Closing Bell: Nifty Dips as Financials Drag; IT Sector Shines on Earnings, AI Plans | 24 Jul 2026, 03:45 PM IST
By ThePip Desk
The Nifty 50 concluded Friday’s session at 23779.40, shedding 90.20 points (-0.38%). Despite a broader market dip, the IT sector demonstrated resilience, buoyed by positive earnings and strategic AI initiatives.
The Indian equity markets concluded Friday’s trading session with the benchmark Nifty 50 experiencing a modest decline, primarily influenced by weakness in financial stocks. The Nifty 50 closed at 23779.40, registering a fall of −90.20 points, or −0.38%. In contrast, the Nifty Bank index showed resilience, closing +123.40 points higher at 56715.40, a gain of +0.22%. The NIFTY Midcap 100 index remained largely flat, ending at 61671.55 with a marginal decline of −13.45 points (−0.02%). Market breadth within the Nifty 50 was positive, with 31 stocks advancing against 19 declines, indicating underlying strength in specific pockets despite the headline index fall.
Index Performance
| Index | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 23779.40 | −90.20 | −0.38% |
| Nifty Bank | 56715.40 | +123.40 | +0.22% |
| NIFTY Midcap 100 | 61671.55 | −13.45 | −0.02% |
Sectoral Divergence Marks Friday’s Trade
Friday’s session was characterized by significant sectoral divergence. The Information Technology (IT) sector emerged as the top performer, gaining +0.79%, closely followed by the Pharma sector, which advanced +0.58%. The Bank sector also posted a modest gain of +0.13%. Conversely, the Financial Services sector was the biggest laggard, shedding −1.04%. Other sectors that closed in the red included Metal (−0.36%), Auto (−0.32%), and FMCG (−0.28%).
IT Majors Lead Gainers; Financials Under Pressure
Among the Nifty 50 constituents, HCL Technologies Ltd. (HCLTECH) led the gains, rising +1.98% to ₹1269.3. This surge followed news of the company’s plans to establish an AI Data Center in Odisha Sovereign AI Park in partnership with Sarvam and the Government of Odisha. Cipla Ltd. (CIPLA) also saw a significant uptick of +1.35% to ₹1411.8, despite reporting a 39% fall in Q1 consolidated net profit, as its consolidated total income increased by 1.58% to Rs 7,330.18 crore. Wipro Ltd. (WIPRO) advanced +1.26% to ₹177.02 after its consolidated net profit rose marginally in Q1FY27, with total income increasing by 9.73%.
On the losing side, Bajaj Finance Ltd. (BAJFINANCE) was the top decliner, falling −2.59% to ₹1012.9. Shriram Finance Ltd. (SHRIRAMFIN) also experienced a notable drop of −2.10% to ₹1004.3, reflecting the broader weakness observed in the Financial Services sector. Mahindra & Mahindra Ltd. (M&M) and Bharti Airtel Ltd. (BHARTIARTL) were also among the significant losers, declining −2.11% and −1.51%, respectively.
Top 10 Nifty 50 Movers
| Company | Close (₹) | Change% |
|---|---|---|
| Gainers | ||
| HCL Technologies Ltd. (HCLTECH) | 1269.3 | +1.98% |
| Cipla Ltd. (CIPLA) | 1411.8 | +1.35% |
| Wipro Ltd. (WIPRO) | 177.02 | +1.26% |
| ITC Ltd. (ITC) | 283.7 | +0.85% |
| JIO Financial Services Ltd. (JIOFIN) | 234.99 | +0.78% |
| Losers | ||
| Bajaj Finance Ltd. (BAJFINANCE) | 1012.9 | −2.59% |
| Eternal Ltd. (ETERNAL) | 280.05 | −2.46% |
| Mahindra & Mahindra Ltd. (M&M) | 3161.7 | −2.11% |
| Shriram Finance Ltd. (SHRIRAMFIN) | 1004.3 | −2.10% |
| Bharti Airtel Ltd. (BHARTIARTL) | 1901.8 | −1.51% |
Institutional Flows
Foreign Institutional Investors (FIIs) were net sellers for the day, offloading equities worth −2999.23 crore. Domestic Institutional Investors (DIIs) provided counter-balance, emerging as net buyers with an inflow of +2947.14 crore, significantly mitigating the FII outflow.
Looking ahead, market participants will monitor global cues and further institutional investment trends for direction in the next trading session.