SENSEX, NIFTY50 fall for second straight session dragged HDFC Bank, Reliance Industries

The Indian equity benchmarks declined for a second straight session on Tuesday, July 21, defying positive trend in global markets as index heavyweights like HDFC Bank, Reliance Industries, State Bank of India, Infosys, Tata Consultancy Services, Power Grid and ITC. The SENSEX fell as much as 371 points and NIFTY50 index touched an intraday low of 24,135.

The SENSEX ended 238 points lower at 77,470 and NIFTY50 index declined 51 points to close at 24,188.

Asian markets ended higher as mediation efforts in the Middle East pushed oil prices away from a one-month high, while investors braced for a slate of corporate earnings that will test an under-pressure AI trade, news agency Reuters reported.

Japan's Nikkei rose 3.29%, China's Shanghai Composite index climbed 1.79% and South Korea's KOSPI surged 3.56%.

Back home, eight of 15 major sector gauges compiled by the National Stock Exchange ended lower led by the NIFTY PSU Bank index's 0.88% fall.

NIFTY Bank, Financial Services, FMCG, IT, Consumer Durables and Oil & Gas indices also fell between 0.15% and 0.6%.

On the other hand, auto, metal, pharma, realty and healthcare shares witnessed buying interest.

Broader markets outperformed their larger peers as NIFTY Midcap 100 index rose 0.3% and NIFTY Smallcap 100 index advanced 0.53%.

Among the individual shares, TVS Motor shares closed 5.6% higher at ₹3,792 after the company reported its highest-ever quarterly revenue of ₹13,896 crore, up 38% from ₹10,081 crore in the corresponding quarter of the previous fiscal, the earnings release showed.

TVS Motor also posted a record EBITDA of ₹1,779 crore, marking a 41% year-on-year increase from ₹1,260 crore. Its EBITDA margin improved by 30 basis points to 12.8%, compared with 12.5% in the year-ago period.

Profit after tax (PAT) rose 51% to ₹1,174 crore from ₹776 crore in the June quarter of FY26.

Karur Vysya Bank shares rose as much as 13.43% to hit an intraday high of ₹341.80 after it recorded a 45% year-on-year (YoY) jump in net profit to ₹755.70 crore in the April-June period.

The bank’s net interest income, or the difference between the interest earned and interest expense, increased by 31% to ₹1,423 crore, from ₹1,080 crore in the corresponding quarter of the previous year.

HDFC Bank was top loser in the NIFTY50 index, the stock fell 2% to ₹761. Infosys, State Bank of India, Tata Consultancy Services, Reliance Industries, Dr Reddy's Labs, Tata Consumer Products, Trent, Bajaj Auto and Wipro also fell between 0.9% and 1.5%.

On the flip side, Shriram Finance, Bajaj Finserv, Eicher Motors, Ultratech Cement, HCL Technologies, Mahindra & Mahindra, IndiGo and Kotak Mahindra Bank were top gainers in the NIFTY50 index.

The overall market breadth was positive as 1,812 shares ended higher while 1,505 closed lower on the NSE.