Sensex, Nifty extend losing streak to fifth day; analysts see cautious trend ahead
Among the biggest drags on Sensex were Bharti Airtel Ltd, HDFC Bank Ltd, Bajaj Finance Ltd, Mahindra & Mahindra Ltd (M&M), Eternal Ltd, Infosys Ltd, Hindustan Unilever Ltd (HUL), Sun Pharmaceutical Industries Ltd, Asian Paints Ltd and Tata Steel Ltd.
- Jul 24, 2026,
- Updated Jul 24, 2026 6:14 PM IST
Indian equity benchmarks extended their losses for the fifth consecutive session on Friday as persistent geopolitical tensions, elevated crude oil prices and weak quarterly earnings from select large-cap companies weighed on investor sentiment.
The 30-share BSE Sensex pack declined 331.62 points or 0.43 per cent to settle at 76,059.77. The broader NSE Nifty50 index fell 102.15 points or 0.43 per cent to close at 23,767.45.
Among the biggest drags on Sensex were Bharti Airtel Ltd, HDFC Bank Ltd, Bajaj Finance Ltd, Mahindra & Mahindra Ltd (M&M), Eternal Ltd, Infosys Ltd, Hindustan Unilever Ltd (HUL), Sun Pharmaceutical Industries Ltd, Asian Paints Ltd and Tata Steel Ltd.
Sectoral participation remained largely negative, with auto, metal and energy stocks emerging as the worst performers. IT and banking indices, however, managed to end marginally in the green amid heightened market volatility.
The broader market also witnessed choppy trading. The Nifty Smallcap100 index declined 0.10 per cent, while the Nifty Midcap100 index slipped 0.32 per cent.
Ajit Mishra – SVP (Research) at Religare Broking, said, "Investor sentiment remained subdued as Brent crude prices recently surged above the $100 per barrel mark following a fresh escalation in the Middle East, reviving concerns over inflation and its impact on the domestic economy. Disappointing quarterly earnings from select large-cap companies and continued weakness in the rupee further weighed on market sentiment, keeping participants cautious."
Ankur Punj, MD & Business Head at Equirus Wealth, said, "Markets pared most of their early losses to end off their lows on late buying in select banking and IT stocks, although the downward spiral continued. Gains in European indices coupled with a sharp fall in oil prices also helped markets erase most of the losses. However, renewed selling by FIIs and the depreciating local currency remain key concerns for investors."
On the broader market outlook, Vinod Nair, Head of Research at Geojit Investments, said, "Until oil prices moderate and geopolitical risks subside, India's market re-rating is likely to be gradual rather than sharp, reinforcing the case for staying invested and accumulating quality businesses rather than remaining on the sidelines."
Nifty outlook
From a technical perspective, Rupak De, Senior Technical Analyst at LKP Securities, said, "For Nifty50, immediate support is placed at 23,600. A fall below 23,600 might trigger a severe correction, as investors would be running away, putting the index at greater downside risk. On the higher end, 24,000 will become the line of polarity. Unless Nifty moves higher to reclaim 24,000, the broader trend is likely to remain weak."
Indian equity benchmarks extended their losses for the fifth consecutive session on Friday as persistent geopolitical tensions, elevated crude oil prices and weak quarterly earnings from select large-cap companies weighed on investor sentiment.
The 30-share BSE Sensex pack declined 331.62 points or 0.43 per cent to settle at 76,059.77. The broader NSE Nifty50 index fell 102.15 points or 0.43 per cent to close at 23,767.45.
Among the biggest drags on Sensex were Bharti Airtel Ltd, HDFC Bank Ltd, Bajaj Finance Ltd, Mahindra & Mahindra Ltd (M&M), Eternal Ltd, Infosys Ltd, Hindustan Unilever Ltd (HUL), Sun Pharmaceutical Industries Ltd, Asian Paints Ltd and Tata Steel Ltd.
Sectoral participation remained largely negative, with auto, metal and energy stocks emerging as the worst performers. IT and banking indices, however, managed to end marginally in the green amid heightened market volatility.
The broader market also witnessed choppy trading. The Nifty Smallcap100 index declined 0.10 per cent, while the Nifty Midcap100 index slipped 0.32 per cent.
Ajit Mishra – SVP (Research) at Religare Broking, said, "Investor sentiment remained subdued as Brent crude prices recently surged above the $100 per barrel mark following a fresh escalation in the Middle East, reviving concerns over inflation and its impact on the domestic economy. Disappointing quarterly earnings from select large-cap companies and continued weakness in the rupee further weighed on market sentiment, keeping participants cautious."
Ankur Punj, MD & Business Head at Equirus Wealth, said, "Markets pared most of their early losses to end off their lows on late buying in select banking and IT stocks, although the downward spiral continued. Gains in European indices coupled with a sharp fall in oil prices also helped markets erase most of the losses. However, renewed selling by FIIs and the depreciating local currency remain key concerns for investors."
On the broader market outlook, Vinod Nair, Head of Research at Geojit Investments, said, "Until oil prices moderate and geopolitical risks subside, India's market re-rating is likely to be gradual rather than sharp, reinforcing the case for staying invested and accumulating quality businesses rather than remaining on the sidelines."
Nifty outlook
From a technical perspective, Rupak De, Senior Technical Analyst at LKP Securities, said, "For Nifty50, immediate support is placed at 23,600. A fall below 23,600 might trigger a severe correction, as investors would be running away, putting the index at greater downside risk. On the higher end, 24,000 will become the line of polarity. Unless Nifty moves higher to reclaim 24,000, the broader trend is likely to remain weak."