The Indian stock market traded with mixed performance on Tuesday, with the SENSEX falling over 100 points and NIFTY50 trading below 24,400 level as realty and metal stocks led the decline. According to latest market updates, realty, media and chemicals were among the worst performers, while most other sectoral indices traded with marginal gains or losses, indicating a range-bound market. The market showed resilience despite the decline, supported by positive global cues and investor sentiment, with GIFT Nifty on the NSE trading higher by 97.5 points at 24,589.50, signaling a positive start for Wednesday's session. As per The Economic Times, the market surged on Monday with the Sensex and Nifty extending gains for a fourth consecutive session, supported by widespread monsoon rainfall that boosted hopes for rural demand, renewed buying by foreign institutional investors (FIIs), and a host of other positive factors that strengthened investor sentiment.
IT stocks emerged as the standout performers on Tuesday, with NIFTY IT surging 2.36% to emerge as the top gainer, followed by Consumer Durables and Private Banks. As reported by The Economic Times, the sector has demonstrated strong momentum, gaining 7% over the past five sessions as investors position themselves for key earnings announcements. Indian IT stocks gained with Infosys rising nearly 4%, TCS gaining 3%, Tech Mahindra up 3.4% and Mphasis advancing 3%, even as Asian technology shares came under pressure after a sharp selloff in South Korea's chipmakers. The earnings season is set to begin on Thursday, July 9, with Tata Consultancy Services (TCS) scheduled to announce its quarterly results, which is expected to provide crucial insights into the sector's performance. According to latest reports, Wipro was the only laggard in the IT pack, slipping 0.4% despite the broader sector recovery. However, NIFTY IT slipped over 1 per cent ahead of TCS earnings announcement due later in the day, with the sector's losses led by Infosys, LTIMindtree, HCLTech, and others.
As the June quarter earnings season gets underway with TCS set to report its Q1FY27 results on Thursday, domestic brokerage Motilal Oswal expects revenue growth to remain healthy across segments, with large-, mid and smallcap companies likely to report sales growth of 17%, 15% and 16% YoY, respectively. The brokerage has identified 10 non-Nifty stocks that it is bullish on ahead of Q1 results, including Dixon Technologies with a target price of ₹4,267 (22% upside) and Coforge with a target of ₹4,550 (15% upside). Other notable picks include TVS Motor with strong two-wheeler performance expected after reporting 28% year-on-year volume growth during the quarter, driven by scooter sales growth of 36% and motorcycle volumes rising 19%. Radico Khaitan is forecast to report 15% revenue growth in Q1FY27, with premium and above portfolio volumes expected to rise 20% and revenue to grow 24%.
Several major companies reported varied quarterly results that impacted their stock performance. According to The Economic Times, Trent Ltd, the retail arm of the Tata Group, plunged 10% after reporting a 19% year-on-year increase in standalone revenue for Q1 FY27, with investors reacting to slower growth than expected despite continued store expansion and strength in its fashion retail business. Meanwhile, Info Edge India shares surged 11.05% to ₹1,138.50 after posting strong Q1 FY27 operational performance, with the sharp rally reflecting investor optimism following healthy YoY growth in standalone billings and continued momentum across its key business verticals. Kalyan Jewellers shares fell 7.3% to ₹352.60 despite reporting strong Q1 business update, with the company reporting around 38% year-on-year consolidated revenue growth driven by strong performance across domestic and international operations.
The jewellery and hospitality sectors also witnessed significant movements based on quarterly performance. As reported by The Economic Times, Titan Company shares rose 2% after reporting a 41% year-on-year rise in its consumer businesses for the June quarter, driven by robust jewellery demand, retail expansion and strong growth across its watches, eyecare and international businesses. However, Kalyan Jewellers shares fell 7.3% to ₹352.60 despite reporting strong Q1 business update, with the company reporting around 38% year-on-year consolidated revenue growth driven by strong performance across domestic and international operations. In the hospitality sector, Indian Hotels Company continues to expand with 20 hotels signed in Q1 FY27, reaching a portfolio of 645 hotels with an industry-leading pipeline of 263 hotels.
