Indices remain weak in late morning deals

Domestic equity indices remained weak in late morning deals due to losses in Bajaj Finance, NTPC, Adani Ports, HDFC Bank, and Tata Steel. Rising US Treasury yields and crude oil prices dented domestic sentiment. Crude oil prices surged after a tanker was struck by an unknown projectile off Saudi Arabia and as U.S. President Donald Trump threatened to bomb Iranian infrastructure. Besides, cautiousness also prevailed in the markets as Foreign Institutional Investors (FIIs) offloaded equities worth Rs 819.20 crore on July 22, 2026. On the BSE sectoral front, traders were seen building positions in Auto, Consumer Durables, and FMCG, while selling was witnessed in Telecom, Bankex, TECK, Oil & Gas, and Utilities.

On the global front, Asian markets were trading mostly in the green despite negative cues from the US markets overnight. Back home, in the stock specific development, TVS Motor Company rose as the company launched TVS Raider in Egypt. 

The BSE Sensex is currently trading at 76589.81, down by 165.24 points or 0.22% after trading in a range of 76344.67 and 76726.66. There were 12 stocks advancing against 18 stocks declining on the index.

The few gaining sectoral indices on the BSE were Auto up by 1.22%, Consumer Disc up by 0.65% and FMCG up by 0.01%, while Telecom down by 1.05%, Bankex down by 0.84%, TECK down by 0.51%, Oil & Gas down by 0.51% and Utilities down by 0.47% were the top losing indices on BSE.

The top gainers on the Sensex were Eternal up by 3.88%, Mahindra & Mahindra up by 1.93%, Kotak Mahindra Bank up by 0.80%, Bajaj Finserv up by 0.80% and ITC up by 0.64%. On the flip side, Bajaj Finance down by 1.06%, NTPC down by 0.91%, Adani Ports down by 0.85%, HDFC Bank down by 0.78% and Tata Steel down by 0.75% were the top top losers.

Meanwhile, an article published in the Reserve Bank of India's (RBI) July Bulletin has said that the Indian economy has navigated global uncertainties effectively, with a recovery in foreign investments in recent months signalling renewed investor confidence. It noted that the global economy continues to face heightened uncertainty due to fragile geopolitical conditions and persistent supply chain pressures. 

Despite these challenges, it said India has remained among the world's fastest-growing major economies, sustaining strong economic momentum through June 2026. It noted that Industrial and services sector indicators continued to remain firm, reflecting broad-based strength in economic activity.  While the farm sector has experienced an uneven southwest monsoon, it said the impact on food inflation is likely to remain contained, supported by comfortable foodgrain stocks. 

The Bulletin also highlighted that India's external trade momentum remained robust, with strong growth in both exports and imports during the first quarter of FY27 (Q1FY27). The recent implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), along with progress on other bilateral trade agreements, is expected to further strengthen trade. It said India's external vulnerability indicators remain healthy. It added that foreign portfolio investments (FPIs) recorded net inflows in June 2026, supported by policy measures for the debt market and easing geopolitical tensions, indicating a revival in investor confidence. In July (up to July 20), FPIs infused $3.1 billion into the equity and debt segments.

On the inflation front, it noted that headline Consumer Price Index (CPI) inflation rose to 4.4% in June 2026, the highest level in 18 months, from 3.9% in May. This marked the first time since January 2025 that inflation exceeded the RBI's 4% target. The rise in inflation was primarily driven by higher prices in the food and beverages and fuel components, while core inflation remained unchanged. It further said the sequential increases in key food items appeared to be broad-based in July so far (up to July 20).

The CNX Nifty is currently trading at 23945.05, down by 51.20 points or 0.21% after trading in a range of 23876.20 and 23990.75. There were 20 stocks advancing against 30 stocks declining on the index.

The top gainers on Nifty were Eternal up by 3.02%, Bajaj Auto up by 2.46%, Mahindra & Mahindra up by 2.15%, Eicher Motors up by 1.59% and Bajaj Finserv up by 0.91%. On the flip side, Dr. Reddy's down by 2.42%, Nestle India down by 2.09%, Adani Enterprises down by 1.45%, Shriram Finance down by 1.11% and Tata Steel down by 0.92% were the top losers.

Asian markets were trading mostly in the green; Nikkei 225 surged 314.4 points or 0.48% to 66,430.00, Taiwan Weighted added 25.03 points or 0.06% to 44,850.81, Jakarta Composite gained 95.67 points or 1.49% to 6,430.15, Shanghai Composite strengthened 2.73 points or 0.07% to 3,869.76, KOSPI increased 254.64 points or 3.61% to 7,052.34 and Hang Seng advanced 312.34 points or 1.24% to 25,205.00. However, Straits Times fell 29.73 points or 0.53% to 5,565.69.