Sensex Surges 540 Points, Nifty Settles Above 25,200, Realty Emerges Top Loser

Stock Market Today: Benchmark indices moved higher in trade on July 23, offering some relief after the recent decline in the initial weeks of July. The Sensex gained 539.83 points, or 0.66 per cent, to close at 82,726.64. Likewise, the Nifty 50 climbed 159 points, or 0.63 per cent, to settle at 25,219.90.

In the broader market, mid-caps were largely upbeat, while small- and micro-caps ended mostly in red. The Nifty Midcap 100 rose 0.34 per cent, while the Nifty Smallcap 100 remained unchanged. The Nifty 500, which represents more than 92 per cent of the free-float market cap of all the stocks listed on the National Stock Exchange (NSE), ended higher by 0.46 per cent. However, the Nifty Microcap 250, which tracks the performance of the top 250 stocks beyond the Nifty 500 constituents, slipped 0.25 per cent.

On the sectoral front, Nifty Auto, Nifty Bank, Nifty Financial Services, and Nifty Healthcare indices gained between 0.80 per cent and 0.85 per cent. Nifty Metal, Nifty Pharma, Nifty PSU Bank, Nifty Private Bank, Nifty Consumer Durables and Nifty Oil & Gas also gained between 0.25 per cent and 0.69 per cent.

Nifty Realty, on the other hand, plunged 2.6 per cent after large block deals in Oberoi Realty and Lodha Developers, emerging as the top sectoral loser. Nifty Media and Nifty FMCG and fell 0.94 per cent and 0.52 per cent, respectively.

Sensex, Nifty 50: Top Gainers & Losers

From the Sensex's 30 stocks, Tata Motors, Bharti Airtel, Bajaj Finance, Maruti Suzuki, Bajaj Finserv, and ICICI Bank were the top gainers, while Hindustan Unilever, Bharat Electronics, UltraTech Cement, ITC, Tata Steel and Adani Ports and Tech Mahindra dragged the index. Of the 30 stocks, 23 closed in green, while seven stocks closed in the red.

Among the Nifty 50 pack, Tata Motors, Bharti Airtel, Shriram Finance, Apollo Hospitals, Bajaj Finance, Jio Financial Services, Bajaj Auto, and Maruti Suzuki led the gains, while Tata Consumer Products, Hindustan Unilever, Infosys, Grasim Industries, Bharat Electronics, UltraTech Cement, Tata Steel and ONGC emerged as the top losers.

Why Stock Market Rose Today

Favorable global cues, including the announcement of a new trade agreement between the United States and Japan, and reports indicating progress on the India–UK free trade agreement (FTA) contributed to the positive sentiment in the market.

Vinod Nair, head of research, Geojit Investments, said, “Positive global cues, underpinned by optimism surrounding the US-Japan trade agreement, have supported sentiment. Additionally, progress toward finalising the India-UK FTA has further contributed to the constructive outlook."

According to Ajit Mishra, senior vice president, research, Religare Broking, "The ongoing recovery is being driven primarily by strength in banking majors, while heavyweights from other key sectors are showing signs of stabilization following the recent correction. However, the IT sector, which holds significant weight in the index, continues to face selling pressure and is gradually inching lower."

Key Market Cues For Tomorrow, July 24

Infosys Q1 Results - India's second-largest IT services exporter, Infosys reported its quarterly results for the April-June quarter of this fiscal year (Q1 FY26) post-market hours on July 23. Investors will be reacting the company’s earnings the next day.

The IT major reported a net profit of Rs 6,921 crore, a growth of 8.7 per cent year-on-year (YoY) from Rs 6,368 crore in the previous year's corresponding quarter. The company's revenue came in at Rs 42,279 crore, up 7.5 per cent YoY from Rs 39,315 crore in the same period last year.

Sequentially, net profit declined 1.6 per cent, while revenue surged 3.3 per cent.

Upcoming Q1 Results - On July 24, as many as 64 companies, listed on the Bombay Stock Exchange (BSE), are set to report their Q1 FY26 results.

Some of the key earnings to watch include Bajaj Finance, Canara Bank, Nestle India, ACC, Adani Energy Solutions, Indian Energy Exchange, SBI Life Insurance, and Trident.

Macroeconomic Data - Investors will be closely watching US manufacturing and services PMI data, which will be released on July 24.

India-US Trade Deal - After the US-Japan trade deal, all eyes are now on India-US trade deal, which have been in deadlock for weeks. Any announcements or developments in this space will likely have an impact on the domestic markets.