Pre-Market Brief: Nifty Dips Below 24,000; FIIs Extend Selling Streak for Third Session | 23 Jul 2026, 08:00 AM IST
By ThePip Desk
Nifty 50 closed at 23996.25, a −0.79% drop, pushing it below the 24,000 mark. FIIs recorded their third consecutive selling session. This signals a cautious open for Thursday’s trading.
Nifty 50 closed at 23996.25, a −0.79% drop, pushing the index below the 24,000 mark. This decline was accompanied by Foreign Institutional Investors (FIIs) extending their selling streak for a third consecutive session on Wednesday, offloading −₹819.2 crore from Indian equities. Domestic Institutional Investors (DIIs) also turned net sellers, recording −₹418.26 crore in outflows.
Index Snapshot
| Name | Close | Change% |
|---|---|---|
| Nifty 50 | 23996.25 | −0.79% |
| Nifty Bank | 57126.80 | −1.23% |
| NIFTY Midcap 100 | 62300.60 | −1.09% |
The broader market also experienced pressure, with Nifty Bank shedding −1.23% and NIFTY Midcap 100 declining by −1.09%. Market breadth for the Nifty 50 saw 26 advances against 24 declines, indicating a relatively balanced but overall negative sentiment.
FII and DII Flows
Foreign Institutional Investors (FIIs) were net sellers for the third consecutive session on July 22, with outflows of −₹819.2 crore. This follows significant selling on July 20 (−₹1121.04 crore) and July 17 (−₹376.41 crore), and a substantial −₹4205.56 crore on July 16. Domestic Institutional Investors (DIIs) also recorded net selling of −₹418.26 crore on Wednesday, breaking a trend of net buying in the preceding sessions.
Sector Watch
Among sectors, only two managed to close in positive territory, recording gains of +0.65% and +0.18% respectively. The steepest declines were observed in sectors that fell by −2.63%, −1.84%, and −1.50%. Other sectors also experienced pressure, declining by −1.31% and −1.29%.
Top Movers
Bajaj Auto Ltd. (+5.72%) led the Nifty 50 gainers, closing at ₹10998.5. Nestle India Ltd. (+2.87%) and Tata Consumer Products Ltd. (+1.24%) also posted notable gains. Power Grid Corporation Of India Ltd. (+0.91%) and Oil & Natural Gas Corporation Ltd. (+0.80%) rounded out the top five.
On the losing side, Interglobe Aviation Ltd. (INDIGO) saw the sharpest decline, falling −3.54% to ₹5117. JIO Financial Services Ltd. (−2.18%), Infosys Ltd. (−1.99%), Dr. Reddy’s Laboratories Ltd. (−1.92%), and State Bank Of India (−1.86%) were among the other significant decliners.
What to Watch at 9:15
Given the Nifty’s close below 24,000 and continued FII selling, market participants will closely monitor opening cues for potential follow-through selling or signs of a rebound.