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Trendlyne Marketwatch
24 Jul 2026
Market closes lower as Brent crude crosses $100 amid escalating Middle East tensions
By Trendlyne Analysis

 

Nifty 50 closed at 23,767.45 (-102.2, -0.4%), BSE Sensex closed at 76,059.77 (-331.6, -0.4%) while the broader Nifty 500 closed at 22,913.30 (-69.1, -0.3%). Market breadth is even. Of the 2,754 stocks traded today, 1,393 were on the uptrend, and 1,300 went down.

Indian indices closed lower as Brent crude oil crossed $100 per barrel amid escalating tensions in the Middle East. The Indian volatility index, Nifty VIX, rose 4.1% and closed at 14 points. India’s Services Purchasing Managers’ Index (PMI) fell to 54.3 in July from 57.1 in June, marking the slowest expansion in private-sector activity since March 2022. Growth was affected by challenging market conditions, order cancellations, fewer client enquiries and shortages of key raw materials.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty REITs & Realty and Nifty Auto are among the top index losers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of 1.3%.

Asian markets closed lower, except for Thailand’s SET. European markets traded higher, except for Russia’s RTSI and MOEX. US index futures traded higher. Investors tracked US President Donald Trump’s new tariffs on imports from 60 countries, while awaiting the US flash manufacturing and services PMI data for July, due today. Meanwhile, Brent crude oil futures surged as the US completed a 13th consecutive night of strikes on Iran.

  • Money flow index (MFI) indicates that stocks like Timken India, Dr Reddy's Laboratories and Patanjali Foods are in the oversold zone.

  • Ramco Systems plunges to its 10% lower limit as its Q1FY27 net profit falls 36.3% YoY to Rs 0.6 crore, pressured by higher administrative expenses and taxes. However, revenue rises 6.2% to Rs 175 crore, supported by growth in recurring revenue and the payroll business during the quarter. The company appears in a screener of stocks with a PE ratio above the Industry average.

  • HCL Technologies is rising as it signs a memorandum of understanding (MoU) with the Odisha Government and Sarvam to set up a Rs 14,257 crore AI data centre in Odisha Sovereign AI Park. The company will develop the data centre in partnership with Sarvam, while the government will fund a part of the above-mentioned capex.

  • Apar Industries is rising as its Q1FY27 net profit soars 77.8% YoY to Rs 467.5 crore, driven by inventory destocking. Revenue jumps 29.2% to Rs 6,624.7 crore, fueled by higher conductor, transformer & specialty oils and power & telecom cable sales. It features in a screener of stocks with the highest recovery from their 52-week lows.

  • SBI Funds Management slips below its IPO price after listing, but brokerages remain bullish on the stock. Emkay initaites a 'Buy' rating on the stock with a target price of Rs 750. The brokerage expects SBI Funds Management to benefit from India's long-term mutual fund growth, backed by SBI's strong brand, extensive distribution network and low mutual fund penetration among its banking customers. It also anticipates a shift towards higher-yielding products, including equity funds and alternative investments, to drive revenue growth.

  • Swiggy is falling sharply as its board of directors approves capping foreign ownership to 49.5% raising fears of an outflow of up to $500 million (~Rs 4,821.7 crore) due to lower weightages in the MCSI and FTSE indices. The move is part of the company's goal to qualify as an Indian-owned-and-controlled company (IOCC), allowing the company to directly own and sell inventory through its quick commerce brand Instamart. This will improve Swiggy's margins and strengthen supply chain control.

  • Shadowfax Technologies is falling as 9.3 crore shares (or 16.2% stake) worth Rs 1,938 crore reportedly change hands in multiple block deals at an average price of Rs 206 per share. Earlier, Eight Roads, Flipkart and IMM India Fund proposed to sell their stake in the company through block deals.

  • Coforge is rising as it secures a five-year contract worth over $230 million from a major European client for an AI-led business transformation programme. The company will use AI-powered automation and software-development tools to modernise the client’s operations, reduce manual work and speed up service delivery.

  • The Indian government announces a Rs 40,000 crore corpus for scientific mine closures and signs an agreement with Germany's GIZ to strengthen mine closure, land restoration and post-mining development. The move is expected to benefit Central Mine Planning & Design Institute through increased opportunities in feasibility studies, mine closure planning and technical execution.

  • Fractal Analytics is falling sharply as its Q1FY27 net profit drops 37% QoQ to Rs 74.2 crore due to higher employee benefits expenses and share of loss from subsidiary. However, revenue grows 2.2% to Rs 932.1 crore, thanks to increased traction in the Fractal.ai segment. It shows up in a screener of stocks with an increasing trend in non-core income.

  • Motilal Oswal Financial Services plunges over 7% as it reports declining net profits from the core wealth management and capital markets businesses in Q1FY27. Overall, net profit rises 9.6% YoY to Rs 1,273.1 crore, supported by a treasury gain of Rs 1,105 crore. Revenue jumps 25.1% to Rs 3,432.2 crore, led by higher traction in treasury investments, asset & private wealth management and home finance segments.

  • Larsen & Toubro's hi-tech manufacturing arm, L&T Heavy Engineering, secures international orders worth Rs 2,500–5,000 crore. The orders include equipment for refinery and fertiliser expansion projects in Nigeria and Ethiopia, an LNG project in Canada, and industrial projects in Spain, the US and Brazil.

  • Indian auto and aviation stocks, including Hero MotoCorp, InterGlobe Aviation and Mahindra & Mahindra, decline as Brent crude hovers near $100 a barrel, fuelling concerns over higher fuel and input costs amid escalating tensions in the Middle East. The spike in crude prices also revives fears of rising inflation, tighter global monetary policy and slower economic growth, adding to concerns over corporate margins.

  • MphasiS falls as its Q1FY27 net profit declines 3.9% QoQ to Rs 489.5 crore due to higher employee benefits and tax expenses. However, revenue climbs 2.7% to Rs 4,466.9 crore, led by strong demand in the banking & financial services and technology, media & telecom segments. It shows up in a screener of stocks with high promoter pledges.

  • Suryoday Small Finance Bank soars to its 52-week high of Rs 218 as its Q1FY27 net profit surges 113.1% YoY to Rs 75.2 crore, boosted by lower provisions. Revenue jumps 27.6% to Rs 770.2 crore, fueled by improvements in the treasury operations, retail & corporate banking segments. The bank's asset quality improves as its gross and net NPAs drop 186 bps and 437 bps, respectively.

  • Meesho is falling sharply as it projects net merchandise value (NMV) to drop in Q2FY27 as it shifts its Mega Blockbuster Sale to Q3. Separately, the company's Q1FY27 net loss contracts 54.1% YoY to Rs 132.8 crore due to a higher base in Q1FY26 caused by an exceptional loss from the acquisition of Meesho Grocery. Revenue jumps 45.5% to Rs 3,826.4 crore, supported by higher order values and advertising, logistics & value-added service income.

  • Citi maintains a 'Buy' rating on Astral with a target price of Rs 1,900. The brokerage highlights the benefits from a government imposed six-month minimum import price (MIP) on PVC resin, which has helped stabilize domestic prices at around Rs 85 per kg. It adds that the MIP is preventing further channel destocking and supporting price floors close to import parity levels of $760 per tonne.

  • Thyrocare Technologies is rising as its net profit grows 34.1% YoY to Rs 52.2 crore in Q1FY27. Revenue jumps 24.3% to Rs 240 crore, driven by growth in the pathology business due to a higher number of tests during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Caliber Mining and Logistics' shares debut on the bourses at a 18% premium to the issue price of Rs 424. The Rs 450 crore IPO received bids for 146.6 times the total shares on offer.

  • Cemindia Projects' board of directors approves a Rs 5,000 crore fundraise by issuing equity shares through a qualified institutional placement (QIP) or other modes.

  • India’s services PMI declines to 54.3 in July from 57.1 in June, recording the slowest expansion in private sector activity since March 2022. Growth was weighed down by challenging market conditions, intense competition, order cancellations, fewer client enquiries, and shortages of key raw materials.

  • Cyient is falling as its Q1FY27 net profit misses Forecaster estimates by 21.8% despite soaring 90% QoQ to Rs 104.1 crore due to higher staff, input and finance costs. Revenue grows 6.6% to Rs 2,082.6 crore, driven by traction in the digital, engineering & technology (DET), design-led manufacturing (DLM) and semiconductor segments. It appears in a screener of stocks with medium to low Trendlyne Momentum scores.

  • InterGlobe Aviation (Indigo) is falling as it reports a net loss of Rs 237.6 crore in Q1FY27 compared to a net profit a year ago due to higher aviation turbine fuel (ATF) cost. However, revenue jumps 18.9% YoY to Rs 25,614.1 crore, driven by higher passenger traffic amid expansion of routes. It shows up in a screener of stocks with declining returns on equity (RoE) over the past two years.

  • Aurobindo Pharma is rising after its subsidiary, Apitoria Pharma, approves the acquisition of an 80% stake in A1 Biochem Group’s contract research business for $13.6 million (around Rs 131 crore). The deal expands its presence across the API development cycle.

  • Infosys' Q1FY27 net profit declines 8.6% QoQ to Rs 7,769 crore due to the absence of a Rs 774 crore tax provision reversal recorded in the previous quarter and higher tax expenses. However, revenue rises 3.9% to Rs 48,211 crore, helped by currency movements and strong growth in the life sciences segment. The company appears in a screener of stocks with a PEG ratio below the Industry average.

  • Nifty 50 was trading at 23,751.70 (-117.9, -0.5%), BSE Sensex was trading at 75,708.19 (-683.2, -0.9%), while the broader Nifty 500 was trading at 22,871.35 (-111.1, -0.5%).

  • Market breadth is highly negative. Of the 2,132 stocks traded today, 622 showed gains, and 1,426 showed losses.

Riding High:

Largecap and midcap gainers today include Astral Ltd. (1,468.10, 3.9%), Persistent Systems Ltd. (5,195, 3.9%) and Au Small Finance Bank Ltd. (1,013.10, 3.5%).

Downers:

Largecap and midcap losers today include GE Vernova T&D India Ltd. (4,157.40, -4.0%), Swiggy Ltd. (251.42, -3.9%) and Mahindra & Mahindra Financial Services Ltd. (356.50, -3.7%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included KPIT Technologies Ltd. (583.20, 5.9%), PVR INOX Ltd. (1,063.95, 5.6%) and Atul Ltd. (6,407.50, 4.5%).

Top high volume losers on BSE were Go Digit General Insurance Ltd. (256.20, -8.8%), Motilal Oswal Financial Services Ltd. (871.95, -7.3%) and Acutaas Chemicals Ltd. (3,259.50, -5.8%).

Cyient Ltd. (840.05, 1.1%) was trading at 15.8 times of weekly average. Nuvama Wealth Management Ltd. (1,980.10, 1.7%) and Sapphire Foods India Ltd. (179.12, -0.5%) were trading with volumes 10.3 and 9.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks overperformed with 52 week highs, while 12 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Laurus Labs Ltd. (1,601.20, 2.1%), Sona BLW Precision Forgings Ltd. (717.95, -0.3%) and Lloyds Metals & Energy Ltd. (1,940.50, 0.5%).

Stocks making new 52 weeks lows included - Gujarat Energy Ltd. (265.45, 0.9%) and Jubilant Foodworks Ltd. (418.30, 1.5%).

4 stocks climbed above their 200 day SMA including PVR INOX Ltd. (1,063.95, 5.6%) and Atul Ltd. (6,407.50, 4.5%). 28 stocks slipped below their 200 SMA including Motilal Oswal Financial Services Ltd. (871.95, -7.3%) and Endurance Technologies Ltd. (2,630, -3.3%).

 
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