Prime Minister Anutin Charnvirakul met with over 40 European companies to enhance trade and investment ties, emphasizing Thailand’s commitment to digital infrastructure and positioning as an industrial hub while pursuing the Thailand-EU Free Trade Agreement.

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Key Points

• Meeting Overview: Prime Minister Anutin Charnvirakul met over 40 European company executives at Government House on July 16, discussing trade and investment within the EU-ASEAN Business Council framework. The dialogue underscored Europe’s importance as a key economic partner for Thailand.
• Government Priorities: Anutin highlighted plans to enhance digital infrastructure, AI, clean energy, and transportation networks while improving the investment climate through the Thailand FastPass program and pursuing the Thailand-EU Free Trade Agreement (FTA).
• European Business Perspectives: European representatives affirmed Thailand’s appeal as an investment destination due to its strategic location and skilled workforce. They advocated for closer cooperation in various sectors and supported Thailand’s OECD membership and the FTA, alongside the government’s initiative to reform outdated regulations.

Prime Minister Anutin Charnvirakul met with executives from more than 40 European companies on July 16 at Government House during a meeting with the EU-ASEAN Business Council and the European Association for Business and Commerce. The discussions covered trade, investment, and broader economic cooperation between Thailand and the European Union.

Anutin said Europe remains one of Thailand’s key economic partners and that continued investment by leading European companies reflects confidence in the country’s long-term potential. He outlined the government’s priorities of expanding digital infrastructure, artificial intelligence, clean energy, transportation networks, and logistics, while improving the investment climate through the Thailand FastPass program, OECD accession, and progress toward the Thailand-EU Free Trade Agreement.

The prime minister also said the government is working to position Thailand as a regional hub for industries including semiconductors, digital technology, clean energy, life sciences, modern agriculture, and food production. He added that concluding the Thailand-EU FTA would expand market access for Thai products and create new opportunities for businesses.

Representatives of the European business community said Thailand remains an attractive investment destination because of its strategic location, manufacturing base, and skilled workforce. They also expressed support for Thailand’s OECD membership and the Thailand-EU FTA while proposing closer cooperation in manufacturing, healthcare, food, finance, and the digital economy. The government also reaffirmed plans to simplify business procedures by updating more than 7,000 outdated laws and regulations.

Source : Thai PM Welcomes European Executives to Advance Thailand-EU FTA

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As many as 256 companies are set to announce their earnings for the April-June quarter (Q1 FY27) this week, with notable names including IT major Infosys, food delivery and quick commerce giant Eternal, and two-wheeler maker Bajaj Auto.

The Q1 earnings season kicked off earlier this month with IT services major Tata Consultancy Services (TCS) reporting its results. On Friday, leading private sector lenders HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank also announced their June-quarter earnings.

July 20 (Monday)

UltraTech Cement is set to report its Q1 FY27 results on Monday. Paytm and Indian Overseas Bank will also announce their June-quarter earnings, along with Karur Vysya Bank, Shyam Metalics and Sobha.

July 21 (Tuesday)

Several major companies are scheduled to announce their Q1 results on Tuesday, including Bajaj Auto, Adani Energy Solutions, TVS Motor Company, Indian Hotels Company, JSW Infrastructure, Adani Gas, Mahindra & Mahindra Financial Services and Anthem Biosciences.
July 22 (Wednesday)Quick commerce and food delivery major Eternal will report its June-quarter earnings on Wednesday. FMCG giant Nestlé India will also announce its results. Other key companies on the earnings calendar include Adani Power, Adani Green Energy, BPCL, Oracle Financial Services Software, Dr. Reddy’s Laboratories and United Spirits.

July 23 (Thursday)

IT services major Infosys will announce its June-quarter earnings on Thursday. Other companies reporting results include IndiGo, Cipla, Motilal Oswal Financial Services, Mphasis, Sona BLW Precision Forgings, Go Digit General Insurance and Chennai Petroleum Corporation.

July 24 (Friday)

Shriram Finance, CG Power, Bank of Baroda, Jindal Steel & Power (JSPL), Laurus Labs, Apar Industries, Welspun Corp and Container Corporation of India (CONCOR), among others, will announce their April–June quarter (Q1 FY27) results.

Market outlook

Vinod Nair, Head of Research at Geojit Investments, said market sentiment continues to be supported by encouraging Q1 FY27 business updates and growing optimism over a healthy earnings season.

Meanwhile, Goldman Sachs expects the Nifty 50 to rebound to 26,500 by June 2027, above its current record high of 26,373, as it turns more constructive on India amid an improving macroeconomic backdrop.

Looking ahead, Nair said global investors will closely track Japan’s inflation data for clues on the future path of interest rates, while India’s PMI readings will provide fresh insights into economic activity and business confidence.

He added that corrections in select Asian markets amid concerns over elevated AI-driven valuations could enhance India’s relative attractiveness among emerging markets. Supported by strong macroeconomic fundamentals, resilient domestic demand and a diversified growth profile, India remains well positioned to attract long-term capital inflows.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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1. SpaceX is in talks with the Defense Department about providing the agency with access to data-center capacity for running AI models.

They’re discussing an arrangement in which Elon Musk’s company would provide computing capacity at a cost of up to several billion dollars, people familiar with the matter said. SpaceX signed similar deals with Anthropic and Google in recent months and is planning to greatly expand its cloud-computing efforts, people familiar with those plans said. The Pentagon relies on SpaceX for launching rockets and managing satellites for communications and missile tracking.

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Dalal Street closed the week on a high, with the benchmark Sensex and Nifty climbing more than 1% on Friday. Analysts expect a host of domestic and global cues to steer market sentiment this week.

For the week, the Sensex rose over 582 points, or 0.75%, while the Nifty 50 gained more than 127 points to settle at 24,334.

Friday’s rally was led by Tech Mahindra, Kotak Mahindra Bank, TCS, Reliance Industries, ICICI Bank, Hindustan Unilever, Mahindra & Mahindra, Axis Bank, Bajaj Finance, HDFC Bank, and Infosys, with these stocks advancing 1-4%. In contrast, Sun Pharma, Trent, Bharti Airtel, and UltraTech Cement slipped around 1% each.

Here are six key factors likely to steer the stock market this week:

Q1 earnings

The June-quarter earnings season will gather pace in the coming week, with 256 companies set to announce their Q1 results. Key companies on the earnings calendar include Paytm, Bajaj Auto, TVS Motor, Adani Power, BPCL, Eternal, IndusInd Bank, HPCL, UltraTech Cement, Infosys and Bank of Baroda.
According to Vinod Nair, Head of Research at Geojit Investments, market sentiment remains supported by encouraging Q1FY27 business updates and rising optimism over a healthy earnings season.2) Iran-US conflict

The conflict between Iran and the US continues to escalate after a brief period of calm earlier this month. Fighting intensified on Friday, with the US striking bridges and an airport in Iran, while Tehran targeted a power and desalination plant in Kuwait.

Iran also said it launched fresh strikes on US facilities across the Middle East, including its first direct attack in Syria, following a sixth consecutive night of US strikes on Iranian military sites.

3) Oil prices

Crude prices have surged amid the escalating Middle East conflict. Brent crude futures climbed around 5% to $88.10 a barrel, while US West Texas Intermediate (WTI) futures rose over 4% to $82.49, with both benchmarks hitting their highest levels since mid-June.

For the week, Brent and WTI gained about 16%, marking Brent’s third straight weekly advance and WTI’s second.

The rally comes after the collapse of the US-Iran truce disrupted oil flows through the Strait of Hormuz, a key route that previously handled around 20% of global oil supplies. Iran has also reportedly urged the Houthis to block the Red Sea shipping route if the US targets its power infrastructure.

4) Global tech selloff

Global tech stocks remained under pressure, with the US market witnessing a sharp selloff on Friday. Chipmakers led the decline, dragging the Philadelphia SE Semiconductor Index more than 20% below its June record high, pushing it into bear market territory.

The S&P 500 and Nasdaq fell more than 1% each on Friday, while the Dow Jones Industrial Average slipped nearly 0.8%. For the week, the S&P 500 lost 1.55%, the Nasdaq declined 2.9%, and the Dow fell 0.93%.

Elsewhere, South Korea’s Kospi remained in a bear market despite being up nearly 62% for the year. Japan’s Nikkei entered correction territory on Friday, while Europe’s tech sector was among the week’s worst performers after posting its biggest quarterly rally since 2001 in June.

Despite the global weakness in technology stocks, the Indian market has remained relatively resiliensot, with several analysts pointing to India’s so-called “anti-AI advantage” as a key supporting factor.

Also read: Wall Street’s chip index enters bear market! Is the AI bubble finally going bust?

5) Rupee

The Indian rupee posted its sharpest weekly decline since May, weighed down by elevated crude oil prices and strong importer demand for the US dollar. The currency settled at 96.28 against the greenback, down about 1% for the week.

“The broader bias for the rupee remains weak as elevated crude oil prices and cautious foreign fund flows continue to weigh on sentiment. Market participants will closely monitor global developments, crude oil movements, and FII activity for the next directional move. Technically, the rupee is expected to trade in the 96.00-96.55 range, with the overall trend favouring further weakness,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities.

6) FII behaviour

After strong inflows earlier this month, foreign institutional investors (FIIs) largely turned net sellers last week. FIIs pulled out Rs 8,743.35 crore from Indian equities, while domestic institutional investors (DIIs) remained net buyers, investing Rs 8,790.75 crore, according to Vinit Bolinjkar, Head of Research at Ventura.

What lies ahead?

Indian equities weathered a volatile week to end with gains, as investors increasingly shifted towards large-cap stocks, said Geojit’s Nair.

“Despite concerns over escalating tensions in West Asia, which pushed crude oil prices above $85 a barrel and pressured the rupee, market sentiment remained supported by encouraging Q1 FY27 business updates and growing confidence in a healthy earnings season,” he said.

Nair noted a clear rotation towards largecaps, driven by rich valuations in the broader market and the relatively attractive valuations and stronger earnings visibility of bluechip companies.

“On the sectoral front, IT stocks led gains following constructive management commentary and positive earnings expectations, while consumer durables benefited from optimism around stronger domestic demand in the second half of FY27. In contrast, realty and metal stocks remained under pressure,” according to Nair.

Looking ahead, Nair said investors will closely track Japan’s inflation data for interest rate cues and India’s PMI readings for fresh signals on economic activity and business confidence. He added that corrections in select Asian markets amid concerns over stretched AI-driven valuations could enhance India’s appeal among emerging markets, supported by its strong macro fundamentals and resilient domestic demand.

Technical view on Nifty

Rupak De, Senior Technical Analyst at LKP Securities, stated that the overall trend remains positive, as the Nifty continues to trade above its key moving averages, while the RSI has entered a bullish crossover, indicating strengthening momentum.

“In the near term, the index is likely to remain firm, with the potential to move towards 24,800. On the downside, immediate support is placed at 24,200. A decisive break below this level could trigger a phase of consolidation,” he added.

Also read: NIfty IT logs best weekly gains since Oct 2025

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The Indian stock market recorded sharp gains on Friday, with Sensex and Nifty rising more than 1% to end the week on a positive note. Strong Q1 earnings, sharp buying in IT stocks and other factors boosted investor sentiment despite the global market crash.

The Sensex surged over 964 points to close at 78,151, while Nifty 50 gained around 262 points to end the session at 24,334. The rally occurred despite weakness in the broader market, with the Nifty Midcap 100 and Nifty Smallcap 100 indices declining up to 0.4%.

Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty and IT, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:

Nifty was largely flat this week. How are charts looking for the weak ahead as Q1 earnings come thick and fast?

Last week, the benchmark index Nifty traded within a narrow range of just 367 points, marking its smallest weekly trading range since December 2025. More importantly, the index has remained confined to the 24,530-23,785 zone for the past five weeks, forming a series of small-bodied, indecisive candles on the weekly chart. This price action reflects a clear lack of conviction from both bulls and bears, with neither side willing to take decisive control. But history suggests that such prolonged indecision rarely lasts for long.

The subdued price movement has also resulted in a Bollinger Band Squeeze on the daily chart—a phenomenon that occurs when volatility contracts sharply and the Bollinger Bands narrow. Such periods of low volatility are often followed by a significant directional move. Momentum indicators are also echoing the same message. The daily RSI and Stochastic Oscillator continue to move sideways, while the trend strength indicator, ADX, has slipped to 10.56, its lowest reading since July 2021. Collectively, these indicators suggest that the market is lacking directional strength. The only question now is—which side will seize control when volatility returns?
With several index heavyweights, including Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank, set to announce their quarterly earnings over the weekend, all eyes will be on Monday’s trading session. The market’s reaction to these earnings could determine whether Nifty finally breaks out of its prolonged consolidation.
From a technical perspective, the 24,500-24,550 zone remains the immediate hurdle, as it coincides with the previous swing highs. A decisive move above 24,550 could trigger a fresh rally towards 24800, followed by 25,000 levels in the short term. On the downside, the 20-day EMA zone of 24,100-24,050 is expected to provide strong support.
Nifty IT performed well this week, up nearly 5%. Is this a technical bounceback or hidden value in stock?

Nifty Bank remained rangebound. How do you see it panning out on Monday after major private banks report their Q1 earnings?
The banking benchmark index, Bank Nifty, has been consolidating within a broad range of 58,706-56,549 over the last 23 trading sessions. However, the index is now approaching the upper end of this range and appears to be on the verge of a decisive breakout from its prolonged consolidation phase.

From a technical standpoint, Bank Nifty is trading comfortably above its key moving averages, reflecting a positive underlying trend. Momentum indicators and oscillators continue to support the bullish setup. The daily RSI is currently placed above the 60 mark and remains in an upward trajectory, indicating strengthening buying momentum and improving market sentiment.

The upcoming trading session on Monday assumes greater significance, as several heavyweight constituents of the index, including HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank announced their quarterly earnings. Given their substantial weightage in the index, the earnings outcome is likely to play a crucial role in determining the next directional move for Bank Nifty.

On the levels front, the 58,700-58,800 zone is expected to act as an immediate resistance area, as a key horizontal trendline is positioned around these levels. A sustained breakout above 58,800 could trigger a fresh leg of the rally, paving the way for an upside move towards 59,500, followed by 60,300 in the short term.

On the downside, the 20-day EMA zone of 57,600-57,500 is likely to provide strong support and will remain a critical level to watch for maintaining the prevailing positive bias in the index.

What are your views on HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Yes Bank?
HDFC Bank – The lender has been consolidating within the 828–807 range over the last seven trading sessions. The stock has been hovering around its 100-day EMA, while the RSI has remained flat, indicating a lack of momentum. The ADX is also moving sideways, reflecting the absence of a strong directional trend. A decisive breakout on either side of this range is likely to determine the stock’s next directional move.

ICICI Bank – The private lender has given a breakout above its 1,433–1,366 consolidation range on the daily chart. The stock continues to trade above all its key moving averages, highlighting a strong underlying trend. The RSI has turned higher from around the 60 mark, signalling sustained bullish momentum, while the rising MACD histogram on the weekly timeframe further reinforces the positive bias. As long as the stock holds above the 1,415–1,410 support zone, the bullish momentum is likely to persist.

Kotak Mahindra Bank – The bank had been consolidating within the 385–368 range over the last eight trading sessions before delivering a breakout. The stock has reclaimed its key short-term moving averages, signalling improving price strength. The DI+ has crossed above DI- on the ADX indicator, indicating that buyers are gradually gaining control. The RSI has also turned higher, reflecting renewed bullish momentum. As long as the stock sustains above the 375–370 support zone, the ongoing pullback is likely to extend further.

How are FIIs and DIIs positioned in index futures? And what is VIX signalling?
FIIs continue to maintain a net short bias in index futures, but recent positioning indicates gradual short covering rather than fresh bearish additions. The FII long-short ratio has improved from 8.37% on July 14 to 11.01% on July 17. Over the same period, net short positions in index futures have declined from 2.65 lakh contracts to 2.16 lakh contracts, suggesting that FIIs are unwinding short positions, albeit at a measured pace.

Meanwhile, the DII long-short ratio has remained steady at around 87%, reflecting continued supportive positioning. This consistent stance from DIIs has helped absorb FII selling pressure and provide stability to the broader market. With the Nifty breaking out of its recent consolidation range, any acceleration in FII short covering could act as a key catalyst for Index to move higher.

India VIX continues to trade below its key short- and long-term moving averages, indicating that market volatility remains well contained. After surging nearly 26% on 8 July, when the Nifty declined over 500 points, the volatility index has gradually cooled alongside the recovery in equities.

Since peaking at 28.90 on 30 March 2026, India VIX has been forming lower highs and lower lows, reflecting easing fear and improving market sentiment. Technically, the 11.80–11.50 zone is a crucial support. A sustained move below this level could further ease volatility and provide a supportive backdrop for equities. On the upside, 15.30–15.50 is likely to act as immediate resistance. Overall, the trend suggests market sentiment remains constructive with volatility expected to stay under control.

What sectoral indices are looking good on the charts for next week?
Technically, Nifty Private Bank, Realty, Pharma and Healthcare are likely to outperform in the short term.
On the flip side, Nifty CPSE, PSE, Metal and PSU Banks are likely to continue their underperformance in the short term.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1402 ET – Canadian home prices not only aren’t recovering, they continue to slide, the latest Teranet-National Bank data shows. The national house price index dipped 0.3% from May to June in seasonally adjusted terms and the composite index dropped 0.4%, a seventh consecutive fall to leave prices 4.3% below their year-earlier level. This weakness was despite an improvement in resale activity for a third straight month, National Bank says. Sales rose 0.5% in June but remain 19.8% below the historical average, which economist Kyle Dahms says suggests the improvement should be seen as a recovery from depressed levels rather than a return to underlying strength. Dahms says any price recovery is likely to be modest and uneven. (robb.stewart@wsj.com; @RobbMStewart)

1350 ET – Canada’s banks have carried the Toronto Stock Exchange to new heights, but valuations have reached levels far above what fundamentals can reasonably support, says Rosenberg Research’s David Rosenberg. His advice is for investors to consider rebalancing their oversize holdings. Rosenberg says the fundamentals for the banks are genuinely good, but probably can’t justify the roughly 33% rally for the six biggest lenders in 2026. The driver is credit losses shifting into reverse, resulting in lower provisions and higher earnings. Rosenberg says these kind of provision releases typically aren’t repeatable, yet the Big Six are now trading on an average roughly 15 times expected 2027 earnings versus a historical around 11 times. (robb.stewart@wsj.com)

1346 ET – Capital concentration among large alternative asset managers decreased during 1Q after six quarters of expansion, according to Canoe Intelligence, a provider of investment data-management systems. The top 50 private-fund managers by assets accounted for 48% of the total net asset value of investors’ holdings in 1Q, down from 51% in 4Q, while those managers’ share of investors’ new capital commitments dropped to 46% from 60%, Canoe’s data shows. “One quarter of deconcentration does not undo six quarters of consolidation,” but the decline in the share of new commitments may have future implications for large managers, Canoe says. That’s because “commitments reflect deliberate [investors’] decisions made now for capital that will be called over the coming years,” it adds. (luis.garcia@wsj.com; @lhvgarcia)