Morning Intelligence
23 July 2026 | Pre-Market Setup
🌅 Opening Bias: Bearish
Global cues are negative with US tech stocks falling and crude oil prices surging, leading to a weak opening signal for Indian markets.
🌍 Global Cues & Asian Markets
Global markets are showing a bearish trend with major US and Asian indices' futures trading lower, influenced by tech stock declines and rising oil prices.
🇮🇳 Yesterday’s Close
📰 Pre-Market News
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Infosys ADRs fall over 4% as Q1 revenue guidance cut overshadows profit growth
Infosys ADRs declined significantly after the IT major lowered the upper end of its FY27 revenue growth guidance, despite reporting higher profits for the June quarter. -
D-St set for a negative opening as GIFT Nifty signals weak start
Indian domestic equities are expected to open lower, following negative global cues and broad-based selling across sectors, with heightened market volatility. -
Crude oil surges past $100 amid Houthi tanker attacks
Brent crude prices have surged past $100 per barrel due to ongoing Houthi attacks on tankers, intensifying geopolitical concerns and inflation risks.
🎯 Stocks in Focus
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Infosys
ADRs fell over 4% after trimming FY27 revenue growth guidance despite Q1 profit growth. -
IndusInd Bank
Reported a significant profit increase in its first quarter. -
Mahindra Lifespace Developers
Reported a 67% year-on-year rise in Q1 profit to ₹86 crore.
💡 Structural Watchlist
Long-term
Upside: +25-30%
Basis of Pick: A leading Electronics Manufacturing Services (EMS) provider, Kaynes Technology is a key beneficiary of India's Production Linked Incentive (PLI) schemes and the 'China Plus One' strategy. It specializes in high-growth areas like IoT, industrial, and medical electronics, demonstrating annual growth rates of 45-50%.
Strong structural tailwinds in electronics manufacturing, driven by robust domestic demand and increasing global export opportunities, position Kaynes Technology for sustained long-term growth.
Mid-term
Upside: +18-22%
Basis of Pick: Zen Technologies is a prominent Indian defense company specializing in advanced simulation and training solutions. The Indian government's aggressive push for defense indigenization and modernization provides a robust and predictable order pipeline for the company.
As India continues to prioritize domestic defense manufacturing and upgrade its military training infrastructure, Zen Technologies is strategically positioned to capture significant market share with strong government backing.
*Disclaimer: The structural watchlist suggestions are based on market data and quantitative/technical setups. These are for educational purposes and should not be considered as professional investment advice. Consult a SEBI registered advisor before making financial decisions.
💱 Commodities & Forex
📅 Today’s Calendar
Today, July 23, 2026, the US has several economic data releases including MBA Mortgage Applications, Atlanta Fed Business Inflation Expectations, and EIA Petroleum Status Report.