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Benchmarks continue to trade on weak note
Jul-24-2026

Indian equity benchmarks continued their weak trade in morning session as investors reacted to surging crude oil prices, weak global cues from Wall Street and disappointing June-quarter earnings from several companies. Traders remained cautious as a survey showed India's private sector growth skidded to its weakest in over four years in July as a sharp slowdown in services constrained overall expansion even though rising export orders and hiring offered limited support. HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P ‌Global, fell ⁠to 54.3 ⁠in July from June's 57.1. However, the index remained above the 50-mark separating growth from contraction. On the global front, Asian markets were trading lower following the broadly negative cues from Wall Street overnight, amid tumbling technology stocks, and 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 is currently trading at 75565.27, down by 826.12 points or 1.08% after trading in a range of 75474.43 and 75995.73. There was 1 stock advancing against 29 stocks declining on the index.

The top losing sectoral indices on the BSE were Telecom down by 2.38%, Realty down by 1.58%, TECK down by 1.57%, Auto down by 1.46% and Consumer Discretionary down by 1.43%, while there was no gaining sectoral index on the BSE. 

The lone gainer on the Sensex was ITC up by 0.28%. On the flip side, Eternal down by 3.21%, Bajaj Finance down by 3.15%, Infosys down by 2.70%, Bharti Airtel down by 2.55% and Interglobe Aviation down by 2.50% were the top losers. 

Meanwhile, 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. The agreement came after President of India Droupadi Murmu, who is on a state visit to Romania, held productive and forward-looking discussions covering all major dimensions of bilateral ties with her Romanian counterpart Nicusor Dan.

The President stated ‘We reviewed the progress made in recent years and agreed to further deepen cooperation across areas of priority for our two countries.’ The President said that economic cooperation remains an important pillar of the India-Romania partnership. 

The President said that Romania is an important partner for India within the European Union. She underlined that the India-EU Free Trade Agreement will open unprecedented opportunities for the industries and skilled professionals of the two countries.

The CNX Nifty is currently trading at 23637.15, down by 232.45 points or 0.97% after trading in a range of 23606.30 and 23763.55. There were 8 stocks advancing against 42 stocks declining on the index.

The top gainers on Nifty were Cipla up by 2.36%, Nestle India up by 0.93%, ITC up by 0.28%, Bajaj Auto up by 0.17% and HDFC Life Insurance up by 0.15%. On the flip side, Bajaj Finance down by 3.14%, Shriram Finance down by 3.03%, Eternal down by 2.93%, Bharti Airtel down by 2.54% and Infosys down by 2.34% were the top losers.

All Asian markets were trading lower; Nikkei 225 slipped 1923.6 points or 2.9% to 64,499.00, Taiwan Weighted lost 1120.28 points or 2.5% to 43,730.53, Jakarta Composite plunged 110.68 points or 1.78% to 6,204.63, Shanghai Composite weakened 31.33 points or 0.81% to 3,845.45, KOSPI dropped 314.49 points or 4.43% to 6,782.40, Hang Seng declined 288.81 points or 1.15% to 24,922.00 and Straits Times fell 24.19 points or 0.43% to 5,557.57. 
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