Last Updated on July 24, 2026 9:00 pm by BIZNAMA NEWS
Our Business Correspondent
Indian benchmark equity indices extended their downward trajectory for the fifth consecutive session on Friday, pressured by sustained foreign fund outflows, geopolitical escalation in the Middle East, and persistent worries surrounding elevated global energy costs. Despite staging an intraday recovery driven by value buying at lower levels, a strengthening rupee, and a partial pullback in crude oil prices, the broader market failed to sustain momentum, closing deep in the red.
The 30-share S&P BSE Sensex declined by 331.62 points, or 0.43%, to settle at 76,059.77. Simultaneously, the NSE Nifty 50 retreated 102.15 points, or 0.43%, finishing the session below the crucial psychological threshold at 23,767.45, after dropping to an intraday low of 23,606.30. Over the course of the five-day losing streak, the Sensex has surrendered 2.67%, while the Nifty has contracted by 2.32%. Sectorally, selling pressure was predominantly concentrated in auto, metal, and oil & gas counters.
Broader Markets, Market Breadth, and Volatility
Despite the headline indices closing lower, the broader market displayed resilience through balanced participation. The BSE 150 MidCap Index slipped 0.16%, while the BSE 250 SmallCap Index edged down 0.23%.
Market breadth on the National Stock Exchange (NSE) remained positive as advancing issues outpaced decliners:
- Advances: 1,703 shares
- Declines: 1,596 shares
- Unchanged: 126 shares
Meanwhile, the NSE’s India VIX—measuring near-term market volatility expectations—advanced 4.11% to settle at 14.03, signaling heightened anxiety among market participants amid global uncertainties.
Macroeconomic Indicators: HSBC Flash PMI Flash Warning
India’s private sector growth expanded at its slowest pace in more than four years during July, constrained by softer aggregate demand and rising inflationary pressures, according to the HSBC Flash India PMI survey compiled by S&P Global.
- Composite PMI: Fell to 54.3 in July from 57.1 in June, marking the softest expansion rate since March 2022.
- Services Sector: The HSBC Flash India Services PMI Business Activity Index dropped to 53.1 from 57.4, registering its lowest reading since February 2022 and driving the broader economic slowdown.
- Manufacturing Sector: Manufacturing remained a pocket of resilience. The HSBC Flash India Manufacturing PMI Output Index rose to 57.0 from 56.3, although the headline Manufacturing PMI softened slightly to 53.9 from 54.2 in June.
Key Financial Markets and Commodities Watch
Financial markets experienced high volatility across asset classes influenced by shifting geopolitical paradigms and currency movements:
- Crude Oil: Brent crude for September 2026 settlement retreated $3.21 (3.19%) to $97.48 a barrel after briefly breaching the $100 milestone earlier in the session, following reports of supply disruptions in the Middle East.
- Foreign Exchange: The partially convertible Indian rupee appreciated to 96.5600 against the US dollar compared with its previous close of 96.7300.
- Bond Yields: The yield on India’s 10-year benchmark federal paper softened 0.18% to 6.828, down from the previous close of 6.840.
- Bullion: MCX Gold futures for the 5 August 2026 settlement advanced 0.34% to Rs 1,43,308.
- Global Currencies & US Debt: The US Dollar Index (DXY) dipped 0.08% to 101.36. The United States 10-year Treasury yield declined 0.43% to 4.683, while the 30-year US Treasury yield hovered near its highest level since 2007.
Global Market Developments
International equities faced severe headwinds overnight and during Asian trading hours as persistent geopolitical shocks and monetary policy expectations rattled investors.
- Wall Street Overview: US markets closed sharply lower in the previous session. The Dow Jones Industrial Average dropped 506.93 points (0.97%) to 51,711.65, the S&P 500 declined 1.21% to 7,408.30, and the Nasdaq Composite fell 2.15% to 25,137.69. Major technology stocks dragged indexes down, with Alphabet sliding 7% and Tesla plunging 14% following disappointing quarterly reports and increased artificial intelligence expenditure concerns. US Dow Jones futures later pointed to a 231-point recovery ahead of the opening bell.
- European and Asian Trends: European indices traded higher following positive UK retail data showing a 1% volume increase in June driven by warm weather and the FIFA World Cup. Conversely, Asian markets ended mostly lower. Japan’s core inflation rose to 1.6% in June, remaining below the Bank of Japan’s 2% target for the fifth consecutive month, though acceleration in headline inflation (1.7%) and a weaker yen reinforced expectations of potential rate hikes by the BOJ.
- Geopolitical Disruptions: Brent crude oil prices have surged nearly 40% over the month as conflict escalated. Iran-backed Houthi militant attacks on Saudi oil tankers in the Red Sea and the near-closure of the Strait of Hormuz severely disrupted critical shipping lanes. The geopolitical backdrop remained fraught as US airstrikes on Iran and retaliatory Iranian strikes on neighboring nations hosting US bases fueled global energy security concerns. Furthermore, the US administration’s implementation of higher tariffs on imports from 60 trading partners stoked global inflation fears.
Primary Market Debuts and Ongoing Initial Public Offerings
New Listing
Shares of Caliber Mining and Logistics made a stellar debut on the BSE, closing at Rs 528.50—representing a premium of 24.65% over the issue price of Rs 424. The stock opened at Rs 504 (an 18.87% premium) and traded within an intraday range of Rs 538.15 high and Rs 463.15 low, with a trading volume exceeding 21.63 lakh shares.
Ongoing IPO Subscription Status (as of 16:54 IST)
- Xtranet Technologies: Subscribed 1.96 times, receiving bids for 1,80,24,710 shares against 91,93,800 shares on offer.
- Lohia Corp: Subscribed 0.59 times, receiving bids for 84,61,845 shares against 1,43,52,274 shares on offer.
- INDO-MIM: Subscribed 3.06 times, receiving bids for 16,84,87,200 shares against 5,50,93,201 shares on offer.
Corporate Earnings and Stocks in Spotlight
- Infosys (-0.80%): Reported an 8.61% drop in consolidated net profit to Rs 7,769 crore for Q1 FY27, compared with Rs 8,501 crore in Q4 FY26, while revenue from operations grew 3.90% QoQ to Rs 48,211 crore. Management highlighted client caution due to macroeconomic uncertainty, focusing heavily on AI integration and efficiency, supported by strong large deal TCV wins of approximately $1 billion.
- Laurus Labs (+2.60%): Consolidated net profit surged 126% YoY to Rs 367.60 crore in Q1 FY27, backed by a 29% rise in revenue from operations to Rs 2,026.31 crore.
- Wendt (+9.16%): Standalone profit after tax increased 61.6% YoY and 7.2% QoQ to Rs 8 crore, with net sales climbing 30.72% YoY to Rs 60.77 crore.
- Motilal Oswal Financial Services (-7.15%): Adjusted profit after tax rose 9.6% YoY to Rs 1,273.11 crore, rebounding from a loss in the previous quarter, with total income advancing 25.1% YoY to Rs 3,432.23 crore.
- Atul (+5.87%): Consolidated net profit jumped 91.98% YoY to Rs 245.30 crore, supported by a 25.03% increase in revenue to Rs 1,847.95 crore.
- Indian Energy Exchange (IEX) (+1.69%): Consolidated net profit expanded 11.65% YoY to Rs 134.75 crore, on an 11.37% increase in operating revenue to Rs 157.87 crore.
- Allied Blenders and Distillers (+3.39%): Reported a consolidated net profit of Rs 45.42 crore for Q1 FY27, up 20.7% sequentially from Q4 FY26, though down 18.65% compared with the same quarter last year.
- Thyrocare Technologies (+3.67%): Consolidated net profit jumped 34.06% YoY to Rs 52.19 crore, propelled by a 24.34% rise in revenue to Rs 240.02 crore driven by core pathology segment momentum.
- Meesho (-1.80%): Adjusted loss after extraordinary items narrowed to Rs 132.84 crore compared to losses in prior periods, while net sales grew robustly by 48.3% YoY to Rs 3,712.81 crore.
- Route Mobile (-6.07%): Consolidated net profit declined 40.09% sequentially to Rs 68.55 crore for Q1 FY27, despite a slight 1.82% QoQ uptick in operating revenue to Rs 1,151.51 crore.
- Fractal Analytics (-9.01%): Reported a 37.56% sequential drop in consolidated net profit to Rs 72.3 crore in Q1 FY27, alongside a 2.96% rise in sequential revenue to Rs 912.5 crore. On a year-on-year basis, net profit surged 92% and revenue rose 20%.
- APAR Industries (+2.81%): Consolidated net profit surged 77.79% YoY to Rs 467.45 crore, supported by a 29.13% increase in revenue from operations to Rs 6,591.06 crore.
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