Nifty trades tad below 24,250; broader market outperforms
At 13:30 IST, the barometer index, the S&P BSE Sensex tanked 451.03 points or 0.58% to 77,700.42. The Nifty 50 index fell 89.30 points or 0.37% to 24,245.05.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.50% and the BSE 250 SmallCap Index rose 0.23%.
The market breadth was positive. On the BSE, 2,040 shares rose and 2,034 shares fell. A total of 259 shares were unchanged.
In the commodities market, Brent crude for September 2026 settlement advanced 81 cents or 0.92% to $88.91 a barrel.
Parliament Monsoon Session 2026 begins today:
The Monsoon Session of Parliament began on a stormy note on Monday, with proceedings in both the Lok Sabha and the Rajya Sabha adjourned till noon after Opposition members disrupted the Houses over a range of issues.
In the Lok Sabha, Speaker Om Birla adjourned the House shortly after Question Hour began as Opposition MPs raised slogans and entered the Well of the House.
The House had earlier paid tributes to former Members of Parliament Nadendla Bhaskara Rao, Omwati Devi, Sudhangshu Seal, Maj Gen B C Khanduri (Retd), K P Dhanapalan and Pyare Lal Sankhwar. The Speaker also paid homage to Sheikh Hamad bin Khalifa Al-Thani, the Father Amir of Qatar.
The Rajya Sabha also witnessed disruptions and was adjourned till 2 pm.
Ahead of the session, Congress and other INDIA bloc parties said they would press the government on issues including alleged irregularities in Ram Mandir donations, repeated examination paper leaks, the ethanol-blending policy and other public concerns.
Prime Minister Narendra Modi, meanwhile, expressed hope for a productive session and urged all parties to engage in constructive discussions on issues of national importance.
The Monsoon Session, scheduled to run from 20 July to 13 August 2026, will have 19 sittings and is expected to consider several key government Bills, while the Opposition is preparing to challenge the Centre on a range of political and policy issues.
Economy:
India?s forex reserves jumped $964 million to $675.157 billion in the week ended July 10, the Reserve Bank said.
Foreign currency assets, a major component of the reserves, increased by $930 million to $546.508 billion, the central bank?s data showed.
The value of gold reserves increased by $24 million to $105.223 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by $3 million at $18.626 billion, the apex bank said.
India?s reserve position with the IMF also increased by $7 million to $4.793 billion at the end of the reporting week, according to the RBI?s data.
Gainers & Losers:
Trent (up 3.02%), Cipla (up 2.84%), JSW Steel (up 1.79%) and Oil & Natural Gas Corporation (up 1.38%) were the major Nifty50 gainers.
Axis Bank (down 5.48%), HDFC Bank (down 4.78%), Maruti Suzuki India (down 2.64%) and Kotak Mahindra Bank (down 2.41%) were the major Nifty50 losers.
Stocks in Spotlight:
Punjab National Bank (PNB) jumped 5.20% after the bank?s standalone net profit surged 213.63% to Rs 5,253.29 crore in Q1 FY27 compared with Rs 1,675 crore posted in Q1 FY26.
Oberoi Realty declined 1.04% after the real estate developer reported a 22.71% quarter-on-quarter (QoQ) decline in consolidated net profit to Rs 543.51 crore in Q1 FY27, compared with Rs 703.28 crore in Q4 FY26.
Tatva Chintan Pharma Chem surged 18.11% after the company reported a robust performance for the quarter ended 30 June 2026. The company?s consolidated net profit soared 140.3% to Rs 15.98 crore in Q1 FY27, compared with Rs 6.65 crore in Q1 FY26. Revenue from operations jumped 42.95% YoY to Rs 167.05 crore in the quarter ended 30th June 2026.
Bhansali Engineering Polymers surged 16.35% after the company reported strong earnings for the quarter ended 30 June 2026.
The company's consolidated net profit increased 42.95% YoY and 27.13% QoQ to Rs 65.60 crore in Q1 FY27. Revenue from operations rose 53.34% YoY and 38.21% QoQ to Rs 472.15 crore in the June 2026 quarter. The company said revenue growth was driven by higher realisations, while operating leverage and improved cost efficiencies contributed to a significant expansion in profitability.
IDBI Bank shed 0.86%. The company?s standalone net profit jumped 5.37% to Rs 2,115.18 crore on a 1.36% rise in total income to Rs 8,573.02 crore in Q1 FY27 over Q1 FY26. Operating profit stood at Rs 2,167.81 crore in Q1 FY27, down 7.91% YoY.
Global Markets:
European shares edged down on Monday, as an escalating U.S.-Iran conflict drove oil prices higher, stoking concerns over inflation ahead of another corporate earnings season.
Asian markets traded mixed as the escalating conflict in the Gulf lifted oil prices and fanned fears of inflation.
Brent crude climbed above $90 a barrel for the first time in more than a month as the U.S. military started a ninth straight day of attacks against Iran, which in turn struck targets across the region. Just a handful of ships transited the Strait of Hormuz on Sunday and one was reported to be on fire.
In the commodity market, the Brent duly added 2.6% to $90.40 a barrel, while U.S. crude rose 2.3% to $84.39.
The jump in fuel costs has revived worries about inflation even as U.S. consumer price data surprised on the downside last week, leading futures markets to reportedly price in 29 basis points of Federal Reserve rate hikes by year-end.
Futures imply a 60% chance of a rate rise as early as September, pushing yields on 30-year Treasuries back above the psychological 5.0% barrier. This is a level that tends to attract funds away from equities and toward fixed income, while lifting the valuation bar for future corporate earnings.
Last week, stocks fell again on Friday, with Wall Street posting a weekly decline, as traders weighed the latest moves in semiconductor names along with recent quarterly reports.
The broad market index lost 1.01% to end at 7,457.69, while the Nasdaq Composite dropped 1.4% to 25,520.24 as tech stocks came under scrutiny. The Dow Jones Industrial Average fell 406.55 points, or 0.77%, to close at 52,146.42.
Alongside chips, shares of Netflix were a major laggard Friday, falling more than 7% as the company?s forecast failed to ease investor concerns that growth is slowing.
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