Q1 results FY27 to US-Iran war: Top five triggers that may dictate the Indian stock market this week

Indian stock market: The Indian stock market ended sharply higher on Friday, July 10, with broad-based buying lifting benchmark indices by over 1% each, while mid- and small-cap stocks outperformed amid supportive global cues.

The rally marked the second straight session of gains, with the Sensex surging 828 points, or 1.08%, to close at 77,569.39. The Nifty 50 also advanced 244 points, or 1.02%, to settle at 24,206.90.

According to Ponmudi R, CEO - Enrich Money, investor attention in the week ahead is expected to remain firmly focused on the ongoing negotiations between the United States and Iran, as markets closely monitor developments following the recent escalation in geopolitical tensions.

"Although diplomatic efforts continue, uncertainty remains elevated after the latest military strikes, keeping investors cautious. Any meaningful progress in the negotiations could improve global risk sentiment and support financial markets, while any further escalation or breakdown in talks could heighten volatility and weigh on investor confidence.

On the domestic front, investor focus will increasingly shift to the first-quarter earnings season, with the technology sector expected to remain in the spotlight following Tata Consultancy Services' better-than-expected results. Attention will now turn to another IT heavyweight, HCL Technologies, which is scheduled to announce its quarterly earnings on Monday, July 13," said Ponmudi.

The earnings season has officially begun, with Tata Consultancy Services (TCS) becoming one of the first companies to announce its June quarter earnings.

Nearly 100 companies are set to report their financial results for the quarter ended June 30, 2026. Major firms such as HCL Tech, Groww, Wipro, and Jio Financial Services are among the prominent names slated to announce their Q1 FY27 earnings next week.

“The Q1 FY27 earnings season will gather pace, with management commentary expected to play a pivotal role in shaping sectoral trends and earnings expectations,” said Ajit Mishra – SVP, Research, Religare Broking.

The United States carried out its third round of strikes on Iran this week after Tehran announced the closure of the Strait of Hormuz "until further notice."

According to the US Central Command, President Donald Trump authorised the latest strikes, which were aimed at curbing Iran's capability to target commercial shipping, following an attack by Iranian forces on a Cyprus-flagged container vessel.

Iranian state media reported explosions across several locations along the country's southern coastline, including the key energy and petrochemical centres of Bushehr and Asalouyeh. Explosions were also reported in the port cities of Bandar Abbas and Bandar-e Dayyer, as well as in the Sirik region near the Strait of Hormuz.

Iranian Foreign Minister Abbas Araghchi arrived in Oman on Saturday for discussions on the future of the Strait of Hormuz, though there were no indications that senior US officials would participate.

Earlier, Iran insisted that the United States fulfill key commitments under a recent agreement before any further negotiations, dismissing President Donald Trump's claim that talks could proceed without a ceasefire. Tehran said Washington must satisfy its conditions for addressing transit through the Strait of Hormuz and restoring normal oil exports.

Oil prices declined after indications emerged that the US and Iran are likely to continue diplomatic talks despite renewed attacks that tested their ceasefire and disrupted tanker movement through the Strait of Hormuz.

US benchmark West Texas Intermediate (WTI) crude dropped 0.9% to settle at around $71 per barrel, though it still posted a weekly gain of about 4%. Brent crude also ended lower, settling near $76 per barrel.