Investors will continue to monitor developments in the US-Iran conflict, movements in crude oil prices, the ongoing Q1 earnings season, corporate business updates, and the progress of the southwest monsoon for further cues on market direction.

IT, private bank and auto shares advanced while pharma, media and metal shares declined.

At 13:25 IST, the S&P BSE Sensex advanced 762.69 points or 0.99% to 77,949.56. The Nifty 50 index added 190.45 points or 0.79% to 24,263.20.

In the broader market, the BSE 150 MidCap Index fell 0.55% and the BSE 250 SmallCap Index fell 1.16%.

The market breadth was strong. On the BSE, 1,489 shares rose and 2,556 shares fell. A total of 191 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.58% to 13.22.

In the commodities market, Brent crude for September 2026 settlement added 22 cents or 0.26% to $84.45 a barrel.

Gainers & Losers:

Jio Financial Services (up 3.69%), Tech Mahidnra (up 3.31%), Tata Consultnacy Services (TCS) (up 3.09%), HCL Technologies (up 2.62%) and Kotak Mahindra Bank (up 2.40%) were the major Nifty50 gainers.

Dr Reddys Laboratories (down 1.58%), Wipro (down 1.42%), Cipla (down 1.31%), Hindalco Inustries (down 1.26%) and Apollo Hopsitals Enterprise (down 0.89%) were the major Nifty50 losers.

Jio Financial Services added 3.69% after the company's consolidated net profit jumped to Rs 830 crore in Q1 FY27 from Rs 325 crore in Q1 FY26, thereby registering a growth of 156% on year-on-year (YoY) basis.

Tech Mahindra jumped 3.31% after the company reported a steady performance for the quarter ended 30 June 2026, supported by strong deal momentum and margin expansion. On a consolidated basis, profit after tax (PAT) rose 28.45% year on year (YoY) to Rs 1,465.1 crore in Q1 FY27 from Rs 1,140.6 crore in Q1 FY26. On a sequential basis, PAT increased 8.22% from Rs 1,353.8 crore in Q4 FY26.

Wipro fell 1.42% after the company reported a 4.69% decline in consolidated net profit to Rs 3,356.3 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 3,521.6 crore posted in Q4 FY26. Revenue from operations rose 1% QoQ to Rs 24,478.6 crore in the quarter ended 30 June 2026.

Stocks in Spotlight:

CEAT tumbled 6.95% after the company reported a 96.43% year-on-year decline in consolidated net profit to Rs 4 crore in Q1 FY27, compared with Rs 112 crore in Q1 FY26. Revenue from operations rose 22.36% year on year to Rs 4,318 crore in the first quarter of FY27 from Rs 3,529 crore a year earlier.

WeWork India Management fell 5.24% after the company reported a consolidated net loss for the June 2026 quarter. The company's net loss narrowed to Rs 4.31 crore in Q1 FY27 from a loss of Rs 14.10 crore in Q1 FY26. However, on a sequential basis, it slipped into a loss from a profit of Rs 65.55 crore reported in Q4 FY26. Revenue from operations increased 27.74% YoY but declined 1.76% QoQ to Rs 683.83 crore in the June 2026 quarter.

Indobell Insulations surged 10.40% after the company announced that it had secured four domestic orders worth a combined Rs 14.75 crore from Sundaram Brake Linings for the supply of nodulated wool and ceramic fibre nodules.

Polycab India declined 3.76%. The company reported 33% rise in consolidated net profit to Rs 7,96.7 crore on a 39% increase in revenue to Rs 8,209.7 crore in Q1 FY27 as compared with Q1 FY26.

Time Technoplast rose 1.38% after the company secured an order worth approximately Rs 38.14 crore from Hindustan Petroleum Corporation (HPCL) for the supply of 1.40 lakh 10-kg Type IV Composite LPG Cylinders. The order was awarded through the Government e-Marketplace (GeM) and is scheduled to be executed within six months, the company said.

Global Market:

European market mostly declined as the escalating US-Iran conflict weighed on investor sentiment, with weakness across Asian markets further reinforcing the risk-off environment.

Asian markets traded lower on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew.

Investors this week reportedly rotated out of semiconductor plays into other sectors such as banking after robust earnings from major lenders, leaving Asia vulnerable to the selloff given its heavier exposure to chips.

Markets in South Korea were closed for a holiday, after the government on Thursday announced it will temporarily ban new listings of exchange-traded funds (ETFs) that are tied ⁠to certain major technology firms, while raising minimum required deposits for retail investors to invest in such products, in an effort to curb volatility.

The U.S. began conducting a new wave of strikes against Iran on Thursday to further degrade Iranian military capabilities, the U.S. Central Command said in a statement.

Overnight on Wall Street, chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season.

The Dow Jones Industrial Average (DJI) fell 105.32 points, or 0.20%, to 52,553.32, the S&P 500 (SPX) lost 38.63 points, or 0.51%, to 7,533.77 and the Nasdaq Composite (IXIC) lost 387.28 points, or 1.47%, to 25,881.95.

On the data front, a spate of U.S. economic indicators released on Thursday showed solid core retail sales, a drop in jobless claims ⁠and surging manufacturing activity in the Northeast.

Less positive data came from the housing sector, with a bigger than expected drop in pending home sales and souring homebuilder sentiment reflecting high borrowing costs and strained affordability for would-be homebuyers.

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