Indian shares extend gains as corporate updates, lower oil, IT aid sentiment

Jubilant FoodWorks

07/07/2026 08:28

** India's Nifty 50 .NSEI and Sensex .BSESN rise 0.2% each, on course for a fifth straight session of gains, as positive corporate updates and lower oil prices lift sentiment
** IT stocks .NIFTYIT do the heavy lifting, gaining 2.6%; the beaten-down index, which has lost 26.1% so far in 2026, is up 6.4% in July ahead of TCS' TCS.NS quarterly results on Thursday 
** Five of the 16 major sectors advance; broader markets see profit-taking after a recent rally, with small-caps .NIFSMCP100 down 0.7% and mid-caps .NIFMDCP100 losing 0.4%
** Brent crude LCOc1 holds near pre-Iran war levels of $73 a barrel, easing inflation worries for India, the world's third-largest oil importer and consumer 
** "24,570-24,600 is the next resistance zone for the Nifty, adds dips toward 24,300-24,280 are likely to attract buying interest" says Sudeep Shah, head of technical and derivatives research at SBI Securities 
** Titan TITN.NS and Jubilant Foodworks JUBI.NS gain 2.5% and 3% after upbeat quarterly updates 
** Trent TREN.NS falls 11% after softer-than-expected June-quarter standalone revenue growth.

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))