Closing Bell: Nifty Dips Below 24,000; Bajaj Auto, Nestle Post Strong Q1 Gains | 22 Jul 2026, 03:45 PM IST
By ThePip Desk
Indian equities closed lower on Wednesday, with the Nifty 50 shedding 0.78% to finish at 23999.20. Financials weighed heavily, while strong Q1 earnings boosted select auto and FMCG stocks.
Indian equity markets concluded Wednesday’s session with significant declines across major indices, as selling pressure intensified, particularly in the financial sector. The benchmark Nifty 50 closed below the crucial 24,000 mark, settling at 23999.20. This represented a substantial fall of −188.50 points, or −0.78% from its previous close. The negative sentiment was broad-based, with the Nifty Bank index experiencing an even steeper decline, dropping −703.30 points (−1.22%) to finish at 57132.05. Midcap stocks also faced headwinds, as the NIFTY Midcap 100 shed −711.35 points (−1.13%), closing at 62276.25.
Despite the overall market downturn, the market breadth on the Nifty 50 presented a mixed picture. A notable 31 stocks within the index managed to post gains, while 19 declined. This indicates that 62% of the Nifty 50 constituents advanced, suggesting resilience in specific pockets of the market even as the headline index moved lower, largely influenced by heavyweight underperformers.
Major Index Performance
Here is a summary of how the key indices performed at the close of today’s trading session:
| Name | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 23999.20 | −188.50 | −0.78% |
| Nifty Bank | 57132.05 | −703.30 | −1.22% |
| NIFTY Midcap 100 | 62276.25 | −711.35 | −1.13% |
Top Nifty 50 Movers
The session saw a clear divergence in individual stock performance. While the broader indices faced selling pressure, select stocks, particularly those with positive earnings news, demonstrated strong upward momentum. Conversely, several financial and aviation stocks were among the day’s biggest laggards.
Top 10 Gainers
| Company | Close (₹) | Change% |
|---|---|---|
| Bajaj Auto Ltd. (BAJAJ-AUTO) | 10989 | +5.63% |
| Nestle India Ltd. (NESTLEIND) | 1494.1 | +2.91% |
| Tata Consumer Products Ltd. (TATACONSUM) | 1094.6 | +1.21% |
| Power Grid Corporation Of India Ltd. (POWERGRID) | 289.35 | +0.92% |
| Oil & Natural Gas Corporation Ltd. (ONGC) | 251.74 | +0.74% |
| NTPC Ltd. (NTPC) | 350.65 | +0.60% |
| Eternal Ltd. (ETERNAL) | 288.1 | +0.52% |
| Hindustan Unilever Ltd. (HINDUNILVR) | 2153.7 | +0.52% |
| Titan Company Ltd. (TITAN) | 4711.1 | +0.48% |
| Apollo Hospitals Enterprise Ltd. (APOLLOHOSP) | 8936.5 | +0.11% |
Top 10 Losers
| Company | Close (₹) | Change% |
|---|---|---|
| Interglobe Aviation Ltd. (INDIGO) | 5119 | −3.51% |
| JIO Financial Services Ltd. (JIOFIN) | 235.15 | −2.03% |
| Dr. Reddy’s Laboratories Ltd. (DRREDDY) | 1182 | −1.99% |
| Max Healthcare Institute Ltd. (MAXHEALTH) | 1079.7 | −1.88% |
| Infosys Ltd. (INFY) | 1053.4 | −1.87% |
| State Bank Of India (SBIN) | 1025 | −1.86% |
| Tata Motors Passenger Vehicles Ltd. (TMPV) | 327.9 | −1.77% |
| Ultratech Cement Ltd. (ULTRACEMCO) | 11896 | −1.64% |
| Adani Ports and Special Economic Zone Ltd. (ADANIPORTS) | 1817 | −1.60% |
| ICICI Bank Ltd. (ICICIBANK) | 1442.4 | −1.41% |
Earnings Drive Stock-Specific Action
Individual stock performance was significantly influenced by corporate earnings reports released today. Bajaj Auto Ltd. (BAJAJ-AUTO) was a standout performer, surging +5.63% to close at ₹10989. This strong upward movement was directly attributable to the company’s announcement of a robust 46% jump in its Q1 consolidated net profit. Furthermore, Bajaj Auto reported a substantial 64.02% increase in its total consolidated income for Q1FY27, reaching ₹22,376.69 crore.
Similarly, Nestle India Ltd. (NESTLEIND) witnessed a healthy rise of +2.91%, with its shares closing at ₹1494.1. The FMCG giant’s positive momentum stemmed from its disclosure of a 48% rise in Q1 consolidated net profit. Nestle India’s total consolidated income for Q1FY27 grew by 25.49% to ₹6,400.65 crore. The company also provided an update regarding the outcome of its board meeting, which likely contributed to investor confidence.
Institutional Investor Flows
In terms of institutional activity, Foreign Institutional Investors (FIIs) demonstrated renewed buying interest in the Indian market today, recording net purchases of +1650.16 crore. This marks a shift from the previous session where FIIs were net sellers. Conversely, Domestic Institutional Investors (DIIs) were net sellers, offloading −656.88 crore from the equity segment. The net FII inflow provided some counter-balance to the selling pressure observed in other segments.
As the market approaches tomorrow’s trading session, participants will closely monitor global economic indicators and any further corporate developments. The ongoing earnings season is expected to continue dictating stock-specific movements, while broader market direction will depend on institutional flows and evolving sentiment.