Sensex ends flat, Nifty slips below 24,100 as profit booking caps rally
Domestic equity benchmarks surrendered most of their intraday gains on Thursday as investors booked profits amid weak global cues. The Nifty slipped below the 24,100 mark after touching an intraday high of 24,186.50 in morning trade. Sentiment remained cautious amid escalating US-Iran tensions, fuelling concerns over higher crude oil prices and their potential impact on global inflation. Meanwhile, a sell-off in global semiconductor stocks weighed on overseas markets. However, gains in IT, auto and consumer durable stocks helped limit the downside. Technically, the Nifty remains range-bound, with a decisive move above the 24,200-24,260 zone needed to revive bullish momentum, while a breach below 24,000 could trigger fresh selling.
The S&P BSE Sensex advanced 1.44 points or 0.00% to 77,186.67. The Nifty 50 index fell 5.75 points or 0.02% to 24,072.75.
Eternal (down 3%), SBI Life Insurance Company (down 2.27%) and HDFC Bank (down 0.87%) were major Nifty drags today.
In the broader market, the BSE 150 MidCap Index fell 0.30% and the BSE 250 SmallCap Index jumped 0.10%.
The market breadth was negative. On the BSE, 2,012 shares rose and 2,224 shares fell. A total of 213 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.92% to 12.88.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.32% to 6.753 compared with the previous session close of 6.775.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.3300 compared with its close of 96.2500 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement fell 0.19% to Rs 141,585.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 100.53.
The United States 10-year bond yield rose 0.62% to 4.573.
In the commodities market, Brent crude for September 2026 settlement fell 22 cents, or 0.26%, to $84.73 a barrel. Despite the decline, oil prices remained close to one-month highs amid escalating tensions in the Middle East. The United States continued military strikes on Iran, while Tehran warned that the conflict could escalate into an existential war with Washington.
Global Markets:
US Dow Jones futures were up 89 points, signalling a positive start for Wall Street later in the day.
European shares traded lower on Thursday as escalating military tensions between the United States and Iran kept oil prices near one-month highs, fuelling concerns over inflation and the global economic outlook.
The UK economy expanded 0.1% in May despite higher energy costs linked to the Iran conflict. According to the Office for National Statistics (ONS), growth was driven by a 0.3% increase in the services sector, partly offset by declines of 0.5% in production and 0.8% in construction. Scientific research was the biggest contributor to growth, with output in the sector rising 5.1% during the month.
Asian shares mostly ended lower as semiconductor stocks came under pressure ahead of quarterly results from Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker. Meanwhile, bonds gained after another softer-than-expected U.S. inflation reading eased concerns over near-term interest rate hikes.
In South Korea, the central bank raised its benchmark interest rate to 2.75%, the first increase in three-and-a-half years, as expected, to support the weakening won and curb persistent inflation.
Overnight, Wall Street ended higher as softer-than-expected inflation data and a strong start to the second-quarter earnings season boosted investor sentiment. The Dow Jones Industrial Average rose 150.91 points (0.3%) to 52,659.18, the S&P 500 gained 0.4% to 7,572.43, and the Nasdaq Composite advanced 0.6% to 26,269.23.
A weaker-than-expected U.S. producer price index (PPI) reinforced expectations that inflation is easing, supporting hopes that the Federal Reserve will keep interest rates unchanged. The U.S. PPI fell 0.3% in June after rising 1.1% in May.
Investor sentiment was also supported by strong earnings from major financial institutions, while lower Treasury yields boosted demand for growth stocks, particularly large-cap technology companies.
New Listing:
Shares of Laser Power & Infra ended their debut session at Rs 262.85 on the BSE, a 22.83% premium to the issue price of Rs 214.
The stock listed at Rs 269, reflecting a 25.70% premium over the issue price. During the session, it touched a high of Rs 269.80 and a low of Rs 250. More than 67.51 lakh shares changed hands on the BSE.
Stocks in Spotlight:
ABB India surged 6.26% after its global parent, ABB Ltd, reported strong second-quarter results and said order inflows from India grew 81% year-on-year during the quarter. The reported growth significantly exceeded market expectations. According to consensus estimates, analysts had expected India order inflows to increase by around 20%. The 81% jump marks one of the strongest performances for ABB's India business in recent years.
ICICI Lombard General Insurance plunged 10.78% after the company reported a 46.03% YoY decline in standalone net profit to Rs 403.17 crore for Q1 FY27, compared with Rs 747.08 crore in the corresponding quarter last year. However, total income rose 12% YoY to Rs 6,813.71 crore in the quarter ended 30 June 2026.
HDFC Life Insurance Company fell 0.13%. The company reported standalone net profit of Rs 611.19 crore in Q1 FY27, up 11.89% as against Rs 546.46 crore in Q1 FY26. Net premium income rose 14.39% year on year (YoY) to Rs 16,547.97 crore in Q1 FY27 over Q1 FY26.
Bharat Heavy Electricals (BHEL) added 5.30% after the company reported a consolidated net profit of Rs 376.71 crore in Q1 FY27, compared with a net loss of Rs 455.50 crore in Q1 FY26. Revenue from operations rose 40.29% year on year to Rs 7,697.72 crore in the first quarter of FY27.
Angel One declined 2.52%. the broker reported a robust financial performance for the quarter ended 30 June 2026, with consolidated net profit surging 102.14% year on year to Rs 231.40 crore in Q1 FY27 from Rs 114.47 crore in the corresponding quarter of the previous year. Total revenue from operations jumped 25.35% YoY to Rs 1,429.69 crore in the quarter ended 30 June 2026.
South Indian Bank fell 0.48%. The bank reported a 17.29% year-on-year increase in standalone net profit to Rs 377.63 crore in Q1 FY27, compared with Rs 321.95 crore in Q1 FY26. Total income increased marginally by 0.76% year-on-year to Rs 3,007.30 crore in the first quarter of FY27.
Jana Small Finance Bank advanced 1.87% after the bank reported 52% rise in net profit to Rs 155 crore on a 18.4% increase in operating income to Rs 1,009 crore in Q1 FY27 as compared with Q1 FY26.
Mangalore Refinery and Petrochemicals (MRPL) surged 10.56% after the company reported a consolidated net profit of Rs 916.69 crore in Q1 FY27, compared with a net loss of Rs 271.33 crore in Q1 FY26. Revenue from operations (excluding net excise duty) jumped 120.4% year on year (YoY) to Rs 38,254.19 crore in the quarter ended 30 June 2026.
Lotus Chocolate Company fell 6.46% after the company's standalone net profit declined 99.32% year-on-year to Rs 0.02 crore in Q1 FY27, compared with Rs 2.99 crore in the same period last year. Revenue from operations declined 42.06% year-on-year to Rs 91.95 crore in Q1 FY27, from Rs 158.71 crore in Q1 FY26.
Emmvee Photovoltaic Power jumped 7.92% after the solar module and cell manufacturer reported record Q1 FY27 earnings, driven by higher production volumes, improved cell integration and operating leverage. The company's net profit surged 102.61% YoY, while declining 3.08% QoQ, to Rs 380.30 crore in Q1 FY27. Revenue from operations increased 51.34% YoY but declined 10.54% QoQ to Rs 1,555.50 crore in the June 2026 quarter.
Initial Public Offer (IPO):
SBI Funds Management IPO received bids for 518.93 crore shares as against 12.45 crore shares on offer, according to stock exchange data at 17:00 IST on Thursday (16 July 2026). The issue was subscribed 41.66 times.
The issue opened for bidding on 14 July 2026 and it will close on 16 July 2026. The price band of the IPO is fixed between Rs 545 and 574 per share.
Alphine Texworld received bids for 1.68 crore shares as against 1.20 crore shares on offer, as per NSE data as of 17:00 hours on Thursday (16 July 2026). The issue was subscribed 1.40 times.
The issue opened for bidding on Tuesday (14 July 2026) and it will close on Thursday (16 July 2026). The price band of the IPO is fixed between Rs 100 to Rs 105 per share.
Powered by Capital Market - Live News