Morning Brief: Nifty Dips 0.79% to 23,996 Amid Global Tensions; FIIs Net Sell ₹819 Cr | 23 Jul 2026, 08:15 AM IST

Indian equity benchmarks registered their third consecutive day of declines, with the Nifty 50 falling below the 24,000 mark. Selling pressure was evident across Realty, IT, and Healthcare sectors, as global geopolitical tensions and concerns over potential US tariffs on pharmaceutical imports dampened investor sentiment.

Market Snapshot

Institutional Flows

Foreign Institutional Investors (FIIs) were net sellers in the Indian equity market yesterday, offloading shares worth ₹819.20 crore. Domestic Institutional Investors (DIIs) also recorded net selling of ₹418.26 crore, contributing to the market’s downturn.

Looking at SEBI’s FII/FPI data, equity flows saw a net inflow of ₹3,617.34 crore on July 22, while debt markets attracted a significant net investment of ₹11,236.08 crore.

Top Movers (Nifty 50)

Gainers

Losers

Global Cues

Asian markets closed mixed yesterday, with Japan’s Nikkei declining due to a trade deficit. In contrast, US markets ended higher on Tuesday, buoyed by a rebound in semiconductor equities and positive corporate earnings reports, despite ongoing US-Iran tensions. Hopes for a 10-day ceasefire proposal in the Middle East also offered some relief.

Currency & Macro

The Indian Rupee weakened against the US dollar yesterday, closing at 96.52, a depreciation of 27 paise from its previous close of 96.25 on Tuesday, primarily driven by a surge in crude oil prices. Bond yields also traded marginally higher, with the new 10-year Government Stock yields rising 1 basis point to 6.80%.

On the economic front, a WTO report highlighted India’s ambition to increase its share of global merchandise exports to approximately 10% by 2047. Wholesale inflation remained elevated at 9.87% in June, while retail inflation jumped to 4.38%, breaching the RBI’s medium-term target of 4%.

The RBI has proposed simplified and future-ready rules for foreign investments, aiming to enhance ease of doing business and streamline the regulatory framework.

Corporate News

• TVS Motor Company launched its TVS Raider motorcycle in Egypt.
• Innovision secured a toll collection and facility maintenance contract valued at ₹97.53 crore.
• Quint Digital successfully raised ₹50 crore through Non-Convertible Debentures (NCDs).
• JSW Energy increased its shareholding in Toshiba JSW Power Systems (TJPS) to 20.7% from 4.6% by acquiring additional equity shares for ₹150 crore.
• AVG Logistics expanded into the logistics and transportation segment for the liquor industry.

IPO Watch

Several IPOs are active or opening today:

• Xtranet Technologies Ltd.: Opens today, July 23, with a price band of ₹120-127.
• Lohia Corp Ltd.: Opens today, July 23, with a price band of ₹404-425.
• INDO-MIM Ltd.: Opens today, July 23, with a price band of ₹461-485.
• Cube Highways Trust – (CUBEINVIT): Currently open, closes July 24, with a price band of ₹151-152.
• Shree Balaji (Mala) Textiles Ltd.: Currently open, closes July 24, with a price band of ₹66-70.
• Metalic Technoforge Ltd.: Currently open, closes today, July 23, with a price band of ₹72-77.

Mutual Fund Flows

The mutual fund industry saw a net equity inflow of ₹63.58 crore on July 17, while debt funds experienced a net outflow of ₹1,729.96 crore on the same day.