Morning Brief: Nifty Dips 0.53% to 23,869; FIIs Net Sell ₹2,999 Cr Amid Global Tensions | 24 Jul 2026, 08:15 AM IST
By ThePip Desk
Indian markets extended losses for a fourth day, with Nifty closing at 23,869.60, as FIIs offloaded equities and global tensions pushed crude prices higher.
Indian equity benchmarks concluded Thursday’s session lower for the fourth consecutive day, influenced by escalating tensions in West Asia and persistent selling pressure from Foreign Institutional Investors (FIIs). The Nifty 50 led the decline, closing below the 23,900 mark, while broader markets also saw significant corrections.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 23,869.60 (-0.53%) |
| Nifty Bank | 56,592.00 (-0.94%) |
| Nifty Midcap 100 | 61,685.00 (-0.99%) |
Institutional Flows
Foreign Institutional Investors (FIIs) remained net sellers on July 23, offloading equities worth ₹2,999.23 crore. Domestic Institutional Investors (DIIs), however, provided support by recording net purchases of ₹2,947.14 crore. This marks a continued trend of FII outflows in recent sessions.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-07-23 | -2,999.23 | 2,947.14 |
| 2026-07-22 | -819.20 | -418.26 |
| 2026-07-21 | 1,650.16 | -656.88 |
| 2026-07-20 | -1,121.04 | 1,312.03 |
| 2026-07-17 | -376.41 | 1,017.89 |
SEBI data shows FIIs were net investors in equities by ₹326.19 crore on July 23, with gross purchases of ₹14,113.71 crore and gross sales of ₹13,787.52 crore. In the debt segment, FIIs were net investors by ₹1,322.81 crore.
Sector Performance
Among the sectoral indices, Nifty Auto was the sole gainer, while Realty and PSU Bank sectors witnessed the steepest declines.
| Sector | Last |
|---|---|
| Nifty Auto | 27,520.80 (+0.70%) |
| Nifty IT | 28,533.55 (-0.06%) |
| Nifty Pharma | 25,653.55 (-0.38%) |
| Nifty FMCG | 49,033.20 (-0.41%) |
| Nifty Financial Services | 25,992.05 (-0.75%) |
| Nifty PSU Bank | 8,297.65 (-1.00%) |
| Nifty Realty | 886.70 (-1.81%) |
Top Movers
Bajaj Auto and SBI Life Insurance led the Nifty 50 gainers, while Adani Enterprises and Shriram Finance were among the top losers.
Gainers
| Symbol | Company | Last |
|---|---|---|
| BAJAJ-AUTO | Bajaj Auto Ltd. | 11,283.50 (+2.59%) |
| SBILIFE | SBI Life Insurance Company Ltd. | 1,853.50 (+2.59%) |
| M&M | Mahindra & Mahindra Ltd. | 3,229.70 (+1.71%) |
| TCS | Tata Consultancy Services Ltd. | 2,242.90 (+1.57%) |
| EICHERMOT | Eicher Motors Ltd. | 7,721.50 (+1.17%) |
Losers
| Symbol | Company | Last |
|---|---|---|
| ADANIENT | Adani Enterprises Ltd. | 3,010.00 (-4.37%) |
| SHRIRAMFIN | Shriram Finance Ltd. | 1,025.80 (-3.12%) |
| NESTLEIND | Nestle India Ltd. | 1,447.90 (-3.06%) |
| ADANIPORTS | Adani Ports and Special Economic Zone Ltd. | 1,778.50 (-2.25%) |
| BAJFINANCE | Bajaj Finance Ltd. | 1,039.80 (-1.93%) |
Global Cues
Global markets presented a mixed picture. US markets closed lower on Wednesday, with traders cautious ahead of key earnings and concerns over fresh tariffs and rising oil prices. Meanwhile, Asian markets traded mostly higher on Thursday, buoyed by renewed AI optimism following strong quarterly revenue reports from major US technology companies. However, Brent crude oil prices surged past $98 per barrel amid escalating geopolitical tensions in West Asia, raising concerns about global energy supplies and inflationary pressures.
Currency & Macro
The Indian rupee weakened against the US dollar, ending at 96.65, down 12 paise from its previous close. On the macro front, the Reserve Bank of India (RBI) was a net seller of $6.104 billion in the spot foreign exchange market in May, marking the third consecutive month of net dollar sales. Inflation remains a key concern, with India’s wholesale price index (WPI) inflation at 9.87% in June and retail inflation (CPI) jumping to 4.38%, breaching the RBI’s medium-term target of 4%.
IPO Watch
Several Initial Public Offerings (IPOs) are currently open for subscription, offering opportunities for your portfolio:
- Silverstorm Parks And Resorts Ltd.: Open from July 24-28, with a price band of ₹123-133.
- Xtranet Technologies Ltd.: Open from July 23-27, with a price band of ₹120-127.
- Lohia Corp Ltd.: Open from July 23-27, with a price band of ₹404-425.
- INDO-MIM Ltd.: Open from July 23-27, with a price band of ₹461-485.
- Cube Highways Trust: Open from July 22-24, with a price band of ₹151-152.
- Shree Balaji (Mala) Textiles Ltd.: Open from July 22-24, with a price band of ₹66-70.
Corporate & Earnings
- Infosys reported a 12% rise in Q1 consolidated net profit, with total income increasing by 13.56% to ₹49,195 crore for Q1FY27.
- Mahindra Lifespace Developers received approval to incorporate a new subsidiary company.
- Indostar Capital Finance successfully raised ₹400 crore through Non-Convertible Debentures (NCDs).
- HPCL, Dr. Reddy’s Laboratories, and HFCL announced their quarterly results.
The persistent FII selling, coupled with rising crude oil prices due to West Asia tensions, remains a significant headwind for Indian equities.
Despite the cautious sentiment, domestic institutional support and positive news from key companies like Infosys offer pockets of resilience in an otherwise challenging market.