Sensex and Nifty moved between gains and losses as a 3.6% rally in IT shares countered declines in Hindustan Unilever, Coal India and Bharat Electronics. Falling crude oil and a stronger rupee offered support, but weak market breadth, expiry-day trading and caution before the US Federal Reserve decision limited gains.
Latest Market Update: Sensex and Nifty Struggle Near 24,000
The Indian stock market remained volatile during Tuesday’s morning session, with the Sensex and Nifty repeatedly moving between marginal gains and losses.
At 11:25 AM IST, the NSE Nifty 50 was 0.09% higher at approximately 24,017, while the BSE Sensex gained 0.10% to 76,902.01. Twelve of the 16 major sectoral indices were trading lower, but the Nifty IT index surged about 2.7%. Mid-cap and small-cap indices were largely flat. The opening figures were reported from exchange-linked feeds by Reuters.
Why is the Indian stock market flat today?
IT shares are supporting the benchmarks
The Nifty IT index jumped approximately 2.7%, making it the clearest source of support for the market. This strength came even as technology shares weakened across several Asian markets amid concerns about the capital required to sustain the artificial-intelligence investment boom.
Indian IT companies are not pure-play AI infrastructure businesses. Their exposure is more closely linked to technology services, outsourcing, digital transformation and corporate spending in the United States and Europe. That distinction helped Indian IT shares behave differently from some overseas technology counters.
Also Read | Indian Stock Market Today: 5 Reasons Sensex Is Rising
Falling oil provides relief, but yesterday’s easy gains are gone
Brent crude declined another 1.3% to approximately $87.20 per barrel, following an 8.7% fall in the previous session. The retreat came amid signs of progress in US-Iran discussions and a pause in military strikes.
Lower crude supports India by potentially reducing imported inflation, pressure on the rupee and the country’s energy-import bill. Airlines, paints, tyres, logistics, cement and oil-marketing companies may also benefit from lower input-cost expectations.
However, the market has already priced in part of this relief. The Sensex rallied 776.01 points on Monday and the Nifty gained 228.50 points. With crude no longer creating a new positive surprise of the same magnitude, investors are returning their attention to earnings, valuations and global interest rates.
Broader market breadth remains weak
Twelve of the 16 major sectoral indices opened lower, while mid-cap and small-cap indices were flat. This contrasts sharply with Monday, when all 16 major sectors opened in positive territory.
The change indicates that Tuesday’s market is not a continuation of Monday’s broad relief rally. It is a more selective session in which one strong sector—IT—is offsetting weakness elsewhere.
A healthier market would require the advance-decline ratio to improve and more sectors to participate. Until that happens, the Sensex and Nifty may present a stronger picture than the average listed stock.
HUL, Coal India and BEL Drag the Market
Strength in IT was offset by declines in several major companies following their quarterly results:
- Hindustan Unilever fell approximately 3.7% after reporting a lower quarterly profit.
- Coal India declined around 3% after its June-quarter profit missed expectations.
- Bharat Electronics fell approximately 3.3% amid concerns about operating margins.
- Nifty Smallcap 100 declined about 0.5%, while the mid-cap index remained broadly unchanged.
This is useful for readers because it explains why the Nifty remained near 24,000 despite a substantial IT-sector rally.
FII and DII activity
Official provisional NSE data for July 27 showed domestic institutional investors purchasing shares worth ₹15,937.10 crore and selling ₹13,607.96 crore, resulting in net buying of ₹2,329.14 crore.
Foreign institutional investors recorded gross purchases of ₹11,695.95 crore and sales of ₹13,384.18 crore, implying net selling of approximately ₹1,688.23 crore.
Domestic buying therefore exceeded foreign selling by around ₹640.91 crore.
This is supportive, but it should not be interpreted as proof that the foreign-selling cycle has ended. The more useful signal would be several sessions of moderating FII outflows alongside consistent DII participation.
Also Read | Stock Market Today: Sensex Crashes Over 900 Points, Nifty Near 23,600 as Oil Shock Deepens Weekly Rout
HUL Q1 Results: Why Did the Share Price Fall?
Hindustan Unilever reported a 3% year-on-year decline in consolidated net profit to ₹2,673 crore. Revenue increased, but the profit performance fell short of market expectations.
Published result summaries carried different revenue presentations depending on the reported accounting measure: one showed revenue of ₹17,149 crore, up 10%, while another reported ₹17,341 crore against ₹16,514 crore. News4Bharat should use the exact figure and definition from HUL’s official exchange filing before publication.
What HUL’s Results Mean for Investors
The market reaction suggests that investors are focusing on:
- Whether volume growth is improving
- The difference between rural and urban demand
- Input-cost pressure
- Advertising and promotional spending
- Gross-margin sustainability
- Whether revenue growth is translating into operating-profit growth
This section adds more value than simply reporting that the share price fell.
Commodities market today
Crude oil
Brent crude fell 1.3% to around $87.20 per barrel after declining 8.7% in the previous session. For India, oil remaining below $90 would be more meaningful than a short-lived intraday fall because sustained lower prices can gradually influence inflation, the rupee, fuel costs and company margins.
The risk remains geopolitical. A breakdown in negotiations or renewed disruption to oil transportation routes could reverse the move quickly.
Gold
Spot gold declined 0.7% to $4,044.81 an ounce, while US gold futures fell 0.8% to approximately $4,045.40. A firmer dollar and uncertainty over the Federal Reserve’s interest-rate message pressured bullion, according to Reuters’ July 28 gold update.
For Indian buyers, domestic gold prices will also depend on the rupee. International gold and local prices do not always move by the same percentage.
Stocks to Watch this Week
These are news-led research candidates, not unconditional investment recommendations.
IPO watch: Manipal Health issue opens tomorrow
The Manipal Health Enterprises IPO opens for public subscription from July 29 to July 31, with anchor bidding scheduled for July 28. The price band is ₹560–₹590 per share.
The approximately ₹9,275-crore offer includes an ₹8,000-crore fresh issue and an offer for sale. Manipal Health plans to use a substantial part of the proceeds to reduce debt and expand capacity. The company intends to add 2,400 beds over the next three to four years, according to Reuters.
Readers should evaluate the company’s valuation, debt reduction, occupancy, revenue per occupied bed, geographic concentration and execution risks. Grey-market premiums are unofficial and should not replace the prospectus or exchange disclosures.
Juniper Green Energy IPO Opens July 30
Juniper Green Energy has fixed a price band of ₹214–₹225 per share for its approximately ₹1,800-crore IPO.
What Readers Should Check Before Applying to an IPO
- Fresh issue versus offer for sale
- Use of proceeds
- Debt after the issue
- Revenue and profit growth
- Cash flow
- Valuation against listed competitors
- Promoter holdings after listing
- Customer or geographic concentration
- Risks disclosed in the prospectus
News4Bharat POV
The most important number this morning is not the Sensex’s small gain or the Nifty’s position near 24,000. It is that 12 of 16 major sectors declined while IT jumped 2.7%.
This creates an optical calm: the index looks stable because a heavily weighted sector is rising, even though much of the market is under pressure.
Lower crude has removed an immediate macroeconomic threat, and domestic institutions continue to absorb foreign selling. But Tuesday’s breadth shows that investors are not yet willing to buy the entire market after Monday’s rebound. They are moving selectively towards sectors with identifiable triggers.
