# 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.

- Published: 2026-07-16T05:30:33.895Z
- Canonical: https://polylog.news/2026-07-16/indian-stocks-hold-firm-despite-middle-east-conflict-as-lend
- Publisher: Polylog (Global desk)
- Section: markets
- Sources: [Economic Times](https://m.economictimes.com/markets/stocks/news/sensex-rises-200-points-nifty-above-24100-amid-middle-east-jitters-what-lies-ahead/articleshow/132407090.cms), [Economic Times](https://m.economictimes.com/markets/stocks/news/hdb-financial-shares-in-focus-as-q1-profit-jumps-38-on-strong-nii-growth-what-are-nomura-motilal-oswal-saying/articleshow/132428801.cms), [Economic Times](https://m.economictimes.com/markets/stocks/news/groww-shares-rally-9-in-two-sessions-after-strong-q1-results-should-you-buy-sell-or-hold-the-stock/articleshow/132429174.cms)

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](https://m.economictimes.com/markets/stocks/news/sensex-rises-200-points-nifty-above-24100-amid-middle-east-jitters-what-lies-ahead/articleshow/132407090.cms), 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%](https://m.economictimes.com/markets/stocks/news/hdb-financial-shares-in-focus-as-q1-profit-jumps-38-on-strong-nii-growth-what-are-nomura-motilal-oswal-saying/articleshow/132428801.cms), 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](https://m.economictimes.com/markets/stocks/news/groww-shares-rally-9-in-two-sessions-after-strong-q1-results-should-you-buy-sell-or-hold-the-stock/articleshow/132429174.cms) 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.

## 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.