Sensex, Nifty drops amid weak global cues; European mrkt decline

The domestic equity indices continued to trade with moderate losses in afternoon trade tracking weak global cues as uncertainty over the prospects of a US-Iran deal weighed on investor sentiment. Persistent geopolitical concerns and the lack of clarity over diplomatic developments kept investors cautious, limiting risk appetite in the domestic market. Market activity was also influenced by the weekly expiry of NSE derivatives contracts.

Market participants are assessing a slew of Q1 FY27 earnings announcements, with sector- and stock-specific movements remaining in focus amid the ongoing earnings season while keeping a close watch the progress of the monsoon. The Nifty traded below the 24,500 level.

Investors are closely tracking the domestic inflation data due on Wednesday, alongside crude oil price movements and developments on the global geopolitical front, for further cues on the market?s near-term direction.

Media, FMCG and metal shares declined while consumer durables, IT and PSU Bank shares advanced.

At 13:25 IST, the barometer index, the S&P BSE Sensex declined 368.68 points or 0.47% to 78,173.09. The Nifty 50 index dropped 121.25 points or 0.49% to 24,462.70.

In the broader market, the BSE 150 MidCap Index declined 0.10% and the BSE 250 SmallCap Index added 0.27%.

The market breadth was negative. On the BSE, 1,958 shares rose and 2,221 shares fell. A total of 223 shares were unchanged.

Gainers & Losers:

Dr Reddy Laboratories (up 3.09%), Titan Company (up 1.06%), Tata Consultancy Services (TCS) (up 0.60%), HCL Technologies (up 0.53%) and Infosys (up 0.51%) were the top gainers.

Max Healthcare (down 2.69%), Tata Consumer Products (down 2.21%), SBI Life Insurance Company (down 2.01%), Apollo Hospitals Enterprise (down 2%) and Nestle India (down 1.83%) were the top losers.

Stocks in Spotlight:

Triveni Turbine declined 5.77% after the company reported a 20.78% decline in consolidated net profit to Rs 51.1 crore, despite a 19.23% increase in revenue from operations to Rs 442.7 crore in Q1 FY27 over Q1 FY26.

Vodafone Idea rose 2.09% after reporting a strong operational performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net loss narrowed to Rs 5361.99 crore in Q1 FY27, from a loss of Rs 6608.1 crore in Q1 FY26 and a loss of Rs 5513 crore in Q4 FY26. Revenue from operations rose 6.0% YoY and 3.2% QoQ to Rs 11,689 crore during the quarter.

Bharat Forge fell 1.62% after the company reported a consolidated net loss of Rs 89.73 crore in Q1 FY27 as against a net profit of Rs 283.68 crore in Q1 FY26. Revenue for the period under review was Rs 4,639.94 crore, up 18.7% YoY.

Kolte-Patil Developers surged 15.95% after reporting strong financial performance for the quarter ended 30 June 2026. On a consolidated basis, adjusted net profit stood at Rs 146.26 crore in Q1 FY27, compared with an adjusted net loss of Rs 16.99 crore in Q1 FY26 and Rs 15.98 crore in Q4 FY26. Net sales rose 1,016.5% YoY and 269.9% QoQ to Rs 919.54 crore during the quarter.

Bosch rallied 4.49%. The company reported 36.8% fall in consolidated net profit to Rs 704.90 crore in Q1 FY27, down 36.80% from Rs 1,115.30 crore in Q1 FY26. Revenue for the period under review was Rs 5,841.90 crore, up 22% YoY. The growth in revenue was driven by higher demand in passenger cars and off-highway segment

Global Market:

European market declined amid renewed US Iran tensions along with weak UK retail data. UK retail sales growth slowed sharply in July, with total sales rising 1.3% YoY, compared with 2.5% growth a year earlier and 1.9% in June 2026. Food sales increased 3.8%, supported by the tail-end of the World Cup, while non-food sales declined 0.7%.

Asian market traded mixed on Tuesday as uncertainty continued to prevail over the global inflation outlook.

Oil prices jumped as negotiations between the U.S. and Iran over a peace deal and the reopening of the Strait of Hormuz hit an impasse.

U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the crucial waterway.

Earlier, Iran had called for Washington to meet conditions, including recompensing Tehran for the damage caused since the U.S. and Israel launched strikes on its territory more than five months ago.

Following this development, brent crude futures rises nearly $88 per barrel and U.S. crude futures ticked up to $82.42, both the highest levels since July 31, after the contracts rallied roughly 5% on Monday.

The latest uptick in fuel costs raises the stakes for the U.S. July consumer price report due on Wednesday, where expectations are for a monthly rise of 0.1% in the headline reading and 0.2% for the core measure.

Any upside surprise could rekindle bets of a Federal Reserve rate hike next month, with the odds currently a coin toss.

Overnight on Wall Street, the Nasdaq and S&P 500 closed lower on Monday, with declines in Intel and other chipmakers, as investors became less confident about a deal to reopen the Strait of Hormuz.

The S&P 500 declined 0.06% to end the session at 7,753.12 points. The Nasdaq declined 0.32% to 26,605.36 points, while the Dow Jones Industrial Average declined 0.11% to 53,976.04 points.

Powered by Capital Market - Live News