Domestic equity markets look set for a cautious and slightly soft start to Tuesday's trading session. The early indicator, Gift Nifty, is flashing weakness, and a surge in global crude oil prices to a one-month high is weighing on the overall mood. At the time of writing, Gift Nifty futures were trading at 24,05, down 0.08%.
Markets ended the previous session marginally in the green. Supported by buying in IT counters, the Nifty 50 closed slightly higher at 24,211, while the Sensex added 47 points to settle at 77,616.40.
Focus shifts to individual earnings
With the Q1 FY27 earnings season now in full swing, investors are expected to turn their attention toward triggers in individual stocks rather than the broader index movement. That means company-specific news is likely to steer the market's direction in the days ahead far more than the overall trend.
Adding to the caution is a fresh bout of tension from the Gulf region. The reimposition of a US naval presence in the Strait of Hormuz has injected a more guarded tone into overall market sentiment. Against this backdrop, several stocks are likely to draw attention on Tuesday. Here are the counters to keep an eye on.
HCL Technologies posts a strong quarter
IT major HCL Technologies has delivered a robust set of numbers for the June 2026 quarter. Net profit rose 20.3% year-on-year to Rs.4,624 crore, while revenue climbed 13.9% to Rs.34,579 crore. The company's EBIT grew 18% year-on-year to Rs.5,831 crore, with margins expanding 58 basis points to 16.8%. In dollar terms, revenue rose nearly 3% to $3.65 billion. Alongside the results, the company has declared an interim dividend of Rs.12 per share for FY27.
Biocon set for heavy activity
Shares of pharma major Biocon could see brisk trading on Tuesday. Word has emerged that Viatris-owned Mylan is preparing to fully exit its holding in the drugmaker. The stake in question is around 5.64%, and it is set to be sold through a block deal worth roughly Rs.3,481 crore.
SBI in sharp focus
State Bank of India's shares will be closely watched today. Its subsidiary, SBI Funds Management, opens its Rs.9,813-crore IPO for public subscription today, with a price band of Rs.545 to 574 per share. The asset manager had already raised Rs.2,663 crore a day earlier by allotting shares to 129 anchor investors.
Fresh orders for Bharat Electronics
Defence player Bharat Electronics has announced additional orders worth Rs.572. On top of that, the defence PSU is scheduled to report its next set of quarterly earnings on July 27, which will keep the stock in the spotlight.
ICICI Prudential AMC lifts profit
ICICI Prudential Asset Management Company has reported a healthy June quarter. Net profit rose 23.1% year-on-year to Rs.964.6 crore, while revenue was up 17.6% to Rs.1,564.2 crore. Operating profit for the quarter climbed 20% year-on-year to Rs.1,100 crore.
Amid all this, developments across IT, pharma, banking and defence companies will shape how individual stocks move through Tuesday's trade. That said, the direction of global markets, the trajectory of crude oil prices and the geopolitical situation in the Gulf will keep influencing the broader market's sentiment.
