Verizon's wireline business, which includes selling to business customers, has been a drag on its revenue for several years.

"The reason the market saw no panic selling is there is low trader interest and positioning in these stocks, in the segment," said Rohit Srivastava, Founder, Indiacharts.com. "IT is going to do better backed by a good global tech environment and strong NASDAQ, and will continue to pick up."

HCL Technologies expects the deal to have a positive revenue impact over the next six years, beginning November 2023

JPMorgan maintained an underweight rating on TCS with a target price of Rs 2650. The IT company announced a large deal win from JLR worth $1bn TCV over five years.

From the Sensex stocks, ICICI Bank, Maruti, HCL Tech, Wipro, HUL, and Reliance Industries opened in the red, whereas Sun Pharma, NTPC, Power Grid, Titan, Bajaj Finserv, and Nestle opened higher.

"HCLTech is pleased to announce the signing of a new mega deal with a Global 100 corporation today. We expect this deal to have a positive revenue impact over the next six years beginning in November 2023 with an estimated new total contract value of US$ 2.1 billion over the term," the company said in an exchange filing.

After the RBI policy announcement, the banking sector has witnessed significant selling pressure, leading to a decline in the Bank Nifty index. Fresh short positions have been observed in the F&O data, indicating a bearish sentiment among traders

For the week, the Sensex shed 0.6 percent and the Nifty 0.45 percent

Global space technology veteran and investor Candace Johnson on Saturday said there is an expectation from Chandrayaan-3 Pragyan rover to show if there is ice on the south pole of the Moon. Speaking at the B20 Summit India organised by CII, Johnson said India's space mission is not just inspiring its own youth but also the youth worldwide.

HCL Technologies expects the deal to have a positive revenue impact over the next six years, beginning November 2023

The US inflation rate for June came in lower than expected at 3%, the smallest year-over-year increase in two years. Meanwhile, retail inflation in India for June rose to 4.81%, after easing for four months in a row, as food prices surged, according to official data released post-market hours on Wednesday.

SBI has actually broken down. It should not have traded below 563 and it has traded below it. And it was pretty obvious to me that the move from the March lows was only a corrective move.

E2E Networks, Tokyo Plast Int, Newgen Software, Indian Hume Pipe and Premier Exp, hit their fresh 52-week highs at 10:51AM.

The number of active clients at Indias fourth-largest IT services firm declined by 35 sequentially to 1,444 for the period ended June, Chief Executive Thierry Delaporte told ET in a recent interview.

Domestic brokerage Motilal expects Nifty earnings to grow 25% YoY in Q1. Oil and gas sector may report a 3x surge in profit YoY underpinned by the improvement in marketing margins of OMCs. Auto sectors earnings may surge 11x YoY during the quarter on a low base.

The NSE Nifty index was trading 135.65 points up at 19491.55

Excluding financials and commodity, combined revenue, EBITDA and profit after tax (PAT) growth reported by these Nifty50 companies stood at 11%, 11% and 12% YoY, respectively, in 1QFY24. While revenue estimates are in line with Antique's expectation, EBITDA and PAT have missed estimates by 3% and 4%, respectively.

The BSE Sensex was trading 232 points or 0.37% higher at 63,202. Nifty50 was trading at 18,758, up 67 points or 0.36% at around 9.18 am.

The NSE Nifty index was trading 53.15 points up at 19466.9

Nifty stays range-bound for sixth straight session. Eight of the 13 major sectoral indices logged gains, with auto and fast moving consumer goods (FMCG) indices adding over 1.2% each after several brokerages, including HSBC, Citi and Jefferies, reiterated their bullish outlook on earnings growth in the sectors.

As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables.

However, a non-stop rally of 900 points from 18600 level and a PCR ratio of around 1.50 suggest a slightly overbought condition for the market. The immediate resistance is visible at 19500; a failure to move above 19500 on a sustained basis might call for profit booking in the market.

"Despite this short-term profit booking, the broader picture reveals that the medium to long-term trend remains bullish. Hence, any minor price corrections should be seen as a buying opportunity for traders. The buying momentum is expected to continue to propel the index towards the 19800-20000 levels in the upcoming weeks."

​Nifty has reached closer to its record high after three months of gradual recovery and is currently hovering in a range. We are now at a critical juncture and eyeing 18,600 as a make-or-break level.

June quarter earnings of domestic IT companies are expected to be soft, but a revival is anticipated in the second half of FY24, according to ICICI Securities. The brokerage remains optimistic on the prospects of Infosys, Persistent Systems, and Tata Consultancy Services (TCS), recommending a 'buy' and upgrading HCL Technologies to 'add'. LTIMindtree, Happiest Minds, and Tech Mahindra have been downgraded. ICICI Securities expects a resilient tech spend demand over the medium-to-long term, with triggers for growth including healthy guidance from SaaS players and a stable or growing deal pipeline. Risks include potential negative impacts of Generative AI on pricing and margins.

After consecutive gains, equity markets closed in the negative zone due to cautiousness in global markets. Despite this, Sensex reached an all-time high level. Thirty-seven small-cap stocks delivered double-digit returns during the week, and two mid-cap stocks delivered double-digit returns. Almost all indices ended in the red, with metal and commodity stocks bleeding the most. Analysts predict that the market will consolidate in the near term, and investors should use corrections to buy. Technically, there is weakness in the Nifty index, but new highs are expected to come in time.

Morgan Stanley maintained an overweight rating on IndusInd Bank with a target price of Rs 1725. The global investment bank believes that the share price will rise relative to the industry over the next 30 days.

The NSE Nifty index closed 150.75 points up at 19564.5

The Sensex rallied by around 670 points on Thursday to reach a fresh peak of over 66,000, while Nifty also reached an all-time high of over 19,500, driven by moderating US inflation data and strong performance by the IT sector. Despite TCS's Q1 earnings miss, its shares rose over 3%, with TCS, Persistent, Infosys and Coforge trading around 3% higher.

Several stocks from the S&P BSE100 index, including Dr Reddy's Labs and Maruti Suzuki, reached new 52-week highs today, reflecting a strong market sentiment. Other companies such as Godrej Consumer Products, HCL Technologies, IndiGo, IndusInd Bank, Larsen & Toubro, Lupin, and Mahindra & Mahindra also experienced upward surges in their stock prices. This indicates positive investor sentiment and confidence in the growth prospects of these companies. The data sourced from BSE at 1:15 pm may come with a lag, and the information provided is specific to that time.

IT giants TCS and HCL Tech are scheduled to announce their June quarter numbers post-market hours. Investors would also be tracking the CPI number for June which is due today.

Aviation watchdog DGCA has put SpiceJet under "enhanced surveillance" amid the budget airline facing multiple financial headwinds in recent months, PTI reported, but the carrier refuted any such development.

The NSE Nifty index closed 83.5 points up at 19439.4

From the Sensex pack, Tata Motors, SBI, Bajaj Finance, Bajaj Finserv, Infosys, Titan, and ITC opened with gains, while Power Grid, Kotak Mahindra Bank, Axis Bank, Tech Mahindra, NPTC and HCL Tech opened in the red.

The NSE Nifty index closed 24.1 points up at 19355.9

In the Sensex pack, Reliance Industries and Tata Steel were the top gainers, rising over 3% each. Bharti Airtel, Sun Pharma, IndusInd Bank, Kotak Bank, and ICICI Bank also ended higher. On the flip side, HCL Tech, Titan, Power Grid, Wipro, TCS, HUL, and Axis Bank closed in the red.

Most money managers believe that the current rally in the Indian stock market has more legs as valuations are reasonable. Axis Securities and Motilal Oswal Securities favour the "growth at a reasonable price" theme and domestic-oriented companies. ICICI Bank, Maruti Suzuki, State Bank of India, RITES, Federal Bank, Varun Beverages, Ashok Leyland, PNC Infratech, ITC, Aarti Drugs, Relaxo Footwears, Mahindra CIE, Praj Industries, CCL Products, Polycab India, and CreditAccess Grameen are among their top picks. Experts expect the market positioning to shift to banks and domestic-cyclical stocks as more than half of the sectors still trade at a discount to their average.

The June quarter earnings for the information technology (IT) sector are expected to be weak due to a slowdown in discretionary spending. Factors such as scaled-down budgets, lack of operating leverage, higher costs, transition costs, and pricing pressures are expected to weigh on earnings. IT companies are projected to report a 5.3% YoY revenue growth for the quarter, with a mere 0.4% sequential growth. Analysts also anticipate major IT players like Infosys and HCL Technologies to lower their sales growth outlook for FY24.

From the Sensex pack, Tata Motors, SBI, Power Grid, Tata Steel, Infosys, and UltraTech Cement closed in the red, while IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Tech, and HDFC closed higher.

Given the benchmark index's breakout, it is advisable to consider initiating small new positions in individual stocks. It is recommended to accumulate further at lower levels if the Nifty retraces back to 18,880 levels

HCL Tech will focus on automating the public cloud environment while adhering to Siemens’ high security standards, it said in an exchange filing

Mutual funds have bought shares in Infosys, with ICICI Prudential AMC purchasing Cognizant Technology Solutions, Aditya Birla Sun Life AMC purchasing Wipro, and Mirae Asset Management buying Coforge last month. Although the mutual funds were inclined to overweight on the IT sector, risks of further earnings downgrades remain. While some investors argue that a slowdown is already priced into the shares, a weak earnings outlook from US major Accenture Plc persists, which quoted challenging global macroenvironment, clients curbing discretionary spending, and reduced annual growth guidance for the second time.

Indias IT stocks are being shunned by institutional investors despite the fact some are up to 25% below their 52-week peak levels. The Nifty IT Index is still trading at a 10% premium compared to its 10-year average valuations, with the likes of IT giants TCS, Infosys, HCL Tech, Wipro and Tech Mahindra still trading above pre-Covid valuation levels. Midcap IT stocks are trading at a 25% premium compared to large caps. Hemant Kapasi, head of equities at Sanctum Wealth, said the IT industry may experience a time correction over the next few quarters rather than a significant correction in valuations.