Nifty 50 closed 22 points, or 0.09%, lower at 24,509.25, and the Sensex closed 103 points, or 0.13%, lower at 80,502.08. The fall in key indices was largely attributed to poor performance in select heavyweight stocks such as Reliance Industries, Kotak Mahindra Bank, ITC, and Wipro.
However, gains in shares of HDFC Bank, Infosys, and Mahindra & Mahindra helped cushion the indices. Mid and smallcap segments of the market witnessed healthy gains, with the BSE Midcap index rising 1.27% and the Smallcap index climbing 0.83%.
Impact on the stock market
The sectoral indices, Nifty Auto (up 1.15%), Healthcare (up 1.10%), Pharma (up 1.06%), and Metal (up 1.02%) indices clocked healthy gains. This sectoral performance contributed to the overall resilience seen in the mid and small-cap segments of the market.
| Sector/Index | Performance |
| IT & BPM sector | -0.43% |
| Healthcare sector | 1.01% |
| Oil & Gas sector | -0.58% |
| Real estate sector | -0.48% |
| PSU Bank in India | 0.25% |
Top gainers today
| Company | Price | Change (%) |
| Grasim share price | 2,811.55 | +2.50 |
| NTPC share price | 373.50 | +2.43 |
| UltraTechCement share price | 11,515.70 | +2.29 |
| HDFC Bank share price | 1,642.55 | +2.19 |
| Dr Reddys Labs share price | 6,770.90 | +2.03 |
Top losers today
| Company | Price | Change (%) |
| Wipro share price | 505.80 | -9.22 |
| Kotak Mahindra share price | 1,757.55 | -3.52 |
| Reliance share price | 3,001.35 | -3.50 |
| ITC share price | 466.55 | -1.69 |
| SBI Life Insura share price | 1,621.15 | -1.61 |
Market aftermath: Impact on stocks
Indian Hotels Surges 7% on Q1 Results, Up 40% YTD
Shares of Indian Hotels Company (IHCL) jumped 7% to ₹616 after reporting healthy Q1FY25 results. The company’s revenue increased by 5.7% year-on-year to ₹1,550 crore, while net profit rose by 10% to ₹260 crore.
EBITDA climbed 9.6% to ₹450 crore, with margins expanding by 10 basis points to 29%. Despite the positive performance, HDFC Securities issued a ‘reduce’ call due to expensive valuations, setting a target price of ₹540 per share. So far this year, IHCL’s stock has rallied over 40%, compared to the Nifty 50’s 12% rise.
You may also read: Indian hotels company limited
Fertilizer Stocks Surge 13% Ahead of Budget
Fertilizer stocks surged up to 13% a day before the Union Budget, driven by expectations of continued support for the rural economy. The interim budget had estimated the fertilizer subsidy requirement for FY25 at ₹1.64 lakh crore.
Investors speculated about the allocation in the upcoming budget, with hopes of retained or increased subsidies supporting the sector’s growth.
IDBI Bank Rises 3% After 40% Q1 Profit Jump
IDBI Bank shares rose 3% after reporting a 40% jump in Q1 net profit to ₹1,719.27 crore. The profit increase was driven by improved performance and lower non-performing assets (NPA).
The lender’s gross NPA improved by 118 basis points year-on-year to 3.87%, while the net NPA stood at 0.23%, a drop of 21 basis points. The stock was trading at ₹91.29, up 2.73% on the NSE.
Crude oil
Crude oil futures traded higher on Monday as China lowered its lending rate to stimulate economic growth. September Brent oil futures were up 0.58% at $83.11, and September crude oil futures on WTI rose 0.52% to $79.05.
On the Multi Commodity Exchange (MCX), August crude oil futures were trading at ₹6,625, up 0.20%, and September futures at ₹6,565, up 0.18%. The rate cut in China aimed to boost demand, positively impacting crude oil prices.
Conclusion
July 22 was marked by mixed movements in the Indian stock market, driven by earnings reports and sector-specific news. Companies like IHCL and IDBI Bank reported strong results, boosting their stock prices.
The fertilizer sector remained optimistic ahead of the Union Budget, while crude oil prices rose due to China’s economic stimulus measures. Investors should stay informed about these trends to navigate the market effectively.
Stay tuned on StockGro for more updates on market trends.
