Sensex, Nifty extend losses; HDFC Bank, RIL drag, broader market outperforms
Despite the weakness in benchmark indices, the broader market moved higher. Nifty Midcap100 gained 0.30 per cent, while Nifty Smallcap100 advanced 0.53 per cent.
- Jul 21, 2026,
- Updated Jul 21, 2026 4:35 PM IST
Indian equity benchmarks extended their losing run for the second straight session on Tuesday amid a mixed sectoral performance, with heavyweight stocks such as HDFC Bank Ltd and Reliance Industries Ltd (RIL) weighing on frontline indices. However, broader indices remained resilient as midcap and smallcap stocks outperformed.
The 30-share BSE Sensex pack declined 238.41 points or 0.31 per cent to settle at 77,470.11, while the NSE Nifty50 index fell 50.80 points or 0.21 per cent to close at 24,187.70.
Among the biggest contributors to the Sensex's decline were HDFC Bank, RIL, State Bank of India (SBI), Infosys Ltd, Tata Consultancy Services (TCS), ITC Ltd, Trent Ltd, Power Grid Corporation of India Ltd and Eternal.
Sectorally, realty, auto and metal stocks bucked the weak trend, while PSU banks, IT and oil & gas counters emerged as the top losers.
Despite the weakness in benchmark indices, the broader market moved higher. Nifty Midcap100 gained 0.30 per cent, while Nifty Smallcap100 advanced 0.53 per cent.
Vinod Nair, Head of Research at Geojit Investments, said, "Despite geopolitical challenges, midcaps are performing well in anticipation of strong corporate earnings, supported by demand-led business updates. While this segment's elevated valuations compared to large caps warrant caution, underlying business conditions are expected to remain healthy at least through H1 FY27. However, sustaining this momentum will require the ongoing spike in input costs to normalise, as demand growth may tend to become flattish in H2 FY27. At present, the broader market is trading in a mixed range, reflecting large caps' underperformance driven by moderating inflows amid rising geopolitical risks and higher crude oil prices."
Ankur Punj, MD & Business Head at Equirus Wealth, also noted that a spike in global crude oil prices amid growing uncertainty over the lingering West Asia conflict prompted investors to further trim their equity exposure.
Nifty outlook
Rupak De, Senior Technical Analyst at LKP Securities, stated, "Nifty50 witnessed a lacklustre trading session, failing to establish any meaningful directional bias throughout the day. Despite the subdued price action, the index managed to hold above its key moving averages, reflecting an underlying positive trend. On the lower timeframe, it found support at a crucial moving average and rebounded, indicating buying interest at lower levels."
He added, "In the near term, the overall trend is expected to remain positive, with the potential to move towards the 24,400 mark. On the downside, immediate support is placed at 24,150. A decisive breach below this level could trigger further weakness, dragging the index towards 23,950."
Indian equity benchmarks extended their losing run for the second straight session on Tuesday amid a mixed sectoral performance, with heavyweight stocks such as HDFC Bank Ltd and Reliance Industries Ltd (RIL) weighing on frontline indices. However, broader indices remained resilient as midcap and smallcap stocks outperformed.
The 30-share BSE Sensex pack declined 238.41 points or 0.31 per cent to settle at 77,470.11, while the NSE Nifty50 index fell 50.80 points or 0.21 per cent to close at 24,187.70.
Among the biggest contributors to the Sensex's decline were HDFC Bank, RIL, State Bank of India (SBI), Infosys Ltd, Tata Consultancy Services (TCS), ITC Ltd, Trent Ltd, Power Grid Corporation of India Ltd and Eternal.
Sectorally, realty, auto and metal stocks bucked the weak trend, while PSU banks, IT and oil & gas counters emerged as the top losers.
Despite the weakness in benchmark indices, the broader market moved higher. Nifty Midcap100 gained 0.30 per cent, while Nifty Smallcap100 advanced 0.53 per cent.
Vinod Nair, Head of Research at Geojit Investments, said, "Despite geopolitical challenges, midcaps are performing well in anticipation of strong corporate earnings, supported by demand-led business updates. While this segment's elevated valuations compared to large caps warrant caution, underlying business conditions are expected to remain healthy at least through H1 FY27. However, sustaining this momentum will require the ongoing spike in input costs to normalise, as demand growth may tend to become flattish in H2 FY27. At present, the broader market is trading in a mixed range, reflecting large caps' underperformance driven by moderating inflows amid rising geopolitical risks and higher crude oil prices."
Ankur Punj, MD & Business Head at Equirus Wealth, also noted that a spike in global crude oil prices amid growing uncertainty over the lingering West Asia conflict prompted investors to further trim their equity exposure.
Nifty outlook
Rupak De, Senior Technical Analyst at LKP Securities, stated, "Nifty50 witnessed a lacklustre trading session, failing to establish any meaningful directional bias throughout the day. Despite the subdued price action, the index managed to hold above its key moving averages, reflecting an underlying positive trend. On the lower timeframe, it found support at a crucial moving average and rebounded, indicating buying interest at lower levels."
He added, "In the near term, the overall trend is expected to remain positive, with the potential to move towards the 24,400 mark. On the downside, immediate support is placed at 24,150. A decisive breach below this level could trigger further weakness, dragging the index towards 23,950."