Pre-Market Brief: Nifty 50 Closes Below 23900 as FIIs Extend Selling Streak | 24 Jul 2026, 08:00 AM IST
By ThePip Desk
Indian equities saw broad declines on Thursday, with Nifty 50 closing at 23869.60 amid significant FII selling. Domestic institutions provided support, setting the stage for a cautious open at 9:15 AM.
Indian equity benchmarks registered broad declines on Thursday, 23 July 2026, with the Nifty 50 shedding 127 points to close at 23869.60. This downturn was significantly influenced by sustained selling pressure from Foreign Institutional Investors (FIIs), who offloaded equities worth ₹2999.23 crore. However, Domestic Institutional Investors (DIIs) provided strong counter-support, injecting ₹2947.14 crore, mitigating a steeper market correction. All major indices closed in the red, setting a cautious tone for Friday’s trade.
Index Performance Snapshot
| Index | Close | Change% |
|---|---|---|
| Nifty 50 | 23869.60 | −0.53% |
| Nifty Bank | 56592.00 | −0.94% |
| NIFTY Midcap 100 | 61685.00 | −0.99% |
The NIFTY Midcap 100 experienced the steepest percentage decline, falling 0.99% or 616 points. The Nifty Bank also dropped 0.94%, losing 535 points. The benchmark Nifty 50 recorded a 0.53% decline, closing just below 23900. This broad-based weakness suggests a cautious sentiment across market segments.
Market Breadth and Sectoral Action
Despite the overall downward movement, Nifty 50’s market breadth remained relatively balanced, with 26 advances and 24 declines. Sectoral performance was predominantly negative. One unnamed sector posted modest gains of +0.70%. In contrast, another unnamed sector recorded the sharpest decline, falling −1.81%. Other key sectors saw declines ranging from −0.06% to −1.00%, reflecting varied investor sentiment.
Top Movers
Among the Nifty 50 constituents, Bajaj Auto Ltd. (+2.59%), SBI Life Insurance Company Ltd. (+2.59%), and Mahindra & Mahindra Ltd. (+1.71%) emerged as the top gainers. Conversely, Adani Enterprises Ltd. (−4.37%) led the losers, followed by Shriram Finance Ltd. (−3.12%) and Nestle India Ltd. (−3.06%). Adani Ports (−2.25%) and Bajaj Finance (−1.93%) also saw significant declines.
FII and DII Activity
Foreign Institutional Investors (FIIs) maintained a clear selling stance for two consecutive sessions, with Thursday’s net outflow of ₹2999.23 crore. This marks their fourth net selling session out of the last five. Domestic Institutional Investors (DIIs), however, consistently provided crucial counter-support, recording net inflows in four of the last five sessions. Their robust buying of ₹2947.14 crore on Thursday was almost perfectly matched to the FII outflow, demonstrating underlying domestic resilience.
As markets prepare for the 9:15 AM open, the ongoing tug-of-war between persistent FII selling and robust DII buying will be a key determinant of early market direction and overall sentiment.