FOMO TO FMA - Global Markets Turn Cautious, Earnings Take Centre Stage as Oil, Tariffs and FII Selling Shape Market Mood
1. Global & Domestic Market Indicators (as of 07:00 AM IST)
Futures & Asian Live Markets
| Region / Index | Value / Change | Market Status |
| Gift Nifty | 23,707.50 (+0.13%) | Active |
| US Futures | ||
| • Nasdaq | +0.14% | Futures |
| • Dow Jones | +0.08% | Futures |
| • S&P 500 | +0.12% | Futures |
| European Futures | ||
| • DAX | +0.28% | Futures |
| • FTSE 100 | -0.09% | Futures |
| • CAC 40 | -0.08% | Futures |
| Asian Live Markets | ||
| • KOSPI | -2.90% | Live |
| • Nikkei 225 | -2.67% | Live |
| • TAIEX | -1.01% | Live |
| • Hang Seng | -0.90% | Live |
| • SSEC (Shanghai) | -0.70% | Live |
| • Straits Times | -0.55% | Live |
| • ASX 200 | -0.33% | Live |
Institutional Flow (Cash Market – July 23, 2026)
FII / FPI Net Activity: -₹2,999.23 Crore (Net Sell)
DII Net Activity: +₹2,947.14 Crore (Net Buy)
2. Commodities & Currency Watch
Crude Oil: International commodity markets traded with a mixed tone after sharp overnight volatility. Brent eased 0.55% to $99.99/bbl and WTI slipped 0.77% to $91.48/bbl, after surging over 6% overnight on supply concerns.
Precious Metals: Stabilized following steep declines. Gold edged down 0.06% to $4,047.80/oz (XAU/USD at $4,045.45/oz); Silver fell 0.42% to $57.81/oz.
Industrial & Energy: Industrial metals remained subdued as Copper declined 0.10% to $6.3315/lb. Natural Gas traded lower, slipping 0.27% to $2.907/MMBtu, indicating cautious sentiment across the broader commodities complex.
Forex & Bonds:
USD/INR NDF: USD/INR 1-Month Non-Deliverable Forward (NDF) climbed to 97.25 on soaring oil prices.
Indian Rupee: Ended nearly unchanged as central-bank intervention helped offset pressure from elevated oil prices.
Government Securities: India’s 10-year benchmark government bond yield closed at 6.8413% (vs 6.8012% previous close).
3. Quarterly Results Calendar
Key Quarterly Results Today (July 24, 2026)
NTPC, SBI Life Insurance Company, Shriram Finance, Tata Consumer Products, SBI Cards and Payment Services, ACC, Bank of Baroda, Bank of India, CG Power and Industrial Solutions, Container Corporation of India, CreditAccess Grameen, Dalmia Bharat, Hindustan Zinc, Jindal Steel, Dr Lal PathLabs, Lodha Developers, New India Assurance Company, REC, Steel Authority of India, and Welspun Corp will announce their quarterly earnings today.
Results Tomorrow (July 25, 2026)
AU Small Finance Bank, Birla Corporation, Dodla Dairy, Five-Star Business Finance, IDFC First Bank, SBFC Finance, Seshasayee Paper and Boards, and ZEN Technologies will release their quarterly results today.
4. Key Corporate Updates
Positive
KRN Heat Exchanger and Refrigeration: Secured an order worth ₹50.87 crore, including taxes.
South Indian Bank: Kotak Mahindra Mutual Fund acquired an additional 0.56% stake in the bank.
Marco Cables & Conductors: Received an order worth ₹11.45 crore.
RailTel Corporation of India: Secured a work order valued at ₹32.75 crore.
JD Cables: Received a work order worth approximately ₹18 crore.
Krsnaa Diagnostics: Entered into an agreement to establish and operate CT scan facilities across 34 institutions in Himachal Pradesh.
NTPC Green Energy: Declared the commercial operation of an additional 64.76 MW capacity at the Khavda Solar PV Project, effective July 24, 2026.
Excel Industries: Plans to commission a 1,265 MTPA specialty chemical facility at its Lote site by February 2027, involving an investment of ₹5.05 crore.
Gujarat Alkalies and Chemicals: Approved an additional hydrochloric acid synthesis unit at Dahej with an estimated project cost of ₹55 crore. June-quarter consolidated revenue from operations stood at ₹1,245 crore, while profit was ₹54.98 crore.
Allied Blenders and Distillers: Reported June-quarter consolidated revenue from operations of ₹1,809 crore and net profit of ₹49.22 crore.
3i Infotech: Reported June-quarter consolidated revenue from operations of ₹178 crore and net profit of ₹6.46 crore.
Orient Cement: Reported June-quarter revenue from operations of ₹604 crore and profit after tax of ₹77 crore.
Seshaasai Technologies: Reported June-quarter consolidated revenue from operations of ₹376 crore and profit of ₹60.34 crore.
Indiabulls: Reported June-quarter consolidated revenue from operations of ₹359 crore and profit after tax of ₹143 crore.
Ramco Systems: Reported June-quarter consolidated revenue from operations of ₹173 crore and net profit of ₹60 lakh.
IIFL Capital Services: Reported June-quarter consolidated revenue from operations of ₹631 crore and net profit of ₹184 crore.
Kellton Tech Solutions: Reported June-quarter consolidated revenue from operations of ₹316 crore and net profit of ₹22.32 crore.
Fineotex Chemical: Reported June-quarter consolidated revenue from operations of ₹377 crore and net profit after tax of ₹38.40 crore.
Go Digit General Insurance: Reported June-quarter net premium earned of ₹2,007 crore and profit after tax of ₹86.39 crore.
ICICI Bank: Moody’s Ratings assigned a Baa3 rating to the bank’s drawdown under its Global Medium-Term Note programme.
GRP: Reported June-quarter consolidated revenue from operations of ₹157 crore and net profit of ₹4.20 crore.
Spandana Sphoorty Financial: Reported June-quarter consolidated revenue from operations of ₹284 crore and net profit of ₹11.88 crore.
Suryoday Small Finance Bank: Reported first-quarter interest income of ₹622 crore and net profit of ₹75.18 crore, with provisions and contingencies at ₹36.66 crore and gross NPA at 6.60%.
Coforge: Launched Nuuron, an artificial intelligence operating system designed for autonomous enterprises.
Cyient: Reported first-quarter consolidated total income of ₹2,083 crore and net profit of ₹104 crore.
SpiceJet: Inducted three Airbus A320 aircraft under damp lease, with commercial operations scheduled to begin during the week. The airline is also in advanced discussions with lessors to induct additional aircraft.
Infosys: Recorded large-deal total contract value of $3.6 billion during the first quarter, while AI-related revenue accounted for 8.2% of quarterly revenue and continued to grow at a double-digit rate. Financial services and energy are expected to grow above the company average.
Infosys: Plans to recruit 20,000 campus graduates during the year after hiring more than 4,000 in the first quarter. The company is also building a team of frontier engineers, targeting approximately 6,000 professionals over the next few years.
Infosys: Plans to roll out employee wage increases in October 2026 and January 2027.
Indian Energy Exchange: Reported June-quarter consolidated revenue from operations of ₹158 crore and net profit of ₹135 crore.
Sona BLW Precision Forgings: Reported June-quarter consolidated revenue from operations of ₹1,301 crore and net profit of ₹180 crore.
Motilal Oswal Financial Services: Reported June-quarter consolidated revenue from operations of ₹3,426 crore and net profit of ₹1,273 crore.
NIIT Learning Systems: Reported June-quarter consolidated revenue from operations of ₹565 crore and net profit after tax of ₹57.41 crore.
Malu Paper Mills: Reported June-quarter income from operations of ₹123 crore and profit of ₹1.28 crore.
Ameenji Rubber: Received a letter of acceptance from South Eastern Railway for an order worth ₹19.97 crore.
Capital Small Finance Bank: Reported first-quarter interest income of ₹288 crore and net profit of ₹41.30 crore. Provisions and contingencies stood at ₹9.35 crore, while gross NPA was 2.47%.
SEAMEC: Secured an order from HAL Offshore valued at $9.42 million.
Thyrocare Technologies: Reported June-quarter consolidated revenue from operations of ₹240 crore and net profit of ₹52.19 crore.
International Gemological Institute: Reported June-quarter consolidated revenue from operations of ₹371 crore and net profit of ₹166 crore.
Negative
Servotech Renewable Power System: Detected an internal fraud involving two employees and an external party, with the estimated financial exposure ranging between ₹2 crore and ₹2.50 crore.
Blue Dart Express: Received a tax show-cause notice involving ₹21.04 crore, along with applicable interest and penalty, for FY2022-23.
Shemaroo Entertainment: Reported June-quarter consolidated revenue from operations of ₹132 crore and a net loss of ₹8.05 crore.
Infosys: First-quarter consolidated revenue from operations of ₹48,211 crore was below the consensus estimate of ₹48,367 crore, while net profit of ₹7,769 crore missed the estimate of ₹7,832 crore. The company revised its FY2027 revenue-growth guidance while retaining operating-margin guidance at 20%-22%.
Infosys: US-listed shares fell approximately 4.7%-5% in premarket trading following the quarterly revenue miss, revision in revenue-growth expectations and announcement of a CEO-designate transition.
Infosys: Management said communication and retail verticals continue to face growth constraints, while the upper end of its earlier forecast had assumed a stronger macroeconomic recovery than currently visible. The quarter also included a one-time revenue impact arising from a client decision.
Vascon Engineers: Reliance Industries cancelled a work order valued at ₹132 crore.
IndiGo: Reported first-quarter revenue from operations of ₹24,584 crore and a loss of ₹382 crore. Profitability was affected by higher fuel prices, adverse foreign-exchange movements and the Middle East conflict.
IndiGo: Management estimated that fuel-cost pressures and rupee depreciation resulted in an adverse quarterly impact of approximately ₹200 crore. The airline reported a load factor of 83.3%, yield of ₹6.04 per kilometre and available seat kilometres of 43.5 billion.
Ras Resorts and Apart Hotels: Operations at the company’s Silvassa hotel were disrupted due to flooding.
Kabra Extrusion Technik: Temporarily suspended operations at its Daman facilities following heavy rainfall.
Jai Corp: Suspended operations at its Vasona plastic-processing units on July 23, 2026, after flooding entered the factory premises. Operations are expected to normalise gradually over the next few days.
Patel Engineering: Reported the conclusion of rescue operations relating to the Samardung Tunnel at the Teesta-VI project.
Meesho: Reported first-quarter consolidated revenue from operations of ₹3,713 crore and a net loss of ₹133 crore. The company also approved an additional investment of up to ₹75 crore in Meesho Grocery Private Limited.
Neutral
Sanjivani Paranteral: Approved the issuance of up to 5 lakh fully convertible warrants at ₹147.39 per warrant.
Ramco Systems: Ravikula Chandran R will retire as Chief Financial Officer, while Gayathri R has been appointed as the new CFO.
IIFL Capital Services: Approved the issuance of non-convertible debentures of up to ₹1,000 crore over one year.
Aye Finance: Approved the issuance of non-convertible debentures worth up to ₹220 crore.
Shivalik Rasayan: Approved the issuance of equity shares worth ₹9.30 crore.
Power Finance Corporation: Proposed increasing its borrowing limit from domestic and international markets to ₹9 lakh crore, along with foreign-currency borrowings of up to $25 billion, subject to shareholder approval.
IndiGo: Management expects the second quarter to be better than the first quarter in terms of fuel costs. Capacity measured in available seat kilometres is expected to remain broadly flat compared with the second quarter of FY2026.
IndiGo: Management reiterated that existing rules and regulations require airport and airline operations to remain separate.
Cipla: Retained its full-year North America EBITDA guidance at approximately 18.5%. The company expects the issue relating to Lanreotide to be resolved after the current financial year.
Cipla: Management said the company may reconsider launching semaglutide in India depending on the performance of tirzepatide, while semaglutide opportunities would be evaluated in global markets where patents expire.
Cipla: Management said tariffs remain an evolving situation and will be monitored. The company highlighted its manufacturing diversification capabilities and noted that approximately 35%-40% of its manufacturing is located within the United States.
Infosys: Approved the appointment of Ashiss Kumar Dash as CEO-designate until March 31, 2027, and intends to appoint him as Chief Executive Officer and Managing Director from April 1, 2027.
Infosys: Approved the incorporation of a step-down wholly owned subsidiary in Singapore.
Infosys: Management said the company has decided not to enter the data-centre business at present and expects token costs to become an important factor in the future.
Power Grid Corporation: The tenure of Burra Vamsi Rama Mohan as Chairman and Managing Director was extended up to July 1, 2026.
Mega Nirman & Industries: Appointed Ankan Gupta as Chairman and Managing Director.
Swiggy: Approved a ceiling of 49.5% on total foreign ownership in the company.
Cemindia Projects: Approved fundraising of up to ₹5,000 crore through a qualified institutional placement or other permitted modes.
Adani Power: Is evaluating nuclear-power technologies while awaiting greater policy clarity from the government.
5. Macro, Non-Corporate, Unlisted & Foreign Stocks
Tariff Escalation: The U.S. has implemented Section 301 tariffs ranging from 10% to 12.5% on 60 trading partners over forced labor enforcement gaps. Taking effect July 24, 2026, the policy replaces temporary Section 122 duties while exempting USMCA-compliant goods, energy, fertilizers, and Section 232 articles to protect vital supply chains.
Tesla: The U.S. Automotive major's shares drop 14.53% after posting first Cash Burn in 2 years.
Indian Equity Market: The Nifty 50 provisionally closed 0.52% lower.
Reserve Bank of India: Announced a ₹20,000 crore buyback auction of Government of India dated securities scheduled for July 28, 2026.
Reserve Bank of India: Imposed monetary penalties on Arvind Sahakari Bank, Rajnandgaon Kendriya Sahakari Bank Maryadit, Shri Baria Nagarik Sahakari Bank, Sindhudurg District Central Co-operative Bank, Mandya District Co-operative Central Bank and The City Co-operative Bank, Hassan.
RBI Money Supply: India’s broad money supply growth stood at 12.5% as of July 15, 2026.
Foreign Investment in E-commerce: The government amended foreign-investment rules for e-commerce to facilitate higher exports, including relaxation of certain restrictions for export-oriented activities.
Telecommunications: The government directed telecom operators to disable mobile data services in central parts of New Delhi, with companies reportedly complying with the order.
SEBI – Portfolio Managers: Proposed a comprehensive overhaul of the Portfolio Managers Regulations, including wider investment avenues, reduced compliance requirements and simplification of operating rules.
SEBI – Investment Flexibility: Proposed allowing portfolio managers to invest client funds in exchange-traded derivatives, overseas-listed debt and equity, securities proposed to be listed and investment-grade unlisted debt securities, subject to prescribed limits.
SEBI – New PMS Category: Proposed a new category of portfolio-management service that would invest exclusively in mutual-fund schemes.
SEBI – Dealing Rooms: Proposed removing the mandatory dealing-room requirement for portfolio managers with fewer than 10 clients or assets under management below ₹100 crore.
SEBI – Securities Transmission: Issued proposals for simplifying and standardising the framework governing transmission of securities to improve ease of investing and ease of doing business.
SEBI – Online Dispute Resolution: Released a consultation paper proposing streamlining of the online dispute-resolution framework in the Indian securities market.
Portfolio Management Regulations: India’s market regulator proposed widening investment opportunities available to portfolio managers while easing operational and compliance requirements.
Floods in South Asia: Heavy rains and flooding reportedly left 82 people dead across India, Pakistan and Afghanistan.
QatarEnergy: Extended force majeure on LNG supplies to certain Asian buyers and chartered out tankers through approximately mid-October.
Red Sea Energy Route: Continued disruption or closure of the Red Sea oil route could intensify pressure on global energy supply chains and shipping markets.
NSE: Will introduce futures and options contracts on Ather Energy, Bank of Maharashtra and Sagility India from August 2026.
6. Primary Market & Institutional Deals
On-going IPO:
Last Date 24-July:
Cube Highways Trust (InvIT)
Shree Balaji (Mala) Textiles Ltd (BSE SME)
Last Date 27-July:
Lohia Corp Ltd
Xtranet Technologies Ltd
INDO-MIM Ltd
Last Date 28-July:
Silverstone Parks And Resorts Ltd (BSE SME)
Upcoming IPO:
NIL
IPO Listing:
Caliber Mining and Logistics Ltd (BSE SME)
Bulk / Block Deals:
Dhabriya Polywood: Ashish Kacholia nearly exited Dhabriya Polywood by selling 5.76 lakh shares (almost his entire 5.32% stake) for ₹22.29 crore, while Surya Vanshi Commotrade sold 1 lakh shares. Abakkus Venture Opportunities Fund acquired 6.01 lakh shares (5.55%) for ₹23.32 crore, emerging as a significant shareholder.
Gandhar Oil Refinery India: Societe Generale purchased 6.84 lakh shares, representing a 0.7% stake in Gandhar Oil Refinery India, through a bulk deal worth ₹19.22 crore at an average price of ₹280.93 per share, reflecting institutional buying interest.
Oswal Pumps: ValueQuest India Investment Trust-owned VQ FasterCap Fund divested 5.98 lakh shares, equivalent to a 0.52% stake in Oswal Pumps, via a bulk deal valued at ₹20.54 crore at an average price of ₹343.61 per share.
7. Corporate Actions (July 24, 2026)
Securities Trading Ex-Dividend on July 24, 2026: Abbott India Ltd, Advanced Enzyme Technologies Ltd, Bhageria Industries Ltd, Bharti Airtel Ltd, Birla Corporation Ltd, Bombay Cycle & Motor Agency Ltd, CFF Fluid Control Ltd, Central Mine Planning & Design Institute Ltd, Chembond Chemicals Ltd, Concord Biotech Ltd, Cravatex Ltd, Crompton Greaves Consumer Electricals Ltd, Data Patterns (India) Ltd, Divis Laboratories Ltd, EL CID Investments Ltd, Fiem Industries Ltd, Fortis Healthcare Ltd, Hero MotoCorp Ltd, Info Edge (India) Ltd, Intellect Design Arena Ltd, Joindre Capital Services Ltd, Jubilant Ingrevia Ltd, Jubilant Pharmova Ltd, Karur Vysya Bank Ltd, Kirloskar Brothers Ltd, Lakshmi Electrical Control Systems Ltd, Mitsu Chem Plast Ltd, Neuland Laboratories Ltd, Nitta Gelatin India Ltd, NOCIL Ltd, Orient Bell Ltd, PDS Ltd, Radico Khaitan Ltd, Refex Industries Ltd, Rishabh Instruments Ltd, SIL Investments Ltd, Sasken Technologies Ltd, Shetron Ltd, Shyam Metalics and Energy Ltd, Siyaram Silk Mills Ltd, Steelcast Ltd, Swelect Energy Systems Ltd, Voltamp Transformers Ltd, Zydus Lifesciences Ltd
Securities Trading Ex-Bonus Issue on July 24, 2026: Kalind Ltd (1:2)
Securities Trading Ex-Stock Split on July 24, 2026: Jupiter Life Line Hospitals Ltd (From ₹10 to ₹2), Kalind Ltd (From ₹10 to ₹2)
Securities Trading Ex-Amalgamation on July 24, 2026: Indian Radiators Ltd
Securities Trading Ex-Income Distribution on July 24, 2026: Capital Infra Trust (InvIT)
Securities Under F&O Ban on July 24, 2026: NIL
Sources: WOWNEWS24X7, Moneycontrol, Investing.com
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