Pre-Market Brief: Nifty 50 Plunges Over 500 Points; FIIs Turn Buyers Ahead of Thursday Open | 09 Jul 2026, 08:00 AM IST
By ThePip Desk
Nifty 50 closed sharply lower, shedding −517 points, while Nifty Bank also saw significant declines. FIIs turned net buyers, injecting +1962.8 cr, indicating a potential shift in sentiment for the 9:15 AM open.
Indian equity benchmarks experienced a significant downturn on Wednesday, 08 July 2026, with the Nifty 50 closing at 23882.05, registering a sharp decline of −2.12% or −517 points. This broad-based selling pressure also impacted the Nifty Bank, which fell by −2.51%, shedding −1458 points to settle at 56742.60. The NIFTY Midcap 100 also saw a notable dip, closing −1.55% lower at 61322.75.
Market Snapshot
| Index | Close | Change (%) |
|---|---|---|
| Nifty 50 | 23882.05 | −2.12% |
| Nifty Bank | 56742.60 | −2.51% |
| NIFTY Midcap 100 | 61322.75 | −1.55% |
Market breadth for the Nifty 50 was relatively balanced despite the overall decline, with 26 advances and 24 declines. All listed sectors experienced negative closes, ranging from a −0.97% dip to a steeper −2.72% fall, indicating widespread selling across the board.
Top Movers
Among the Nifty 50 constituents, Oil & Natural Gas Corporation Ltd. (ONGC) emerged as the top gainer, rising +1.15% to ₹247. Bajaj Auto Ltd. (BAJAJ-AUTO) also saw gains, up +0.54% to ₹10164, followed by Hindalco Industries Ltd. (HINDALCO) with a +0.22% increase to ₹971.65, and Coal India Ltd. (COALINDIA) marginally up +0.02% to ₹429.05.
Conversely, JIO Financial Services Ltd. (JIOFIN) led the declines, falling −5.38% to ₹229.99. Interglobe Aviation Ltd. (INDIGO) dropped −5.02% to ₹5124, and Shriram Finance Ltd. (SHRIRAMFIN) closed −4.91% lower at ₹1014.4. Maruti Suzuki India Ltd. (MARUTI) and Hindustan Unilever Ltd. (HINDUNILVR) also experienced significant selling, down −4.04% and −3.31% respectively.
FII / DII Flows
Foreign Institutional Investors (FIIs) showed a notable shift in their activity on July 8th, turning net buyers with an inflow of +1962.8 cr. This comes after a single session of net selling on July 2nd, where FIIs offloaded −311.82 cr. Domestic Institutional Investors (DIIs) also remained net buyers on July 8th, contributing +790.16 cr. Over the last five sessions, FII activity has been mixed, but the latest data indicates renewed institutional interest.
What to Watch at 9:15
Given yesterday’s sharp market correction across major indices and the renewed buying interest from both FIIs and DIIs, traders will keenly observe the opening cues for potential volatility or a stabilization attempt at 9:15 AM IST.