Indian equity markets experienced their fourth consecutive day of decline on July 24, 2026, with benchmark indices Sensex and Nifty falling significantly. The downturn was primarily attributed to escalating US-Iran geopolitical tensions driving crude oil prices above $101 per barrel.
Market Overview: Key Figures and Impact
The Sensex tanked 600 points to settle at 75,788, while the Nifty fell 170 points to 23,700. This sustained selloff resulted in a substantial erosion of investor wealth, as the market capitalization of BSE-listed firms decreased by Rs 3.29 lakh crore, from Rs 476.73 lakh crore to Rs 473.44 lakh crore.
Top Losers and Gainers
Several prominent stocks faced significant pressure. Top losers included IndiGo, Eternal, Bharti Airtel, Infosys, UltraTech Cement, Trent, and Bajaj Finance, with declines of up to 2.18%. In contrast, HCL Tech, Tech Mahindra, and TCS offered some resistance, rising up to 1.12% on the Sensex.
Market Breadth and Circuit Breakers
The broader market sentiment remained negative, with 2031 out of 3134 traded stocks in the red, compared to 923 trading in the green. Amid the weakness, 82 stocks hit their 52-week lows, while 111 shares managed to reach 52-week highs. Additionally, around 69 stocks triggered their lower circuit limits, reflecting sharp declines, though 45 shares also hit their upper circuit limits.
Foreign Institutional Investors and Global Factors
Foreign institutional investors (FIIs) were net sellers, offloading equities worth Rs 2765 crore on Thursday, according to provisional NSE data. Domestic investors also contributed to the selloff, selling Rs 2708 crore worth of shares.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted the ongoing uncertainty and high volatility. He pointed to the attack on Saudi tankers by Iran-backed Houthis in the Red Sea as the primary cause for the recent spike in Brent crude to around $100. This surge in oil prices is expected to revive India’s Balance of Payments concerns. The Indian Rupee also depreciated, albeit mildly, to 96.57 against the dollar, further prompting FPIs to shift back into sell mode. The rise in the US 10-year yield to 4.7% was also cited as a negative factor for global equity markets.
Previous Session's Performance
In the preceding session, the Sensex had already declined by 363.66 points (0.47%) to close at 76,391.39, while the Nifty50 index fell 126.65 points (0.53%) to 23,869.60, setting the stage for the current prolonged downturn.