Dalal Street gains for the second straight week to post its biggest weekly gains in three months. All front line indices gain about 2% with IT stocks leading the upmove. Energized by encouraging corporate updates and rising optimism ahead of the Q2FY26 earnings season, the market witnessed a strong upswing. Supportive global cues and improved investor confidence further fueled the rally. Broader indices joined the momentum, with mid-caps posting notable gains, while small-caps largely traded sideways.
Equity markets witnessed a strong uptrend through most of the week, driven by upbeat corporate updates and positive macro cues. The Sensex and Nifty gained over 2% across four sessions, supported by the RBI’s improved GDP outlook and lower inflation forecast. After a brief pause on Wednesday amid caution ahead of Q2 results, indices rebounded sharply on Thursday as optimism grew around TCS’s earnings and to say, it delivered earnings ahead of estimates, with the Sensex closing above 82,100 and Nifty near 25,200.
On Friday, Nifty index opened flattish and witnessed a spurt in the first half of the session. It faced some consolidation for the rest of the session but managed to touch an intraday high of 25330 zones. It maintained a bullish undertone throughout the session and respected the base of 25150 zones. It formed a bullish candle won daily frame and closed with gains of around 100 points. It formed a strong bullish candle on the weekly frame and closed near its higher band. Now it has to hold above 252200 zones for an up move towards 25450 then 25600 zones while supports can be seen at 25150 then 25000 zones.
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On option front, Maximum Call OI is at 25400 then 25500 strike while Maximum Put OI is at 25200 then 25300 strike. Call writing is seen at 25450 then 25300 strike while Put writing is seen at 25300 then 25250 strike. Option data suggests a broader trading range in between 24800 to 25800 zones while an immediate range between 25100 to 25500 levels.
S&P BSE Sensex index opened on a flattish note and witnessed a quick up move during the initial hours of the session. Post that, the index traded in a narrow range of nearly 250 points for the rest of the day. On the smaller time frame, the index gave a pole and flag breakout and managed to hold its gains near the upper band. For the week, it rallied over 1200 points, recovering most of the losses from the previous week. On the weekly chart, it formed a bullish candle along with higher highs formation, indicating sustained buying interest and a positive undertone for the near terms. Now it has to hold above 82300 zones for an up move towards 82800 then 83200 zones while on the downside support is shifting higher at 82300 then 82000 levels.
Bank Nifty index opened on a flattish note but gradually extended the gains towards 56750 zones in the latter part of the session. It formed a big bullish candle on daily scale as buying interest was visible at lower levels and closes with gains of around 420 points near 56600 zones. On weekly scale as well it formed a bullish candle and gave a range breakout after seven weeks as bulls are holding tight grip at higher zones. Now it has to hold above 56500 zones for an up move towards 57000 then 57250 zones while on the downside support is seen at 56500 then 56250 levels.
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Nifty future closed positive with gains of 0.56% at 25415 levels. Positive setup seen in PG Electroplast, Divis Lab, Cipla, CDSL, BSE, INOX Wind, Syngene, Dixon, DLF and PNB while weakness in UNO Minda, Jindal steel, ICICI GI , Naukri, RVNL, Siemens, KPIT Tech, HDFC Life and Tata Motors.
Crude and FII Flows
Brent Crude Oil Prices declined to $65/bbl on account of cautious optimism about easing tensions in the Middle East and the outlook for supply. On the other hand, FIIs turned Net Buyers for the week.
Sector in Focus
IT, Services & Realty remained in focus during the week.
Stocks That Remained in Focus During The Week
NTPC:
NTPC and the Government of Gujarat signed a Memorandum of Understanding (MoU) during the Vibrant Gujarat Regional Conference held in Mehsana, Gujarat. The MoU aims to explore opportunities in both conventional and non-conventional energy sectors.
With a diverse portfolio of thermal, hydro, solar and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation. Along with power generation, NTPC has ventured into various new business areas, including e-mobility, battery storage, pumped hydro storage, waste-to-energy, nuclear power and green hydrogen solutions for a greener future.
NATCO Pharma:
Natco Pharma gets go-ahead to launch Risdiplam; Delhi High Court’s Commercial Appellate Division Dismisses Appeal Filed By Swiss Pharma Co clears legal proceedings to Launch its Generic Version Of Risdiplam In India. Company to launch risdiplam at Rs 15,900. Risdiplam is used for the treatment of spinal muscular atrophy. The Company also intends to offer some discount to certain deserving patients through its patient access programme.
Tata Consultancy Services:
TCS has acquired 100% stake in ListEngage, a top Salesforce Summit partner, to strengthen its Salesforce capabilities across Marketing Cloud, CRM, and AI services. The deal adds 100+ certified professionals to TCS’ U.S. Enterprise Solutions unit. This move aligns with TCS’ strategy to boost growth in AI, Cloud, Cybersecurity, and Digital Engineering through targeted acquisitions.
PVR INOX:
PVR INOX has launched India’s first dine-in cinema at M5 ECity Mall, Bengaluru, blending blockbuster movies with gourmet in-seat dining. This unique format offers chef-curated meals without needing a movie ticket, turning the cinema into a full lifestyle experience. Guests can enjoy premium F&B brands in a luxury setting.
HFCL:
The company has secured export orders worth ~USD 34.19 million (equivalent to ~Rs 303.35 crore), for the supply of optical fiber cables, through its overseas wholly owned subsidiary, from a renowned international customer. The timeline to complete the order is by April 2026. These significant orders reaffirm the trust global customers place in the Company’s manufacturing capabilities, technological excellence and product quality.
Prestige Estates:
Prestige Estates posted record H1FY26 performance with sales of ₹18,143 crore, up 157% YoY—already surpassing FY25 full-year sales. Q2FY26 sales rose 50% YoY to ₹6,017 crore, with 4.42 mn sq. ft. sold. Realizations improved across apartments and plots, while H1 collections jumped 55% YoY to ₹8,735 crore, driven by strong, diversified demand across key markets.
Godrej Consumer:
The recent GST reforms reducing rates to 5% for about one-third of GCPL’s portfolio are expected to boost consumer demand and support volume-led growth. While short-term trade adjustments have impacted near-term growth and profitability, the company expects mid-single digit value growth in India. Home Care continues to perform strongly, while Personal Care faces temporary softness. Internationally, Indonesia sees pricing pressure, but GAUM (Godrej Africa, USA, and Middle East) is set for double-digit growth. Consolidated revenue is expected to rise mid-single digit, with profitability improving in H2.
Keystone Realtors:
The company has shared its business updates wherein they stated that the Pre-sales rose 9% YoY to Rs 7.63 bn in Q2FY26 and 40% YoY to Rs 18.31 bn in H1FY26, achieving 46% of full-year guidance. Collections grew 9% YoY in Q2FY26 to Rs 6.01 bn and 13% YoY in H1FY26 to Rs 11.77 bn. The company launched one project in Q2 and four in H1FY26, achieving 70% of the annual launch target. Additionally, three redevelopment projects with a GDV of Rs 77.27 bn were added, surpassing the full-year business development guidance.
Titan:
The domestic jewellery business grew 19% YoY in Q2FY26, led by higher ticket sizes and festive demand, with studded jewellery outperforming gold. Watches grew 12%, driven by analogs, while smart wearables declined. EyeCare rose 9%, and emerging segments like fragrances (+48%) and women’s bags (+90%) saw strong growth. International business surged 86%, led by Tanishq’s US sales doubling and strong GCC performance.
Jana Small Finance Bank:
The bank announced board approval to raise capital through Non-Convertible Debentures (NCDs) of up to ₹250 crore. The unsecured, subordinated NCDs, classified as Lower Tier II Capital under Basel II norms, will be issued via private placement and listed on BSE. Tenure, coupon, and maturity details will be decided by the board, with no special rights or charges on assets.
