Reliance Shares Rise Ahead of Q2 Earnings; IT Stocks Under Pressure

The final trading day before the Diwali weekend is witnessing a flurry of activity on Dalal Street as multiple companies announce their Q2 FY26 earnings. The session began with mixed reactions across sectors, led by movements in key IT and heavyweight stocks.

Among major updates, Reliance Industries shares gained around 1.2%, recovering ahead of its much-awaited Q2 earnings release later today. The energy-to-retail conglomerate remains in focus as investors anticipate its quarterly performance to influence broader market sentiment.

IT Stocks See Pressure After Weak Global Cues

In contrast, Wipro shares fell over 4%, extending weakness from global cues after its US-listed ADR dropped around 2.5% overnight. Similarly, Infosys ADR also declined 2.5%, dampening investor mood in the IT pack.

Other technology names, such as Cyient and LTIMindtree, are also expected to react to their quarterly results announced earlier, contributing to a subdued tone in the IT index.

Also Read: BSE MCap Nears Record High on Festive, FII Boost

Earnings Wave Before Diwali: Key Companies in Focus

The market’s attention remains divided between IT earnings and other major corporate announcements. Beyond technology, several key names like Jio Financial Services, Punjab & Sind Bank, Metro Brands, Sunteck Realty, Vikram Solar, Waaree Energies, and JSW Infra are expected to see movement as investors digest their Q2 numbers released after Thursday’s market hours.

Adding to the excitement, Nifty 50 heavyweights Reliance Industries and JSW Steel are among the top companies reporting their results today.

Broader Market Highlights

The action doesn’t stop there — the broader market is buzzing with more companies lined up to release earnings.
These include Dixon Technologies, Polycab, Havells India, India Cements, L&T Technology Services, PVRINOX, REC, Oracle Financial, Tata Technologies, and Ujjivan Small Finance Bank.

With such a dense earnings calendar, market volatility is likely to remain high throughout the session. Traders and investors are expected to closely monitor numbers for cues on corporate growth trends and festive season outlook.

Market Mood Mixed Ahead of Diwali Weekend

As markets gear up for the festive break, investor sentiment appears mixed, with strong anticipation for Reliance’s Q2 performance and profit-taking in IT counters.

While Reliance’s recovery of 1.2% offers some support to the benchmark indices, IT weakness led by Wipro and Infosys continues to weigh on overall market momentum.

With a long list of companies unveiling their results today, the trading day is set to remain action-packed — making it a crucial pre-Diwali session for market watchers.