Market Wrap, July 22: Indices reverse early gains; NIFTY50 and Sensex close flat, Shriram Finance top loser, Eternal soars over 10%

The Indian stock market snapped its early gains and settled almost flat on Tuesday, July 22, as investors remain jittery with the ongoing earnings season and continuous foreign outflows.

The overall market sentiment remained under pressure—majorly dampened by losses in the pharma, banking, and realty counters. The Nifty Bank also closed lower by almost 200 points, dragged by AU Small Finance Bank (-3.75%), Canara Bank (-3.75%), and Punjab National Bank (-2.96%).

According to exchange data, on Monday, the foreign institutional investors (FIIs) sold equities worth ₹1,681.23 crore on a net basis, while the domestic institutional investors (DIIs) purchased ₹3,578.43 crore worth of equities.

On the global front, the Asian stocks settled mixed on Tuesday as investors are assessing the resilience of corporate earnings on Wall Street amid tariff threats.

Japan's Nikkei ended down 0.11% at 39,774.92 levels, while Hong Kong's Hang Seng was seen at the 25,130.03 level, rising 0.54%.

The Shanghai Composite also closed higher by 0.63% at 3,581.86 levels. South Korea’s Kospi index slipped 1.29% to 3,169.94.

Meanwhile, the US stocks closed higher on Monday ahead of corporate earnings reports and tariff negotiations with its trading partners.

The Dow Jones Industrial Average slipped 18.66 points, or 0.04%, to end at 44,323.53, while the S&P 500 gained 8.89 points, or 0.14%, to close at 6,305.68, and the Nasdaq Composite climbed 78.52 points, or 0.38%, to the 20,974.18 level.

As many as 3,032 stocks traded on the NSE on Tuesday. Out of this, 1,275 advanced and 1,672 declined, while 85 scrips remained unchanged.

This, however, indicates that the market breadth favoured decline.

A total of 74 stocks hit their 52-week highs, while 24 stocks touched their one-year lows. Besides, 81 stocks hit their upper circuit limits, and 41 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹456.11 lakh crore.

The volatility index India VIX slumped 4.01% to 10.75 levels.

The NIFTY Midcap 100 index tumbled 0.61%, ending at 59,103.40 levels, while the NIFTY Smallcap 100 gauge lost 0.34% to close at 18,893.35 levels.

Shriram Finance was the biggest laggard, falling 2.25%, followed by Eicher Motors (-2.11%), Jio Financial Services (-1.97%), Adani Ports (-1.77%), and Bajaj Auto (-1.76%).

On the flip side, Eternal soared 10.32% at the end of the session, becoming the top gainer following its June quarter earnings.

HDFC Life Insurance (1.36%), Hindalco Industries (1.15%), Titan (1.06%), and Bharat Electronics (0.88%) were the other most rising stocks on the 50-share index.