Gift Nifty Signals Positive Gap Up Open on Monday; Q1 Earnings Lift Sentiments
HDFC Sky 1d ago·17 Jul 2026, 11:42 am
Originally published by HDFC Sky. Read on HDFC Sky →
Authored By HDFC SKY | Published at: Jul 17, 2026 05:12 PM IST
Mumbai, July 17: Gift Nifty traded higher through the last session on Friday, potentially indicating a positive gap up open for Nifty 50 when the market opens up trading Monday, July 20 at 9:15 am. The futures contract for July 28, 2026, settled last at 24,374.50, up 25.50 points or 0.1 per cent on the day.
Gift Nifty Intraday Outlook
Gift Nifty’s near-month contract opened Friday’s session at 24,111.00 and traded higher throughout the day, rising to an intraday high of 24,387.50 in the latter hours of trade, after touching a low of 24,075.00 in the early morning session. Last quoted at 24,374.50, within striking distance of the day’s high, Gift Nifty rose 25.50 points or 0.1 per cent on the day. The futures contract for August 25, 2026 traded at 24,370.50, flat on the day.
Resistance now comes in at Friday’s high of 24,387.50, with support at the day’s low of 24,075.00. Nifty 50 is likely to open with a positive bias near the 24,350-24,400 zone Monday morning at 9: 15 am when trading resumes, though any such move stays subdued as traders parse through mixed cues from Q1 earnings and elevated geopolitical risk.
June-Quarter Earnings Season Continues https://hdfcsky.com/stocks/icici-bank-ltd
Investors were kept busy through trade week with June-quarter earnings, with Nifty 50 having already rallied 6.6 per cent for Q1 FY27, erasing the previous quarter’s 14 per cent decline. Software exporter Wipro saw a marginal rise of 0.9 per cent in net profit at Rs 3,325 crore, while Union Bank of India bettered that view with a 27.5 per cent rise in profit to Rs 5,641.52 crore. Friday’s session was bookended by results from Reliance Industries, along with JSW Steel, Tata Technologies, Federal Bank and Havells India, capping off another busy week of results for the Street.
Investors’ attention now turns to Saturday, when results from banking majors HDFC Bank , ICICI Bank , Axis Bank , Kotak Mahindra Bank and Yes Bank will come out. As financial stocks have heavy weightage in the Nifty 50 index, results from these companies could serve as key swing factor for the benchmark index on Monday and may overpower the mildly positive bias from Gift Nifty at the open.
Iran-US Hostilities Resume
US military forces conducted fresh overnight strikes on Iran early Friday morning, with one of the air attacks reportedly hitting a tower at Chabahar port facility. Tehran responded shortly thereafter, with Iran’s Revolutionary Guard Corps saying it struck the US airbase Al Udeid facility in Qatar in retaliation. Shipping activity through the Strait of Hormuz plummeted this week after Washington re-imposed a naval blockade on Iranian ports earlier in the week. Only seven vessels were recorded transiting through the choke point on Wednesday, down from thirteen vessels the day prior. A tentative truce reached between Washington and Tehran last month has now been shattered as Iran and US continue to trade near-daily strikes for over a week now.
Brent crude oil continued its upward march on Friday, rising 2.04 per cent to $85.95 per barrel, currently trading near one-month highs. West Texas Intermediate added 0.96 per cent to $79.71 per barrel. Oil prices have climbed more than 7.6 per cent over the last month as tensions around Strait of Hormuz threaten supply lines. Approximately one-fifth of all oil and gas shipments worldwide pass through the Strait of Hormuz, leaving traders nervous about the risk of further attacks this weekend and subsequent disruption to oil supplies.
This post-Gift Nifty Outlook Could Change if…
Any market moving developments break over the weekend. A further escalation of violence in the Middle East, a significant move in crude prices or a surprise catalysed by Monday’s bank results could change our view on Nifty 50 on Monday. If macroeconomic and geopolitical headlines remain quiet over the weekend, this call for a mildly positive open could hold true.
Sector: Banking and Finance
By signing up I certify terms, conditions & privacy policy
Key takeaways
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
