Equities Edge Higher on Financials; Rupee Flat, Bond Yields Ease

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

By Dehuti Jani

July 15, 2026 at 11:55 AM IST

Indian equity benchmarks ended marginally higher on Wednesday as gains in banking and financial stocks ahead of key quarterly earnings offset pressure from escalating US-Iran tensions and elevated crude oil prices. The Nifty50 rose 26.45 points or 0.11% to 24,078.50 while the Sensex gained 130.49 points or 0.17% to 77,185.43. The benchmarks had risen as much as 0.8% during the session before surrendering most of their gains.

Global sentiment received support from softer-than-expected US inflation data for June, which reinforced expectations of a less aggressive Federal Reserve policy stance. However, gains in domestic equities were capped as Brent crude rose about 1% to $85.50 per barrel amid fresh US-Iran strikes and continued tensions over the Strait of Hormuz.

Eleven of the 16 major sectors advanced. Financials rose 0.6%, while banking and PSU bank stocks also gained ahead of key earnings. The Nifty PSU Bank index advanced nearly 1%, while metal stocks fell more than 1%. IT, realty and FMCG stocks extended losses, while pharma advanced for a second consecutive session. Broader markets outperformed, with the Nifty MidCap and Nifty SmallCap indices rising around 0.3% and 0.7%, respectively.

The Indian rupee ended nearly flat at 96.2550 per US dollar, remaining near its lowest level in more than a month. The currency strengthened to an intraday high of 96.06 on dollar sales by foreign banks, likely on behalf of custodial clients, but surrendered those gains as corporate dollar demand picked up.

Indian government bonds advanced, supported by an overnight decline in US Treasury yields and continued foreign portfolio investor buying. The benchmark 6.94% GS 2036 yield eased to 6.7738% from 6.7945% at the previous close, although short positioning capped further gains.

Top Movers of the Day

Nuvoco Vistas Corporation surged 10.50% to ₹377.25 after the cement maker reported quarterly earnings that investors welcomed, lifting the stock among the session's top performers.

Gabriel India jumped 8.48% to ₹1,354.50 after the auto components maker reported quarterly results that boosted investor sentiment.

Aegis Logistics climbed 8.07% to ₹1,321.10 on sustained buying interest, with no major company-specific announcement immediately driving the gains.

Ather Energy advanced 7.87% to ₹1,296.40 as investors continued to accumulate the recently listed electric two-wheeler maker, with no fresh company-specific trigger immediately evident.

LT Technology Services gained 6.53% to ₹3,508.30 as positive sentiment towards IT stocks lifted the engineering services company following upbeat earnings from larger sector peers.

Billionbrains Solutions rose 6.15% to ₹216.33 after the company reported quarterly earnings, prompting investor buying in the stock.

Jubilant Pharmova climbed 5.54% to ₹1,028.40 after reporting quarterly earnings, with investors assessing the company's financial performance.

Triveni Turbine added 5.20% to ₹639.25 on sustained buying interest, with no confirmed company-specific catalyst immediately reported.

HFCL advanced 4.84% to ₹223.08 after the stock hit the upper circuit amid strong buying interest.

Hitachi Energy India gained 4.59% to ₹33,980.00 as investors accumulated capital goods stocks, with no company-specific announcement immediately evident.

ABB India rose 4.53% to ₹7,204.50 after investors assessed the company's quarterly earnings and management commentary.

Patanjali Foods plunged 14.64% to ₹347.90 after the stock hit the lower circuit, with heavy selling pressure weighing on the shares during the session.

Tata Elxsi declined 4.78% to ₹3,520.40 as investors booked profits in the IT stock, with no company-specific announcement immediately evident.

PhysicsWallah fell 3.99% to ₹136.87 amid sustained selling pressure, with no confirmed company-specific catalyst immediately reported.

Futures & Options
The Nifty July 2026 futures settled at 24,072, a 6.50-point discount to the Nifty 50 cash index, which closed 26.45 points, or 0.11%, higher at 24,078.50. The NSE's India VIX, which measures expected near-term market volatility, fell 3.49% to 13.27. Patanjali Foods, Union Bank and Infosys were the most actively traded individual stock futures in the NSE's F&O segment. The July 2026 derivatives contracts are scheduled to expire on 28 July 2026.

Bonds
Indian government bonds remained higher through the session, supported by an overnight decline in US Treasury yields and continued foreign portfolio investor buying. The yield on the benchmark 6.94% 2036 bond ended at 6.7738%, down from the previous close of 6.7945%.

Selling interest was seen in the 9-year and 15-year government papers, with dealers warning that similar positioning could soon extend to the benchmark 2036 bond, potentially capping further upside.

Forex
The Indian rupee hovered near a more than one-month low before ending little changed on Wednesday. The rupee settled at 96.2550 per dollar, little changed from its previous close of 96.20. It was caught between modest portfolio inflows and dollar demand from local corporates as traders continued to monitor oil prices amid tensions in the Middle East.

Markets have pared expectations of further US Federal Reserve rate hikes, offering some support to emerging-market assets. However, sentiment remained fragile as investors watched for any escalation in the conflict between the United States and Iran, which could push oil prices higher and weigh on the rupee.

Crypto
The cryptocurrency market traded with a positive bias today. Bitcoin rose 3% to trade near $64,650 today after softer-than-expected US consumer inflation data boosted demand for risk assets and eased concerns over further Federal Reserve interest rate hikes. The cryptocurrency traded between $62,430 and $65,050, lifting its market capitalization to about $1.3 trillion as spot trading volumes picked up following recent consolidation.

Ethereum rose about 5.5% to trade near $1,880 today after softer-than-expected US consumer inflation data eased expectations of further Federal Reserve interest rate hikes. Investors also assessed Ethereum co-founder Vitalik Buterin's proposed "Lean Ethereum" roadmap extending through 2029.

US Stock Futures
US stock futures edged higher today after softer-than-expected inflation data reinforced expectations for Federal Reserve rate cuts, extending the previous session's rally. Futures on the Dow Jones Industrial Average rose 86 points, or 0.2%, while S&P 500 futures gained 0.2% and Nasdaq-100 futures advanced 0.4%.

Technology shares led gains in pre-market trading, with semiconductor stocks outperforming. The VanEck Semiconductor ETF rose 1.2%, supported by a 3% jump in ASML after the chip equipment maker raised its sales outlook for the second time this year. Intel and Lam Research also gained more than 3%.

US Treasury Notes
US Treasury yields held near multi-month highs today as geopolitical tensions and persistent inflation concerns continued to keep upward pressure on bond yields. The benchmark 10-year Treasury yield traded around 4.60%-4.62%, while the two-year and five-year note yields stood at 4.14% and 4.13%, respectively.

Markets remained focused on geopolitical developments and their potential impact on energy prices, with investors also assessing the inflation outlook and its implications for the Federal Reserve's monetary policy path.

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