Closing Bell: Nifty Dips Over Half Percent as Adani Stocks Drag; Bajaj Auto, M&M Shine | 23 Jul 2026, 03:45 PM IST
By ThePip Desk
The Nifty 50 concludes Thursday’s session at 23866.65, marking a 0.54% decline. Broader market sentiment remained subdued despite more advances than declines in the Nifty 50.
Indian equity benchmarks concluded Thursday’s trading session in negative territory, reflecting a cautious sentiment across the board. The Nifty 50 settled at 23866.65, registering a decline of −129.60 points or −0.54%. While the headline index saw a dip, market breadth within the Nifty 50 was surprisingly positive, with 31 stocks advancing against 19 declines. However, this positive breadth did not translate into broader market strength, as both the Nifty Bank and NIFTY Midcap 100 indices also closed in the red, down −0.96% and −0.99% respectively, indicating pressure on financial and midcap segments.
Market Snapshot: Key Indices
| Name | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 23866.65 | −129.60 | −0.54% |
| Nifty Bank | 56577.75 | −549.05 | −0.96% |
| NIFTY Midcap 100 | 61685.10 | −615.50 | −0.99% |
Nifty 50 Top Movers
| Company | Price (₹) | Change (%) |
|---|---|---|
| Top 5 Gainers | ||
| SBI Life Insurance Company Ltd. (SBILIFE) | 1855.5 | +2.70% |
| Bajaj Auto Ltd. (BAJAJ-AUTO) | 11275 | +2.51% |
| Mahindra & Mahindra Ltd. (M&M) | 3230.9 | +1.75% |
| Tata Consultancy Services Ltd. (TCS) | 2243.1 | +1.58% |
| Tata Consumer Products Ltd. (TATACONSUM) | 1108.5 | +1.24% |
| Top 5 Losers | ||
| Adani Enterprises Ltd. (ADANIENT) | 3008.8 | −4.41% |
| Shriram Finance Ltd. (SHRIRAMFIN) | 1025.5 | −3.15% |
| Nestle India Ltd. (NESTLEIND) | 1447.4 | −3.09% |
| Adani Ports and Special Economic Zone Ltd. (ADANIPORTS) | 1780.7 | −2.13% |
| Bajaj Finance Ltd. (BAJFINANCE) | 1039.1 | −2.00% |
Institutional Flows
Foreign Institutional Investors (FIIs) remained net sellers for the day, offloading equities worth −819.2 crore. This marks a continuation of their selling activity seen on July 20. Domestic Institutional Investors (DIIs) also recorded net sales of −418.26 crore, contributing to the overall market pressure. The combined institutional outflow suggests a cautious approach from major market participants.
Key Stock Movements and News
Among the top gainers, SBI Life Insurance Company Ltd. (SBILIFE) led the pack with a +2.70% rise, closing at ₹1855.5. Bajaj Auto Ltd. (BAJAJ-AUTO) surged +2.51% to ₹11275, propelled by its strong Q1 performance, reporting a 46% jump in consolidated net profit. The company’s total consolidated income increased significantly by 64.02% to ₹22,376.69 crore for Q1FY27, clearly resonating with investors. Mahindra & Mahindra Ltd. (M&M) also saw a notable gain of +1.75%, closing at ₹3230.9, as its Farm Equipment Business reported a 12% rise in June tractor sales, complemented by an 8.32% increase in exports to 1,758 units in June 2026.
Conversely, Adani Enterprises Ltd. (ADANIENT) was the biggest laggard among Nifty 50 constituents, dropping −4.41% to ₹3008.8. Its group counterpart, Adani Ports and Special Economic Zone Ltd. (ADANIPORTS), also faced selling pressure, declining by −2.13% to close at ₹1780.7. Other significant losers included Shriram Finance Ltd. (SHRIRAMFIN) down −3.15% and Nestle India Ltd. (NESTLEIND) which fell −3.09%. These sharp corrections in heavyweight stocks contributed significantly to the Nifty’s overall decline for the day.
As markets prepare for Friday’s session, investors will be closely monitoring global cues for any shifts in sentiment. The sustained net selling by both FIIs and DIIs, observed today, will also remain a key factor to watch for potential market direction.