, with robust growth in revenue and profitability boosting investor sentiment.

Sonata Software jumped 10.76% to ₹316.05 after reporting stronger-than-expected quarterly results, supported by improved margins and healthy deal execution.

C.E. Info Systems gained 9.37% to ₹1,184.90 after investors cheered the company's quarterly earnings and upbeat business outlook.

Kalyan Jewellers India advanced 7.25% to ₹510.65 after the jewellery retailer reported strong quarterly earnings, aided by healthy revenue growth and sustained consumer demand.

R R Kabel climbed 6.70% to ₹2,374.80 after the company posted robust quarterly earnings, lifting investor confidence.

Shyam Metallics and Energy rose 5.56% to ₹1,029.35 after reporting strong quarterly performance, supported by improved operating profitability.

Voltas gained 4.88% to ₹1,349.50 after the company reported better-than-expected quarterly earnings, driven by strong growth in its cooling products business.

TCS jumped 5.44% to ₹2,181.50 after the IT major reported quarterly earnings that beat market expectations and announced an interim dividend, boosting investor sentiment.

HCL Technologies advanced 4.89% to ₹1,219.50 as the stock tracked broad-based gains in information technology shares following TCS's earnings, which lifted sentiment across the sector.

Jammu & Kashmir Bank declined 5.22% to ₹182.60 as investors booked profits after the stock's recent gains, making it one of the session's biggest losers.

Siemens Energy India fell 3.48% to ₹3,404.30 as investors booked profits after the stock's recent rally.

Nuvama Wealth Management slipped 2.93% to ₹1,919.70 as profit booking weighed on the stock despite gains in the broader market.

Futures & Options
Nifty July 2026 futures settled at 24,249 on Monday, a premium of 38 points to the Nifty 50 cash index, which closed 4.10 points, or 0.02%, higher at 24,211. The NSE's India VIX, which measures near-term market volatility expectations, surged 8.38% to 13.28.

Infosys, Kalyan Jewellers India and HDFC Bankwere the most actively traded single-stock futures contracts on the NSE's derivatives segment. The July 2026 derivatives contracts are scheduled to expire on July 28, 2026.

Bonds
Indian government bond yields remained marginally higher after India's retail inflation accelerated more than expected in June, reinforcing caution amid elevated crude oil prices. The yield on the benchmark 6.94% 2036 bond ended at 6.7309%, compared with the previous close of 6.7517%.

India's consumer price inflation rose to 4.38% in June from a year earlier, above the market expectation of 4.30%. The reading was the highest since December 2024 and the first time in 16 months that headline inflation exceeded the Reserve Bank of India's medium-term target of 4%. The increase was largely driven by higher food and fuel prices, an outcome that gilt market participants had broadly anticipated.

Forex
The Indian rupee slid to its weakest level in more than a month on Monday as a jump in oil prices, triggered by an exchange of strikes between the United States and Iran and Tehran's move to close the Strait of Hormuz, weighed on oil-sensitive Asian currencies. The rupee settled at 95.62 per dollar, down 0.3% from the previous close, after falling to an intraday low of 95.85.

Crypto
The overall cryptocurrency market traded firm on Friday, with Bitcoin holding near the $64,000 mark after extending its recovery from recent lows. Bitcoin traded at $1,799.70, remaining close to recent highs as the second-largest cryptocurrency continued to outperform broader digital assets.

US Stock Futures
US stock futures were mixed early Monday, with Nasdaq-100 futures falling more than 1% as semiconductor stocks tracked sharp losses among their Asian peers, while investors monitored developments in the Middle East and prepared for a busy week of corporate earnings. Nasdaq-100 futures fell 1.07% and S&P 500 futures slipped 0.31%, while futures on the Dow Jones Industrial Average edged up 9 points, or 0.02%.

US Treasury Notes
US Treasury yields rose, with the benchmark 10-year note hovering near a seven-week high, as renewed geopolitical tensions in the Middle East pushed oil prices higher and fuelled inflation concerns. The 10-year Treasury yield traded at 4.57%, while the five-year and two-year note yields were at 4.31% and 4.21%, respectively.

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