Q1 Earnings, Inflation Data, India-US Trade Talks To Set The Tone For D-Street This Week

The week gone by saw benchmark indices retreat from their recently touched nine-month high levels. The lack of clarity around the much-anticipated India-US trade deal, which was expected to be announced by now, weighed on the markets. Adding to the pressure was a weak start to the first-quarter earnings season (Q1 FY26), which further dampened investor enthusiasm.

The Nifty 50 slipped 311.15 points or 1.22 per cent, to close the week at 25,149.85, and the Sensex lost 932.42 points or 1.12 per cent to close at 82,500.47.

This week, from July 14 to July 18, investors will keep a close watch on a busy lineup of macroeconomic data sets and key global and domestic developments that may dictate market moves.

Stock Market This Week: What To Watch

Q1 Results

Investors will be watching a busy week ahead as several major companies get ready to announce their Q1 FY26 earnings. Last week, Tata Consultancy Services (TCS) posted its results; however, the numbers failed to impress investors and led to a broad sell-off in IT stocks.

This week, heavyweight corporates including Reliance Industries, HCL Technologies, Tech Mahindra, LTIMindtree, Wipro, and Axis Bank are set to report their Q1 results.

In total, around 118 companies are set to announce results this week, including well-known firms such as Jio Financial Services, HDB Financial Services, HDFC Life, HDFC AMC, ICICI Prudential Life, JSW Steel, ITC Hotels, Indian Hotels, Tata Technologies, and Adani Wilmar.

India-US Trade Deal

The long-awaited trade deal between India and the US is still in the works. Back in February, US President Donald Trump and India’s Prime Minister Narendra Modi signaled their intent to strike a deal by the fall of this year.

However, in April, Trump surprised global markets by announcing reciprocal tariffs on multiple countries, including India. Later, to ease tensions, he put those tariffs on hold for 90 days. The initial deadline of July 9 has now been pushed to August 1, giving negotiators more time. While a full agreement is still pending, there are signs that an interim deal may be announced soon.

Any developments in this space, or lack thereof, could impact investor sentiment.

India CPI Inflation Data For June

The Ministry of Statistics and Programme Implementation (MOSPI) will release June’s Consumer Price Index (CPI) inflation numbers on July 14. In May, inflation had come down to 2.82 per cent from 3.16 per cent in April, showing a drop of 34 basis points (bps).

In June, according to a Reuters poll, CPI inflation is expected to ease by another 32 points to 2.50 per cent, mainly on account of easing food prices. MOSPI will also release the Wholesale Price Index (WPI) inflation print of June on the same day.

Other Macroeconomic Data

Meanwhile, investors will also be closely watching US core CPI data for June, which is set to be announced on July 15. China will also be releasing its gross domestic product (GDP) growth data for the April-June period on July 15.