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Trendlyne Marketwatch
23 Jul 2026
Market closes lower, dragged down by losses in realty and chemical stocks
By Trendlyne Analysis

 

Nifty 50 closed at 23,869.60 (-126.7, -0.5%), BSE Sensex closed at 76,391.39 (-363.7, -0.5%) while the broader Nifty 500 closed at 22,982.40 (-162.7, -0.7%). Market breadth is moving down. Of the 2,749 stocks traded today, 871 were in the positive territory and 1,821 were negative.

Indian indices closed in the red, dragged down by losses in realty and chemical stocks. The Indian volatility index, Nifty VIX, rose 1.4% and closed at 13.5 points. Dr Reddy's Laboratories plunged to its 52-week low of Rs 1,101 as its Q1FY27 net profit dropped 68.7% YoY to Rs 444.3 crore due to higher administrative and finance costs. Revenue declined 4.6% to Rs 8,454.5 crore, amid lower sales of generics globally. 

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty Auto and BSE Auto were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.3%.

Asian indices closed mixed, while European indices are trading lower. US index futures traded lower, indicating a cautious start to the trading session. The US and Iran exchanged strikes for the eleventh consecutive day, triggering a sharp decline in vessel traffic through the Strait of Hormuz. Supply disruption concerns intensified after Iran-backed Houthi forces in Yemen claimed responsibility for attacks on two Saudi oil tankers transiting the Bab el-Mandeb Strait, a critical maritime chokepoint. Meanwhile, President Trump warned Iran that any attack on a vessel transiting the Strait of Hormuz would be met with strikes on Iranian infrastructure, such as bridges or power plants.

  • Relative Strength Index (RSI) indicates that stocks like Kalyan Jewellers, Bluestone Jewellery and Jupiter Life Line Hospitals are in the overbought zone.

  • Mahindra Lifespace Developers is rising as its Q1FY27 net profit jumps 66.9% YoY to Rs 85.5 crore, helped by lower finance and depreciation & amortisation expenses. Revenue soars 24x to Rs 977.5 crore, supported by strong project execution. It features in a screener of stocks with improving book value per share over the past two years.

  • Ujjivan Small Finance Bank rises sharply as its net profit surges 3x YoY to Rs 316.5 crore in Q1FY27, helped by lower provisions and contingencies. Revenue increases 25.1% to Rs 2,024.9 crore, driven by improvement in the retail and wholesale banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 36 bps each.

  • PVR INOX is rising as it reports a profit of Rs 56.5 crore in Q1FY27, compared to a loss of Rs 54 crore a year ago. Revenue increases 10.4% to Rs 1,622.2 crore, supported by a strong mix of Hindi, English and regional films, higher cinema footfalls, increased ticket prices and greater spending on food and beverages. The company appears in a screener of stocks with a PEG ratio below the Industry average.

  • SpiceJet rises 10% to hit the upper circuit after reports of inducting three Airbus A320 aircraft under a damp-lease agreement. The airline is also in advanced talks with other lessors to induct additional aircraft in the coming months.

  • Geojit Financial Services is falling sharply as its Q1FY27 net profit drops 28.5% YoY to Rs 19.8 crore due to higher commission, employee benefits and finance costs. However, revenue grows 10.2% to Rs 169 crore, fueled by higher traction in the wealth management business. The company's board of directors approves appointing Jones George as the Managing Director (MD) for five years, succeeding CJ George, effective October 1.

  • Saatvik Green Energy's subsidiary, Saatvik Solar Industries, receives an order worth Rs 138 crore from a renowned independent Power producer to supply solar photovoltaic (PV) modules.

  • Sona BLW Precision Forgings' board of directors signs an agreement with Japan's DENSO Corp to form two joint ventures (JVs) to produce EV and hybrid powertrain components in India. Under the agreement, DENSO will acquire a 49% stake in Sona BLW's arm, Sona eDrive, at an enterprise value of Rs 1,750 crore. Separately, Sona BLW will divest its EV business to Sona eDrive for Rs 893.2 crore.

  • Ashlesh R. Parekh, Joint Managing Director of Gandhar Oil Refinery India, guides for FY27 revenue of Rs 4,500 crore. He also expects revenue growth and margin expansion to accelerate over the next two to three years. The company plans to open an office in South Africa and incur a capex of Rs 30–40 crore in FY27. Parekh remains confident of maintaining uninterrupted customer supplies, supported by the company's strong operational performance.

  • Waaree Renewable Technologies falls sharply as its Q1FY27 EBITDA margin contracts 72 bps YoY to 18.8% due to a less profitable project mix. However, net profit rises 34.1%, while revenue increases 53.2%, driven by higher solar EPC sales and the consolidation of Associated Power Structures’ transmission and distribution business. Its order book stands at over Rs 5,300 crore.

  • Hindustan Petroleum Corp is falling sharply as it reports a net loss of Rs 12,264.7 crore in Q1FY27 compared to a net profit of Rs 4,110.9 crore a year ago due to higher raw materials and inventory expenses. However, revenue jumps 26.8% YoY to Rs 1.4 lakh crore, supported by higher petroleum products sales and realisations. It shows up in a screener of stocks with PE higher than industry PE.

  • Oracle Financial Services Software's board of directors appoints Chief Financial Officer (CFO) Avadhut Ketkar as the Managing Director (MD) and Chief Executive Officer (CEO) for three years, succeeding Makarand Padalkar, effective July 24. The company's Q1FY27 net profit soars 120.5% YoY to Rs 1,415.5 crore, helped by increasing contribution from the high-margin licensing segment. Revenue jumps 66.4% to Rs 3,202.8 crore, thanks to higher software license sales, growth in cloud and support services, and strong demand for banking software.

  • Samir Dattani, Executive Director of Sanathan Textile, says the company has commenced Phase-1 operations at its greenfield polyester filament yarn facility in Wazirabad, Punjab, and is witnessing strong customer traction. He adds that the company aims to achieve full capacity utilization by FY28 following the initial ramp-up. Dattani expects margins in the yarn business to improve as operations scale up, supported by existing exports to the US and potential export gains from future free trade agreements (FTAs) with the EU and the US.

  • Tanla Platforms surges over 14% as its Q1FY27 net profit rises 20.1% YoY to Rs 142.2 crore, helped by lower finance costs and connectivity & bandwidth charges. Revenue increases 17.8% to a record Rs 1,226.4 crore, led by higher spending from existing customers and growth in Wisely.ai and other communication channels. Free cash flow turns positive at Rs 125.9 crore compared to an outflow of Rs 30.9 crore a year ago.

  • NTPC Green Energy is rising sharply as its Q1FY27 net profit jumps 38.3% YoY to Rs 304.8 crore, boosted by improved capacity utilisation. Revenue climbs 49.2% to Rs 1,121.7 crore, led by increasing power generation and electricity sales. It features in a screener of stocks with improving cash flow from operations over the past two years.

  • Schaeffler India is falling as its Q1FY27 net profit misses Forecaster estimates by 4.7% despite growing 13.5% YoY to Rs 325.8 crore due to higher input, inventory, finance and depreciation & amortisation costs. Revenue jumps 16.8% to Rs 2,797.3 crore, fueled by higher demand in the automotive tech, vehicle lifetime solutions and bearings & industrial solutions segments. It shows up in a screener of stocks with high valuations according to Trendlyne Valuation scores.

  • JP Morgan maintains an 'Underweight' rating on IndusInd Bank with a higher target price of Rs 820. The brokerage says that the Q1 earnings beat was primarily driven by lower provisions, while core net interest income (NII) remained broadly in line with expectations. It notes that core net interest margin (NIM) contracted slightly despite improving asset quality. The bank retained its FY27 guidance of industry-level loan growth and a 1% exit return on assets (RoA). It adds that the stock's current valuation already reflects the anticipated recovery.

  • Suzlon Energy secures an order from Waaree Forever Energies to supply 64 wind turbine generators (WTGs) for a 201.6 megawatt (MW) project in Andhra Pradesh.

  • Eternal (Zomato) is rising sharply as its Q1FY27 net profit soars 3.7x YoY to Rs 92 crore, supported by increasing profitability in the quick commerce business. Revenue surges 2.7x to Rs 20,586 crore, driven by ramp-up of the quick commerce & going-out segments and growth in food delivery. It features in a screener of stocks with increasing revenue for the past eight quarters.

  • Tips Music rises sharply as its management retains its FY27 guidance of 20% growth in both revenue and net profit. It also expects annual EBITDA margins of 65–70%, as revenue from recent music releases begins to flow in. Q1FY27 revenue rises 20.9% YoY to Rs 106.5 crore, while net profit declines 4.7% to Rs 43.7 crore due to a 90% increase in content costs. The board will consider a share buyback on August 5.

  • Bernstein retains an 'Outperform' rating on Tata Power with a target price of Rs 430. The brokerage believes the company's latest pumped storage project could deliver an equity internal rate of return (IRR) exceeding 20%, with the initial equity investment recovered in around five years under a 40-year contract. It views Tata Power as one of the biggest beneficiaries of India's strategic transition toward pumped hydro storage.

  • CIE Automotive is falling sharply as its Q1FY27 net profit misses Forecaster estimates by 7.6% despite growing 15.8% YoY to Rs 235.6 crore due to higher input, staff, finance and depreciation & amortisation expenses. Revenue jumps 10.8% to Rs 2,649.2 crore, driven by higher sales in the domestic and European markets. It shows up in a screener of stocks with increasing costs for long-term projects.

  • Inox Green Energy is rising as its board of directors approves up to a Rs 600 crore fundraise by issuing equity or other securities through a qualified institutional placement (QIP) or other modes.

  • IndusInd Bank is falling as its revenue decreases 7.8% to Rs 11,309.9 crore, driven by lower contribution from the retail and treasury banking segments. However, net profit rises 46.5% YoY to Rs 1,002.5 crore in Q1FY27, helped by lower provisions and contingencies during the quarter. The bank's asset quality improves as its gross and net NPAs decline by 39 bps and 17 bps, respectively.

  • Dr Reddy's Laboratories pluges to its 52-week low of Rs 1,101 as its Q1FY27 net profit drops 68.7% YoY to Rs 444.3 crore due to higher administrative and finance costs. Revenue declines 4.6% to Rs 8,454.5 crore, amid lower sales of generics globally. It shows up in a screener of stocks with ongoing regulatory investigations or legal cases.

  • Nifty 50 was trading at 23,915.35 (-80.9, -0.3%), BSE Sensex was trading at 76,515.10 (-240.0, -0.3%), while the broader Nifty 500 was trading at 23,052.80 (-92.3, -0.4%).

  • Market breadth is highly negative. Of the 2,108 stocks traded today, 667 showed gains, and 1,368 showed losses.

Riding High:

Largecap and midcap gainers today include NTPC Green Energy Ltd. (97.22, 6.5%), Hero MotoCorp Ltd. (5,173.80, 3.7%) and Lloyds Metals & Energy Ltd. (1,930.60, 3.2%).

Downers:

Largecap and midcap losers today include SRF Ltd. (2,622.70, -8.5%), Adani Green Energy Ltd. (1,379.90, -6.3%) and IndusInd Bank Ltd. (1,005.50, -6.0%).

Movers and Shakers

15 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included NTPC Green Energy Ltd. (97.22, 6.5%), Graphite India Ltd. (657.90, 4.5%) and HEG Ltd. (623.85, 4.2%).

Top high volume losers on BSE were CIE Automotive India Ltd. (419, -11.3%), Vishal Mega Mart Ltd. (109.87, -1.9%) and Cipla Ltd. (1,393, -1.6%).

PVR INOX Ltd. (1,007.40, 1.5%) was trading at 12.5 times of weekly average. Oracle Financial Services Software Ltd. (10,843, -0.1%) and C.E. Info Systems Ltd. (1,081.85, 3.6%) were trading with volumes 11.0 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks made 52 week highs, while 9 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Bajaj Auto Ltd. (11,283.50, 2.6%), Bosch Ltd. (42,240, 1.6%) and Manappuram Finance Ltd. (352.45, 0.6%).

Stocks making new 52 weeks lows included - Dr. Reddy's Laboratories Ltd. (1,166.30, -1.4%) and Gujarat Energy Ltd. (263.15, -0.7%).

10 stocks climbed above their 200 day SMA including NTPC Green Energy Ltd. (97.22, 6.5%) and Graphite India Ltd. (657.90, 4.5%). 25 stocks slipped below their 200 SMA including CIE Automotive India Ltd. (419, -11.3%) and SRF Ltd. (2,622.70, -8.5%).

 
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