GIFT Nifty Opening Update`
GIFT Nifty opened today at 23,687.50. It is down -209.50 points (-0.88%) from yesterday’s close of 23,862.50— so the trend is negative.
The Indian stock market experienced a decline for the fourth consecutive session on Thursday, July 23, as increasing crude oil prices, driven by heightened tensions in the Middle East, persisted in dampening investor sentiment. The Sensex declined by 364 points, representing a decrease of 0.47%, concluding at 76,391.39. Meanwhile, the Nifty 50 experienced a drop of 127 points, equivalent to a 0.53% fall, finishing at 23,869.60. Broader markets underperformed relative to the benchmark indices, as evidenced by the Nifty Midcap 100 and Nifty Smallcap 100, both declining by 1%. “Markets remained under pressure on Thursday, extending their losing streak for the fourth consecutive session amid persistent geopolitical concerns. After a subdued start, the Nifty traded with a negative bias for most of the session. However, buying in select index heavyweights during the final hour helped trim some losses, with the index eventually settling at 23,869.60, down 0.53%,” said Ajit Mishra.
Mishra further noted that investor sentiment remained subdued as Brent crude prices climbed above the $98 per barrel mark following fresh attacks on oil tankers in the Red Sea, intensifying concerns over supply disruptions. Ongoing geopolitical tensions in the Middle East, lacklustre quarterly earnings from certain large-cap firms, and sustained depreciation of the rupee have collectively dampened market sentiment, leading to a cautious stance among participants.
Amid subdued market sentiments, certain stocks are expected to attract attention on Friday owing to their individual positive or negative catalysts.
Equities to Monitor:
- NTPC, Shriram Finance, Hindustan Zinc, Steel Authority of India, and KFin Technologies are set to capture attention as these firms unveil their Q1 results for 2026 today.
- InterGlobe Aviation, the parent company of IndiGo, reported a consolidated net loss of Rs 238 crore for the June quarter, contrasting with a net profit of Rs 2,176 crore in the same period last year. This downturn is attributed to increased aviation turbine fuel costs, a depreciating rupee, and disruptions in West Asia, which have counterbalanced strong revenue growth.
- Infosys – The technology services company based in Bengaluru has adjusted its revenue growth guidance for FY27 to a range of 1.5% to 3%.
- Motilal Oswal Financial Services on Thursday reported a 14.04% year-on-year increase in operating profit to Rs 609 crore for the first quarter of FY27, up from Rs 534 crore in the corresponding period last year.
- Suryoday Small Finance Bank reported a 114% year-on-year increase in net profit to Rs 75 crore for the first quarter of FY27, compared to Rs 35 crore in the corresponding quarter last year.
- Cyient on Thursday posted a 90% sequential rise in consolidated net profit to Rs 104 crore for the first quarter of FY27, against Rs 55 crore in the preceding quarter.
- Shadowfax Technologies – A block deal has been initiated in third-party logistics company Shadowfax Technologies Ltd, with Eight Roads, Flipkart, and IMM India Fund seeking to divest up to a 9.08% stake in the company.
- Meesho reported a net loss of Rs 133 crore for the quarter ending June 30, 2026, an improvement from the loss of Rs 289 crore recorded in the same quarter of the previous year, as stated in its shareholder letter.