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Markets relinquish gains to trade flat in late afternoon session
Jul-30-2026

Indian equity benchmarks relinquished earlier gains to trade flat in late afternoon session amid brent crude oil prices hovering around $91 per barrel mark, which sparked fears of slower economic expansion and high inflation. Global crude oil prices remained elevated amid a sudden reversal in the gulf situation after Iran launched surprise attacks on U.S. bases in Jordan while joint U.S.-Saudi Arabian forces targeted Iran-linked militants in Iraq. However, losses remained capped as foreign institutional investors remained the net buyers of securities worth Rs 2,981.87 crore in yesterday’s session. Besides, traders took note of report that US Federal Reserve kept the federal funds rate unchanged at 3.50%-3.75% for a fifth consecutive meeting in July 2026. 

On the global front, Asian equity markets were trading mixed amid escalating Middle East tensions. European equity markets were trading higher after data showed Eurozone’s industrial confidence improved more than expected in July 2026.

The BSE Sensex is currently trading at 77643.62, down by 10.98 points or 0.01% after trading in a range of 77440.91 and 77900.73. There were 12 stocks advancing against 18 stocks declining on the index.

The top gaining sectoral indices on the BSE were Auto up by 0.74%, Energy up by 0.60%, Oil & Gas up by 0.28%, TECK up by 0.20% and PSU up by 0.11%, while Realty down by 2.23%, Capital Goods down by 0.95%, Industrials down by 0.72%, Basic Materials down by 0.63% and Bankex down by 0.39% were the top losing indices on BSE.

The top gainers on the Sensex were Mahindra & Mahindra up by 1.89%, Tech Mahindra up by 1.82%, Reliance Industries up by 1.15%, Power Grid Corporation up by 1.10% and HCL Technologies up by 1.06%. On the flip side, Adani Ports &Special down by 3.45%, Eternal down by 1.93%, Ultratech Cement down by 1.55%, Interglobe Aviation down by 1.34% and Bajaj Finserv down by 1.24% were the top losers.

Meanwhile, at a time when threat of additional tariffs looms in front of India for buying Russian oil, the think tank Global Trade Research Initiative (GTRI) has suggested that decisions on crude oil imports should be guided by India's economic interests, energy security and strategic autonomy, rather than the threat of additional US tariffs. Recently, the US Senate voted to advance a Russia sanctions bill that could authorise US President Donald Trump to impose tariffs of up to 100% on countries buying Russian oil, including India. 

With US steadily expanding its use of trade and economic measures to pursue strategic objectives, GTRI has suggested that India should continue sourcing Russian crude as long as its commercially viable, while managing differences with Washington through dialogue and negotiation. 

Highlighting the impact of Russia sanctions bill, it noted that India could face greater pressure under the proposed legislation despite China being the world's largest buyer of Russian crude oil. It pointed that Russia is India's largest oil supplier and access to discounted Russian crude has significantly lowered the country’s import bill, supported energy security, and helped contain inflation. In FY26, Russia supplied 30.3% of India's crude oil imports worth $40.8 billion out of total crude imports of $134.7 billion.

The CNX Nifty is currently trading at 24246.60, down by 3.60 points or 0.01% after trading in a range of 24187.10 and 24331.40. There were 24 stocks advancing against 26 stocks declining on the index.

The top gainers on Nifty were Wipro up by 1.85%, ONGC up by 1.67%, Tech Mahindra up by 1.61%, Coal India up by 1.61% and Max Healthcare Institute up by 1.58%. On the flip side, Adani Ports & SEZ down by 3.38%, Shriram Finance down by 2.13%, Eternal down by 1.88%, HDFC Life Insurance down by 1.72% and Ultratech Cement down by 1.60% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 surged 475.81 points or 0.77% to 61,910.00, Hang Seng advanced 68.08 points or 0.26% to 25,876.00 and Jakarta Composite gained 69.26 points or 1.12% to 6,160.65, while Taiwan Weighted lost 105.88 points or 0.27% to 39,933.30, KOSPI dropped 69.68 points or 1.25% to 5,593.56, Straits Times fell 36.91 points or 0.65% to 5,676.28 and Shanghai Composite weakened 23.78 points or 0.63% to 3,804.69.

European equity markets were trading higher; UK’s FTSE 100 increased 43.48 points or 0.4% to 10,951.89, France’s CAC rose 66.23 points or 0.78% to 8,474.50 and Germany’s DAX gained 2.52 points or 0.01% to 25,463.00.
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