Welspun Corp up 23% leads Nifty 500 gainers despite weak market sentiment

Other stocks finishing the week with gains above 10% included Aegis Logistics, Netweb Technologies, Ipca Laboratories, Prime Focus, Leela Palaces Hotels, Urban Company, and CarTrade Tech. These gains occurred even as the Nifty 50 extended its losing streak to seven straight sessions through Wednesday, the longest daily decline run in 11 months.

Market pressure persisted due to rising crude oil prices, which hit a one-month high amid Middle East tensions and expected U.S. sanctions on Iran. Global bond yields climbed to multi-decade highs as investors demanded higher compensation for inflation and debt risks. With India importing around 85% of its crude oil, the economy remains sensitive to energy price swings.

Analysts noted that despite better-than-expected June-quarter earnings, domestic investors shifted toward mid- and small-cap funds, as shown in July mutual fund data. Religare Broking’s SVP of Research, Ajit Mishra, said near-term volatility is likely to continue due to geopolitical uncertainty, elevated oil prices, and global bond yields.

He advised a selective investment approach, favouring companies with strong earnings visibility, healthy balance sheets, sustainable cash flows, and improving relative strength. Sectors such as banking, financial services, infrastructure, capital goods, defence, metals, and select healthcare were seen as relatively better positioned, while caution was urged in areas vulnerable to crude price swings and global demand shifts.

Enrich Money’s CEO, Ponmudi R., echoed that the interplay between crude oil, U.S. Treasury yields, and the dollar will remain critical, along with rupee movement and institutional flows. With the June-quarter earnings season largely concluded, global macroeconomic and geopolitical factors are expected to drive near-term market direction.