The SGX Nifty July 2026 futures are presently down by 32.00 points, indicating a likely negative opening for the benchmark index today.
Institutional Flows:
On 23 July 2026, provisional data indicated that foreign portfolio investors divested shares amounting to Rs 2,999.23 crore, whereas domestic institutional investors recorded net purchases totalling Rs 2,947.14 crore in the Indian equity market. The FIIs have divested shares amounting to Rs 7,836.18 crore thus far in July (up to 23 July 2026). This follows their cash sales of Rs 49,028.63 crore in June, Rs 55,963.33 crore in May, and Rs 70,135.46 crore in April.
Global Markets:
Asian shares declined on Friday as oil prices surged past $100 a barrel, driven by escalating tensions in the Gulf. This development unsettled bond markets and reignited concerns over a potential new inflationary shock. Brent crude remained at $100.85 a barrel, following a 7% surge overnight that brought it to a two-month high of $102. This increase was driven by attacks from Iran-aligned Houthis on Saudi tankers in the Red Sea, which disrupted a vital Middle East route for global oil supplies, in conjunction with Iran’s near-closure of the Strait of Hormuz.
Two weeks have elapsed since the effective collapse of an interim truce intended to conclude the conflict, during which the U.S. military initiated air strikes on Iran early Friday morning, while Tehran retaliated by targeting neighbouring Arab nations that host U.S. military installations. With the conflict exhibiting minimal signs of resolution, Brent has reportedly surged nearly 40% this month alone. News that the U.S. administration will impose higher tariffs on goods from 60 trading partners has further complicated the inflation landscape, as 30-year Treasury yields approach their highest levels since 2007 and benchmark European borrowing costs rise to peaks not observed since 2011.
Overnight on Wall Street, U.S. equities experienced a decline on Thursday, coinciding with a surge in oil prices due to escalating conflict in the Middle East. Investors were also assessing quarterly results from two of the largest companies globally, with Alphabet’s report raising concerns regarding heightened spending on artificial intelligence. The Dow Jones Industrial Average experienced a decline of 506.93 points, representing a decrease of 0.97%, concluding the session at 51,711.65. The S&P 500 experienced a decline of 1.21%, settling at 7,408.30, whereas the Nasdaq Composite fell by 2.15%, concluding at 25,137.69. The tech-heavy index experienced a setback, primarily due to a 7% decline in Alphabet and a 14% decrease in Tesla after the release of their earnings reports.
Domestic Market:
Key benchmark indices continued to decline for a fourth consecutive session on Thursday. Increasing crude oil prices and heightened geopolitical tensions in the Middle East have negatively impacted investor sentiment. The Nifty concluded its trading session beneath the 23,900 threshold. Broader indices experienced a downturn, with both the Midcap and Smallcap indices registering a decline of 1% each. Sectoral weakness was widespread, primarily driven by declines in realty, oil & gas, infrastructure, and public sector banks, with the auto and media sectors standing out as the sole gainers.
The Nifty has exhibited signs of technical weakness, with immediate support identified in the range of 23,750-23,780 and resistance positioned near the 24,000 threshold. The S&P BSE Sensex experienced a decline of 363.66 points, representing a decrease of 0.47%, closing at 76,391.39. The Nifty 50 index experienced a decline of 126.65 points, representing a decrease of 0.53%, closing at 23,896.60. Over four consecutive sessions, the Sensex has experienced a decline of 2.25%, whereas the Nifty has decreased by 1.90%.