Indices drift lower in early trade; breadth weak
At 09:30 IST, the barometer index, the S&P BSE Sensex, tanked 407.58 points or 0.53% to 77,064.10. The Nifty 50 index fell 114.50 points or 0.48% to 24,069.70.
In the broader market, the BSE 150 MidCap Index fell 0.38% and the BSE 250 SmallCap Index shed 0.68%.
The market breadth was weak. On the BSE, 1,130 shares rose and 1,809 shares fell. A total of 167 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,650.16 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 656.88 crore in the Indian equity market on 21 July 2026, provisional data showed.
Stocks in Spotlight:
Bandhan Bank fell 10%. The banks standalone net profit jumped 34.87% to Rs 501.66 crore in Q1 FY27, compared with Rs 371.96 crore in Q1 FY26. Total income rose 0.53% YoY to Rs 6234.38 crore in Q1 FY27.
TVS Holding added 4.57% after the companys consolidated net profit climbed 81.87% to Rs 610.25 crore on 34.01% increase in revenue from operations to Rs 17,076.18 crore in Q1 FY27 over Q1 FY26.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.38% to 6.817 as compared with previous close 6.791.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.2900 compared with its close of 96.2500 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement rose 1.07% to Rs 1,44,410.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 101.15.
The United States 10-year bond yield fell 0.04% to 4.626.
In the commodities market, Brent crude for September 2026 settlement added $1.07 or 1.18% to $92.08 a barrel.
Global Markets:
Asian markets traded in the green on Wednesday as investors took cues from a rebound in U.S. markets, shrugging off climbing oil prices as Houthi rebels threatened to open a front in the widening Middle East conflict.
In the commodity markets, brent crude nudged 0.6% higher to $91.55 a barrel after two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea on Tuesday after threats of ??attack from Yemen's Iran-aligned Houthis.
Overnight in the US, the S&P 500 fell on Monday as oil prices advanced in response to the latest bout of military exchanges between the U.S. and Iran.
The broad market index dropped 0.19% to close at 7,443.28, while the Nasdaq Composite lost 0.05% and ended at 25,508.07. The Dow Jones Industrial Average fell 307.16 points, or 0.59%, to 51,839.26.
The U.S. completed its ninth consecutive day of strikes on Iran overnight, but investor sentiment improved by midmorning in London after Iranian Foreign Ministry spokesman Esmail Baghaei lifted hopes for a diplomatic settlement.
Baghaei was quoted by the media saying that intermediaries had continued to exchange messages with Iran amid the latest round of U.S. strikes, and said negotiations between the two adversaries could be pursued based on national interests.
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