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Indian Stocks Dip: Weak PMI, FII Outflows Hit Markets

By ThePip DeskIndian Stocks Dip: Weak PMI, FII Outflows Hit Markets

Indian equities fell Thursday amid slower private sector growth and significant FII selling. Key stocks like HCL Tech rallied despite market caution.

Indian benchmark equity indices concluded Thursday’s trading session below neutral lines. This decline was primarily driven by a deceleration in India’s private sector activity and sustained selling pressure from foreign institutional investors.

Market Declines Driven by PMI Data, FII Selling

Investor caution intensified following the slowest expansion pace in India’s private sector since March 2022. Foreign institutional investors (FIIs) also continued their outflows, impacting overall market sentiment.

  • The HSBC Flash India Services PMI Business Activity Index decreased to 53.1 in July, down from 57.4 in June.
  • FIIs offloaded securities valued at Rs 2,999.23 crore during the previous session.

HCL Tech, Apar Industries Show Strong Gains

Despite broader market cautiousness, several individual stocks registered notable advancements based on specific company announcements and strategic developments.

  • HCL Technologies surged over 2% to Rs 1270.00 after revealing plans for an AI Data Center in Odisha Sovereign AI Park.
  • Apar Industries rose over 4% to Rs 13958.95 following board approval to establish a UK subsidiary and invest up to 30 lakh Brazilian real in its Latam operations.

Mixed Q1 FY26 Corporate Earnings Reported

The June 2026 quarter saw a diverse range of financial performances across various sectors, with some companies reporting significant profit and revenue growth while others faced declines.

  • LMW: Profit after Tax (PAT) jumped 169.76% to Rs 66.01 crore; revenue increased 24.50% to Rs 853.30 crore.
  • Hindustan Zinc: PAT surged 146.14% to Rs 5425.00 crore; revenue climbed 77.22% to Rs 13687.00 crore.
  • Shriram Finance: PAT grew 59.79% to Rs 3444.56 crore; revenue rose 16.11% to Rs 13393.68 crore.
  • V-Mart Retail: PAT increased 40.51% to Rs 47.21 crore; revenue up 23.00% to Rs 1088.81 crore.
  • CG Power & Industrial Solutions: PAT up 26.96% to Rs 363.59 crore; revenue rose 15.81% to Rs 3061.37 crore.
  • Grindwell Norton: PAT up 22.39% to Rs 115.53 crore; revenue grew 14.41% to Rs 793.86 crore.
  • Greenply Industries: PAT rose 14.62% to Rs 21.28 crore; revenue increased 13.41% to Rs 496.99 crore.
  • Rama Phosphates: PAT increased 6.44% to Rs 17.07 crore; revenue up 18.12% to Rs 224.80 crore.
  • Dolphin Offshore Enterprises: Net profit marginally declined to Rs 0.91 crore; total revenue surged 515.75% to Rs 2.46 crore.
  • Ponni Sugars (Erode): Net loss reduced to Rs -1.23 crore from Rs -2.68 crore; turnover improved 52.18% to Rs 91.87 crore.

Conversely, some companies experienced declines despite revenue growth in certain cases.

  • ZF Commercial Vehicle: PAT decreased by 17.54% to Rs 99.10 crore, despite an 8.15% revenue growth to Rs 1041.71 crore.
  • Welspun Corp: PAT dropped significantly by 54.54% to Rs 115.84 crore, with sales also falling 14.28% to Rs 1567.22 crore.

The mixed performance across individual stocks and quarterly results highlights a selective market environment where company-specific catalysts and fundamental strengths are key amidst broader macroeconomic pressures and sustained FII activity.

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