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Post Session: Quick Review
Jul-24-2026

A losing streak continued in Indian equity markets for the fifth straight session on Friday, with both Sensex and Nifty ending lower by 0.43% each. After a negative start, indices lingered in deep red during the first half of the session, as surging oil prices amid escalating Middle East tensions fueled concerns over energy-driven inflation. In the second half of the session, markets witnessed recovery but failed to close above neutral lines. 

Some of the important factors in trade:

India’s private sector activity witnesses slowest pace of expansion in July: Sentiments remained downbeat, as the HSBC Flash India PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - was down from a final reading of 57.1 in June to 54.3 in July.

DPIIT permits FDI in inventory-based model of e-commerce ‘exclusively’ for export purposes: The street overlooked report stating that the Department for Promotion of Industry and Internal Trade (DPIIT) has permitted foreign direct investment (FDI) in an inventory-based model of e-commerce ‘exclusively’ for export purposes.

India, Romania agree to boost bilateral trade, defence cooperation: Traders also took a note of reports that India and Romania have agreed to double their bilateral trade over the next three years. The two countries also agreed to strengthen cooperation in defence, among other key areas of bilateral partnership.

Mixed global cues: European markets were trading higher, while Asian markets ended mostly lower, amid spiking crude oil prices on concerns of a wider conflict in the Middle East set off by new attacks by the Iran-backed Houthi's in Yemen on two Saudi Arabian tankers in the Red Sea for violating their maritime blockade.

The BSE Sensex ended at 76059.77, down by 331.62 points or 0.43% after trading in a range of 75474.43 and 76210.95. There were 10 stocks advancing against 20 stocks declining on the index. (Provisional)

The few gaining sectoral indices on the BSE were IT up by 0.66%, FMCG up by 0.20% and Bankex up by 0.18%, while Auto down by 0.96%, Telecom down by 0.90%, Power down by 0.67%, Consumer Disc down by 0.65% and Oil & Gas down by 0.65% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were HCL Technologies up by 2.16%, ITC up by 0.60%, TCS up by 0.55%, Trent up by 0.52% and Kotak Mahindra Bank up by 0.38%. On the flip side, Bajaj Finance down by 2.53%, Eternal down by 2.35%, Mahindra & Mahindra down by 2.10%, Bharti Airtel down by 1.80% and Asian Paints down by 1.22% were the top losers. (Provisional)

Meanwhile, India Ratings and Research (Ind-Ra) in its latest report has said that India's electric vehicle (EV) market is entering a broader scale-up phase, with EV penetration expected to rise to 10-12 per cent of total vehicle sales in FY27, up from 8.5 per cent in FY26, led primarily by the growing adoption of electric two-wheelers (e-2Ws). The agency expects EV uptake to remain strongest in vehicle segments where the economics of electrification are already compelling. 

According to Ind-Ra, electric two-wheeler penetration is projected to increase to 8-10 per cent in FY27, compared with 6.6 per cent in FY26, supported by lower operating costs, convenient home-charging facilities, and an expanding product portfolio from established automakers. Similarly, electric three-wheelers (e-3Ws) are expected to remain the most electrified vehicle segment, with penetration likely to rise to 62-65 per cent in FY27 from 59 per cent in FY26, driven by favourable operating economics for commercial operators and continued government support. 

The report noted that electrification in long-distance mobility segments is likely to progress at a slower pace, as consumers continue to weigh higher upfront vehicle costs, charging infrastructure availability, and driving-range concerns. However, the electric passenger vehicle (PV) segment is expected to witness robust growth from a relatively low base, with penetration projected at 6-8 per cent in FY27, up from 4.4 per cent in FY26, supported by new model launches. It added that EV adoption in the passenger vehicle segment will remain concentrated in metropolitan areas and among higher-income consumer segments. 

Ind-Ra also expects electric bus penetration to increase to 6-8 per cent in FY27, compared with 4.37 per cent in FY26, aided by strong order pipelines and government procurement programmes, although deployment will continue to depend on infrastructure readiness across state transport undertakings. Overall, it believes India's EV market continues to offer strong growth potential, supported by lower ownership costs, improving use-case economics, a wider range of vehicle options, and increasing consumer acceptance.  

The CNX Nifty ended at 23767.45, down by 102.15 points or 0.43% after trading in a range of 23606.30 and 23823.60. There were 17 stocks advancing against 33 stocks declining on the index. (Provisional)

The top gainers on Nifty were HCL Technologies up by 2.11%, Wipro up by 1.32%, Cipla up by 1.26%, ITC up by 0.76% and HDFC Life Insurance up by 0.74%. On the flip side, Bajaj Finance down by 2.60%, Eternal down by 2.47%, Mahindra & Mahindra down by 2.11%, Shriram Finance down by 2.02% and Tata Consumer Products down by 1.78% were the top losers. (Provisional)

All European markets were trading higher; UK’s FTSE 100 increased 46.25 points or 0.43% to 10,685.42, France’s CAC rose 34.81 points or 0.42% to 8,333.90 and Germany’s DAX gained 219.78 points or 0.89% to 24,982.90.

Asian markets settled mostly lower on Friday tracking Wall Street’s fall overnight as US President Doanld Trump threatened both Iran and Yemen's Houthi rebels with ‘major military punishment’ after Houthis launched missile and drone strikes on oil tankers in the Red Sea to enforce a blockade on Saudi Arabia, which pushed the price of benchmark Brent crude past $100 for the first time since May. Market sentiments weakened further after the United States imposed new tariffs of either 10% or 12.5% on goods from its top 60 trading partners, including China, India, Japan and the European Union, accusing them of failing to halt imports of goods made with forced labor. China faces a new 12.5% levy, raising its effective US tariff rate to 22.2%. Japanese markets tumbled after data showed that Japan's core inflation rate rose to 1.6% in June but stayed below the Bank of Japan's 2% target for the fifth month in a row. Meanwhile, the Japanese yen was pinned near 40-year lows, drawing a warning from the US Treasury Department that excess volatility in the currency was undesirable. The Treasury also called for further interest rate hikes by the Bank of Japan. Moreover, South Korea’s Kospi index plummeted nearly 6% amid concerns that the semiconductor super cycle may have passed its peak.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,814.20

-62.58

-1.61

Hang Seng

24,963.23

-247.58

-0.98

Jakarta Composite

6,196.43

-118.88

-1.92

KLSE Composite

1,701.02

-13.57

-0.79

Nikkei 225

64,611.15

-1,811.45

-2.73

Straits Times

5,588.34

6.58

0.12

KOSPI Composite

6,690.62

-406.27

-5.72

Taiwan Weighted

43,654.84

-1,195.97

-2.67
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