Indian benchmark indices kicked off Tuesday on a high note, as the S&P BSE Sensex climbed 270 points (0.33%) to 82,471, while the NSE Nifty50 advanced 69 points (0.28%) to 25,160 during morning trade. The rally was powered largely by upbeat June quarter earnings from key players, especially Eternal (Zomato), which set the tone for the session.
Eternal (Zomato) Steals the Spotlight
Eternal, notably recognized as Zomato, turned heads on Dalal Street by soaring 11.76% in early trade, and even hit the 10% upper circuit. The jump came on the back of a robust Q1FY26 performance, particularly from its quick commerce arm, Blinkit, which saw a blistering 140% growth in gross order value (GOV) year-on-year. Even more, Blinkit reported a 50 basis point sequential improvement in its adjusted EBITDA margin, signaling a path toward profitability.
What stands out, even more, is that despite a steep 90% year-on-year decline in net profit to Rs 25 crore, Zomato delivered a 70% surge in revenue from operations, touching Rs 7,167 crore in the quarter. It’s a classic growth-over-profits story, typical in fast-scaling tech sectors, with investors clearly nodding in approval.
Broader Markets and International Comparison
Beyond headline indices, the action was relatively muted. The Nifty MidCap index managed a modest 0.13% bump, while SmallCap outperformed with a 0.50% gain. On the Nifty50, market breadth was slightly weak: out of 50 stocks, 20 advanced while 30 declined in early trade.
Globally, the positive tone was echoed across Asia and the US. Korea’s Kospi inched up 0.05%, the ASX 200 rose 0.12%, while Wall Street’s S&P 500 and Nasdaq packed in fresh record closes overnight—thanks to strong intraday momentum.
Meanwhile, market participants are watching Nifty’s option chain ahead of the July 31 expiry. The maximum call open interest sits at the 25,500 strike (60.7 lakh contracts), hinting at where traders see the next major resistance.
With earnings season in full swing and heavyweight tech stocks driving action, investors seem cautiously optimistic. Still, all eyes will be on the follow-through in the coming sessions—especially with more results and macro triggers around the corner.
