Market Midday, 22 July 2026: Benchmarks In Red In Afternoon Trade

Elevated oil prices due to the US-Iran tensions ensured benchmark indices, the Sensex and Nifty 50, continued to trade in the red in the afternoon session. At 11:44 am, the Sensex was down 0.71%, while the Nifty 50 was down 0.60% during the same time. Broader markets were also trading in the negative territory. At 11:45 am, the:

• Nifty Midcap 100 index was down by 0.63%.

• Nifty Smallcap 100 index was down by 1.09%.

Top Stocks On The Nifty 50

Stocks of the following firms were the top five performers on the Nifty 50 index at 11:46 am:

• Bajaj Auto Ltd.

• Nestle India Ltd.

• Titan Company Ltd.

• Hindustan Unilever Ltd.

• NTPC Ltd.

Stock-Specific Action

• Sun Pharma, Dr Reddy's Laboratories, Cipla, Lupin and Aurobindo Pharma shares declined up to 2.5% in early trade after US President Donald Trump announced up to 200% tariffs on generic drugs.

• Bandhan Bank Ltd shares fell as much as 14% in early trade after the bank declared its Q1 FY27 results.

• Indian Hotels Company shares dropped 2% in early trade despite the hotel chain reporting an 18.5% year-on-year (YoY) rise in its net profit for Q1 FY27.

• Bajaj Auto shares rose 2.5% in early trade after the company reported a net consolidated profit of ₹3,226 crore for Q1 FY27.

• SBI Funds Management shares fell 3% in early trade after the company made a strong debut on D Street yesterday.

IPO Corner

In the primary markets:

• Cube Highways Trust InvIT and Shree Balaji Mala opened their initial public offers (IPOs) for subscription today. Both IPOs are book-building issues and are worth ₹5,000 crore and ₹18.90 crore, respectively.

• Metalic Technoforge IPO enters its second day of subscription today. Through the IPO, the company plans to raise ₹49.96 crore.

• Today is the third day of subscription for Gulf Lloyds (India) IPO. It's a book-build issue worth ₹18.19 crore.

For the remainder of the trading session, investors will keep an eye on the trajectory of global crude oil prices, developments surrounding the US-Iran tensions and stock-specific earnings. All of these can heavily influence market sentiment in the remaining hours.

Also Read - BPCL Q1 FY27 Results Today: Crude Price Surge Likely To Push Oil Retailer Into Loss