Top Gainers & Losers on 16 July: ABB India, Jindal Saw, Kaynes Tech, IIFL Finance, SRF, among top gainers

The Indian stock market remained range-bound for the second straight session on Thursday, July 16, as escalating tensions in the Middle East, persistent weakness in the Indian rupee, and elevated crude oil prices kept investor sentiment cautious.

Traders also appeared to adopt a measured approach as they awaited more June-quarter earnings for cues before making broad-based buying decisions.

Both the Nifty 50 and the Sensex ended largely unchanged, while the broader markets closed with modest losses.

Sectoral performance remained mixed. Nifty Consumer Durables emerged as the top gainer, rising 1.60%, followed by Nifty Chemicals, Nifty Media, Nifty IT, and Nifty Auto, which gained between 0.46% and 1.40%.

On the losing side, Nifty Realty was the worst performer, declining nearly 1%, while Nifty PSU Bank and Nifty Metal ended lower by 0.46% and 0.37%, respectively.

Tensions in the Middle East escalated further after the United States carried out fresh strikes on Iranian missile storage facilities and launch sites near the strategic Strait of Hormuz. US forces also reportedly fired on a vessel accused of attempting to breach Washington's naval blockade on Iran.

Iran retaliated with missile and drone attacks targeting US allies in the region and warned that its military response could intensify.

The continued exchange of strikes between the US and Iran, coupled with renewed threats to the Strait of Hormuz, has effectively derailed the interim truce and raised fears that the conflict could escalate into a broader regional war.

Meanwhile, the Indian rupee hovered around 96.2 per US dollar, remaining under pressure after slipping to an eight-week low amid rising crude oil prices. The domestic currency has weakened about 1.7% so far this month, moving closer to the record low it touched in May.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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