Stocks to Watch on July 17: Jio Financial, RIL, Wipro, TechM, CEAT, ITI, Federal Bank, WeWork India

Market Opens Higher; IT and Financials Lead

Indian benchmark indices opened higher on Friday, July 17, driven by gains in IT and financial stocks. The BSE Sensex rose over 200 points in early trade, while the Nifty 50 crossed the 24,800 mark. Broader market indices also traded in the green.

Reliance Industries and private banks were in focus ahead of their quarterly results due later in the day. Analysts expect mixed earnings from the heavyweight conglomerate.

Reliance Industries, Jio Financial in Spotlight

Reliance Industries shares edged higher in early trade. The company is set to report its June quarter results later today. Jio Financial Services, the demerged financial arm of Reliance, also saw buying interest. The stock has been volatile in recent sessions.

Traders are watching for commentary on Reliance's telecom and retail segments, which are key growth drivers.

Wipro, Tech Mahindra Among IT Stocks to Watch

Wipro and Tech Mahindra were among the top IT gainers. Wipro shares rose in anticipation of its quarterly earnings next week. Tech Mahindra also gained, recovering from recent losses. The IT sector has been under pressure due to global demand concerns, but bargain buying emerged today.

Other IT stocks like Infosys and TCS were also trading higher, tracking positive US cues.

CEAT, ITI, Federal Bank, WeWork India in Focus

Tyre maker CEAT shares were in focus after the company announced a price hike in select products. ITI Ltd, the state-owned telecom equipment maker, saw buying interest amid reports of new contract wins. Federal Bank gained after reporting healthy loan growth numbers for the June quarter.

WeWork India shares were also in the spotlight as the coworking space provider continues to expand its footprint in key cities. The stock has been volatile in recent weeks.

Global Cues Mixed; US Markets Flat to Higher

Global cues were mixed. US markets closed flat to higher on Thursday, with the S&P 500 and Nasdaq edging up. Asian markets traded mixed, with Japan's Nikkei rising while China's Shanghai Composite was flat. Oil prices remained steady near $82 per barrel.

Investors are awaiting more corporate earnings and US economic data for further direction.

What to Watch Next

Markets will remain focused on quarterly results from Reliance Industries and other key companies. Any commentary on demand trends and margin outlook will be closely tracked. Global cues and foreign fund flows will also influence sentiment in the coming sessions.