SENSEX, NIFTY50 snap three-day winning run on spike in crude oil

The Indian equity benchmarks snapped their three-day winning streak on Tuesday, July 14, as investor sentiment turned cautious tracking a surge in crude oil after US Central Command (CENTCOM) said that its forces will resume blockading maritime traffic entering and exiting Iranian ports on July 14.

The SENSEX fell as much as 615 points and NIFTY50 index touched an intraday low of 24,024 dragged down by losses in the index heavyweights like HDFC Bank, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, HCL Technologies and Kotak Mahindra Bank.

The SENSEX ended 561 points lower at 77,055 and NIFTY50 index dropped 159 points to close at 24,052.

Back home, selling pressure was broad-based as 11 of 15 sector gauges compiled by the National Stock Exchange (NSE) ended lower led by the NIFTY Realty index's 1.97% fall. Auto, Bank, Financial Services, IT, PSU Bank and Private Bank indices also declined between 0.85% and 1.6%.

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

Broader markets also faced selling pressure as NIFTY Midcap 100 index declined 0.44% and NIFTY Smallcap 100 index dropped 1%.

Among the individual shares, Nuvoco Vistas surged as much as 13% to hit an intraday high of ₹358.80 after the company said that its cement capacity in the first quarter of current financial year rose from 27 million metric tonnes per annum (MMTPA) to 35 MMTPA.

Jindal Saw fell nearly 6% after its net profit dropped 75% April to June quarter.

Jubilant FoodWorks shares fell as much as 2.2% as the firm received a GST demand notice.

In a regulatory filing, the quick-service restaurant chain operator said it has received a demand notice of ₹46.9 crore. The company, however, said it will challenge the GST department's notice.

HCL Tech was top loser in the NIFTY50 index, the stock fell 4.63% to close at ₹1,164 after its Q1 earnings failed to enthuse investors.

HCL Tech posted a 20.32% year-on-year (YoY) surge in its consolidated net profit (attributable to the owners of the company) to ₹4,624 crore during the quarter under review, compared with ₹3,843 crore in the June quarter of the 2025-26 fiscal year (Q1 FY26).

Shriram Finance, HDFC Life, Tata Motors PV, State Bank of India, IndiGo, Bajaj Finserv, Jio Financial Services, Mahindra & Mahindra and Larsen & Toubro also fell between 2.1% and 3.43%.

On the flip side, Bharti Airtel, Apollo Hospitals, Sun Pharma, Dr Reddy's Labs, Tata Steel, JSW Steel and TCS were notable gainers in the NIFTY50 index.

The overall market breadth was extremely negative as 2,278 shares ended lower while 1,022 closed higher on the NSE.