GIFT Nifty:
The GIFT Nifty July 2026 futures currently traded 32.00 points lower, suggesting a negative opening for the benchmark index today.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 2,999.23 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,947.14 crore in the Indian equity market on 23 July 2026, provisional data showed.
The FIIs have sold shares worth Rs 7,836.18 crore so far in July (till 23 July 2026). This follows their cash sales of Rs 49,028.63 crore in June, Rs 55,963.33 crore in May and Rs 70,135.46 crore in April.
Global Markets:
Asian shares fell on Friday as oil prices stormed back above $100 a barrel amid an intensifying conflict in the Gulf, rattling bond markets and reviving fears of a fresh inflation shock.
Brent crude held at $100.85 a barrel, after surging 7% overnight to a two-month high of $102 as attacks by Iran-aligned Houthis on Saudi tankers in the Red Sea choked off a second crucial Middle East artery for global oil supplies, alongside Iran's near-closure of the Strait of Hormuz.
Two weeks since the effective collapse of an interim truce meant to end the war, the U.S. military launched air strikes on Iran into Friday morning while Tehran fired at neighbouring Arab countries that host U.S. bases. With the conflict showing little signs of abating, Brent has reportedly soared nearly 40% this month alone.
News that the U.S. administration will impose higher tariffs on goods from 60 trading partners also did not help the inflation picture, with 30-year Treasury yields nearing their highest levels since 2007 and benchmark European borrowing costs climbing to highs last seen in 2011.
Overnight on Wall Street, U.S. equities fell on Thursday, as oil prices surged amid escalating conflict in the Middle East, while investors weighed quarterly results from two of the largest companies in the world, with Alphabet's fueling concerns about increased artificial intelligence spending.
The Dow Jones Industrial Average lost 506.93 points, or 0.97%, to end at 51,711.65. The S&P 500 dropped 1.21% to 7,408.30, while the Nasdaq Composite declined 2.15% to close at 25,137.69.
The tech-heavy index was bogged down by a 7% drop in Alphabet and a 14% loss in Tesla following their earnings reports.
Domestic Market:
Key benchmark indices extended losses for a fourth straight session on Thursday. Rising crude oil prices and escalating geopolitical tensions in the Middle East weighed on investor sentiment. The Nifty settled below the 23,900 level. Broader indices also declined, with the Midcap and Smallcap indices losing 1% each.
Sectoral weakness was broad-based, led by realty, oil & gas, infrastructure and PSU banks, while auto and media were the only gainers. The Nifty has turned technically weak, with immediate support seen around 23,750-23,780 and resistance near the 24,000 mark.
The S&P BSE Sensex slipped 363.66 points or 0.47% to 76,391.39. The Nifty 50 index fell 126.65 points or 0.53% to 23,896.60. Over four consecutive sessions, the Sensex has lost 2.25%, while the Nifty has slipped 1.90%.
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