Morning Brief: Nifty Dips 0.13% to 24,398; FIIs Net Buyers with ₹393 Cr as Tech Stocks Gain | 08 Jul 2026, 08:15 AM IST
By ThePip DeskIndian markets snapped a four-day winning streak, with Nifty closing at 24,398.70. FIIs injected ₹393.19 crore, while IT stocks led gainers amidst global caution.
Indian equity benchmarks concluded Tuesday’s session in the red, ending a four-day winning streak as profit booking emerged. Investors remained cautious ahead of the US Federal Reserve’s meeting minutes and the impending Q1 earnings season. Concerns over a weak monsoon potentially fueling inflation and fresh US-Iran tensions also weighed on sentiment.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 24,398.70 (-0.13%) |
| Nifty Bank | 58,200.70 (-0.16%) |
| NIFTY Midcap 100 | 62,285.30 (-0.30%) |
Institutional Flows
Foreign Institutional Investors (FIIs) continued their buying spree on Tuesday, injecting a net ₹393.19 crore into Indian equities. Domestic Institutional Investors (DIIs), however, were net sellers, offloading ₹383.43 crore. This marks a continued positive flow from FIIs, who were also net buyers on Monday with ₹243.03 crore.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-07-07 | +393.19 | -383.43 |
| 2026-07-06 | +243.03 | +3791.42 |
| 2026-07-03 | +1355.33 | -1953.89 |
Breaking down the FII activity, they were net buyers in both equity and debt segments on Tuesday. Equity saw net inflows of ₹848.33 crore, while debt markets attracted ₹1,064.84 crore.
Top Movers (Nifty 50)
IT stocks led the gainers on Tuesday, while retail and Adani group stocks faced selling pressure.
Gainers
| Symbol | Company | Last |
|---|---|---|
| HCLTECH | HCL Technologies Ltd. | 1,168.20 (+3.00%) |
| TECHM | Tech Mahindra Ltd. | 1,447.50 (+2.92%) |
| INFY | Infosys Ltd. | 1,071.80 (+2.84%) |
| TITAN | Titan Company Ltd. | 4,604.20 (+2.67%) |
| SBILIFE | SBI Life Insurance Company Ltd. | 1,832.30 (+2.49%) |
Losers
| Symbol | Company | Last |
|---|---|---|
| TRENT | Trent Ltd. | 2,927.80 (-12.44%) |
| ADANIENT | Adani Enterprises Ltd. | 3,107.20 (-3.10%) |
| ADANIPORTS | Adani Ports and Special Economic Zone Ltd. | 1,833.90 (-1.64%) |
| BEL | Bharat Electronics Ltd. | 419.15 (-1.50%) |
| CIPLA | Cipla Ltd. | 1,451.80 (-1.39%) |
Global Cues
Asian markets mostly closed lower on Tuesday, with South Korea’s Kospi index plunging due to weakness in the tech sector amidst concerns over high AI-related stock valuations. Chinese shares also declined despite measures to boost financial connectivity. In contrast, US markets ended in the green on Monday, with the Dow Jones index hitting record highs, driven by strength in technology stocks.
Currency & Bond Markets
The Indian rupee strengthened against the US dollar on Tuesday, closing at 94.97, a gain of 46 paise from its previous close of 95.43. In the bond market, yields traded higher, with the new 10-year Government Stock yields rising 2 basis points to 6.70% from 6.68%.
Economy & Policy
- Commerce and Industry Minister Piyush Goyal stated that the legal scrubbing of the India-EU Free Trade Agreement (FTA) text is expected to be completed within the next 15-20 days.
- The India-Israel Bilateral Investment Agreement (BIA) came into force on July 4, aiming to boost two-way investments and ensure a secure investment climate.
- S&P Global Ratings warned that a weak monsoon in India could lead to higher inflation, weaken rural demand, and strain fiscal balances.
- The Centre for Research on Energy and Clean Air (CREA) flagged potential strain on India’s energy system due to this year’s El Nino, which could reduce power generation from turbines and hydropower while increasing demand for air conditioning.
Corporate & Earnings News
- Mitsu Chem Plast Ltd. announced a change in management.
- Knack Packaging Ltd. saw the listing of its equity shares today.
- Adani Enterprises Ltd. made an announcement regarding allotment.
- DCB Bank Ltd. received an update on its credit rating.
- Leapfrog Engineering Services Ltd. intimated a new purchase order.
- Tilaknagar Industries Ltd. provided updates on an acquisition.
- Stellant Securities and Betala Global Sec. announced their quarterly results.
IPO Watch
- Kusumgar Ltd.‘s IPO opens today, July 8, 2026, with a price band of ₹398-419 per share. The issue closes on July 10, 2026.
- Upcoming IPOs include Happy Steels Ltd. (July 9-13, ₹62-66), Devson Catalyst Ltd. (July 9-13, ₹112-118), and Laser Power & Infra Ltd. (July 9-13, ₹203-214).
- Manipal Health Enterprises and Moneyview have received SEBI’s approval to raise funds via IPOs.
Despite a slight dip in headline indices, FIIs remain net buyers, signaling continued foreign interest, particularly in debt, while IT stocks show resilience amidst broader market caution.
The strengthening rupee and active IPO market suggest underlying confidence, even as global cues and domestic monsoon concerns warrant investor vigilance.