Morning Edition · Thursday, July 16, 2026Published at 1:30 AM EDT · New York
Indian Stocks Hold Firm Despite Middle East Conflict as Lenders Post Strong Earnings
The Sensex rose about 200 points and the Nifty held above 24,100, with HDB Financial and the parent of Groww rising on quarterly profit gains.
Indian equities stayed resilient even as the conflict in the Middle East unsettled global markets. The Sensex rose about 200 points and the Nifty held above 24,100, the Economic Times reported, with information-technology shares rising and some bank stocks falling. The rupee held steady.
Earnings supported the gains. HDB Financial Services shares rose about 5% after quarterly profit climbed 38%, with net interest income, the gap between what a lender earns on loans and pays on deposits, up 20%. Analysts at Nomura and Motilal Oswal kept neutral ratings, citing steady rather than accelerating growth.
Billionbrains Garage Ventures, the parent of the brokerage Groww, gained about 9% over two sessions after reporting a 94% year-on-year rise in quarterly net profit to 735 crore rupees and a 66% rise in revenue to 1,504 crore rupees.
Part of a tracked trend
India's Domestic Market Absorbs Shocks
India's domestic-demand-led equity market and financial-sector earnings repeatedly cushion it from external oil and rate shocks, drawing flows seeking growth insulated from global stress.
What this means
India's large domestic-demand market and strong financial-sector earnings are insulating its equities from the oil-price risk that a Middle East conflict poses to import-dependent economies. Domestic lenders and brokerages benefiting from rising credit and retail participation gain, but a sustained jump in crude would pressure the rupee and India's import bill, the main channel through which the conflict could reach these shares.
What to watch
- The rupee and India's oil-import bill, the clearest way a sharp rise in oil prices linked to Hormuz would reach local markets.
- Whether banking earnings keep pace with information-technology gains, which would confirm broad rather than narrow market strength.
Observations to monitor, not financial advice.
Synthesized from: Economic Times · Economic Times · Economic Times
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