Post Session: Quick Review

Indian equity benchmarks ended in negative territory on the Nifty 50 F&O expiry day, weighed down by persistent foreign institutional investors (FIIs) selling and escalating geopolitical tensions between the United States and Iran. After a cautious start, the indices extended their losses and traded in the red throughout the session, led by losses in index heavyweights - HDFC Bank, Infosys and Reliance Industries, and selling in IT stocks.

Some of the important factors in trade:

India's outward FDI declines 47.9% in June 2026: Traders remained cautious as data released by the Reserve Bank of India (RBI) showed India's outward foreign direct investment (FDI), measured by financial commitment, declined 47.9 per cent year-on-year (YoY) to $3 billion in June 2026 from $5.74 billion in the same month last year. 

India’s core industrial sector activity accelerated to 5% in June 2026: Traders overlooked the government’s latest data, which showed that growth in India’s core industrial sector activity accelerated to 5% in June 2026, the fastest pace in five months.

India looks forward to closer ties with Panama: Traders paid no head towards the External Affairs Minister S Jaishankar said that India looks forward to building ‘closer ties’ with Panama because that country offers both a strategic location as well as enormous economic stability and potential for a partner like India.

On the global front: European markets were trading in green, as oil prices eased amid diplomatic efforts to ease the U.S.-Iran conflict. Asian markets closed mostly higher, after China maintained its loan prime rates unchanged for the fourteenth consecutive month.

The BSE Sensex ended at 77470.11, down by 238.41 points or 0.31% after trading in a range of 77337.33 and 77753.18. There were 20 stocks advancing against 10 stocks declining on the index. (Provisional)

The top gaining sectoral indices on the BSE were Realty up by 1.08%, Basic Materials up by 0.98%, Telecom up by 0.97%, Auto up by 0.88%, and Metal up by 0.52%, while IT down by 0.66%, Energy down by 0.44%, PSU down by 0.22%, FMCG down by 0.20%, and TECK down by 0.18% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Bajaj Finserv up by 2.01%, Interglobe Aviation up by 1.76%, Ultratech Cement up by 1.37%, HCL Technologies up by 1.23% and Kotak Mahindra Bank up by 1.03%. On the flip side, HDFC Bank down by 2.12%, Reliance Industries down by 1.46%, Infosys down by 1.42%, State Bank of India down by 1.30% and TCS down by 1.20% were the top losers. (Provisional)

Meanwhile, with India-UK Comprehensive Economic and Trade Agreement (CETA) coming into effect, India has invited the first round of applications for the allocation of 2026 import quotas for fully-built passenger cars and goods vehicles under the duty concession provisions of the India-UK free trade agreement. The directorate general of foreign trade (DGFT) has said that importers seeking to import vehicles from the UK under the quota-based duty concessions (tariff rate quota - TRQ) provided under the agreement can submit their applications from July 21 to August 4. The applications have been invited for allocation of quota to the importers for 9,316 units in the first phase.

Under CETA, India has allowed the import of a total of 3.78 lakh units of conventional-engine passenger cars, including those in the mass segment, from the UK at a concessional customs duty during the first 15 years of the implementation of the trade pact between the two countries. Further, the tariffs on automotive imports will fall from about 110% to 10%, with quotas on both sides. Only Original Equipment Manufacturers (OEMs), dealers and channel partners duly authorised by the OEMs of vehicles originating in the UK will be eligible to apply for the TRQ. In order to be eligible for the concession, each applicant have to submit a pre-purchase agreement issued by an OEM of the vehicles originating in the UK setting out the quantity of vehicles agreed to be supplied to the applicant during the TRQ year for importation into India under each TRQ.

The quota for cars with an engine capacity of up to 1,500 cc has been kept at 2,329 units. These vehicles will attract a basic customs duty of 50% instead of 66%. Likewise, for cars with engine capacity exceeding 1,500 cc but below 3,000 cc for petrol-run vehicles or exceeding 1,500 cc but not exceeding 2,500 cc for diesel-run vehicles, the quota again has been set at 2,329 units. On these vehicles, the duties have also been reduced to 50% from 66%. A quota of 4,658 units has been set for cars with an engine capacity of more than 3,000 cc for petrol-run vehicles and 2,500 cc for diesel-run vehicles. For these categories, the import duty will come down to 30% from 110%.

The CNX Nifty ended at 24187.70, down by 50.80 points or 0.21% after trading in a range of 24135.65 and 24262.20. There were 33 stocks advancing against 17 stocks declining on the index. (Provisional)

The top gainers on Nifty were Shriram Finance up by 2.75%, Bajaj Finserv up by 2.10%, Eicher Motors up by 1.80%, Ultratech Cement up by 1.60% and HCL Technologies up by 1.49%. On the flip side, HDFC Bank down by 2.08%, Infosys down by 1.52%, Reliance Industries down by 1.47%, State Bank of India down by 1.47% and Dr Reddy's Laboratories down by 1.40% were the top losers. (Provisional)

European markets were trading higher; Germany’s DAX gained 104.71 points or 0.42% to 24,951.40, France’s CAC rose 27.89 points or 0.33% to 8,368.00 and UK’s FTSE 100 increased 26.23 points or 0.25% to 10,550.99.

Asian markets ended mostly higher on Tuesday amid hopes that United States and Iran will resume peace negotiations. Although, some gains were limited after Houthi leaders in Yemen declared a naval blockade against Saudi Arabia, US President Donald Trump vowed that Iran will pay dearly for every US soldier killed, and Trump announced new 50% tariffs on a wide range of Canadian imports due to alleged discriminatory treatment of American products. Chinese shares jumped, a day after several state-owned enterprises announced measures including share buybacks, stake increases and dividend payouts as they remain confident in the prospects of the country's capital market. Japanese shares rallied as traders returned to their desks after a long holiday weekend, with technology stocks leading the advance. South Korea's Kospi index climbed as investors went bargain hunting for tech heavyweights following last week's sharp selloff. Meanwhile, Hong Kong shares ended flat as investors remained on the sidelines ahead of Hong Kong's inflation data due later in the day.