The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday as weak global cues and escalating geopolitical tensions in the Middle East continue to weigh on investor sentiment.
Asian markets traded mixed, while Wall Street ended lower ahead of key corporate earnings announcements.
At around 7:29 AM, GIFT Nifty was trading near 24,142, nearly 140 points below the previous close of Nifty futures, indicating a weak start for domestic equities.
Geopolitical tensions remained elevated after two oil tankers caught fire following explosions while attempting to pass through the southern route of the Strait of Hormuz. Iran’s Revolutionary Guards stated that the strait would remain closed as long as U.S. military operations continued in the region. The Guards also claimed to have targeted U.S. military installations in Bahrain, including radar and air Defence systems in Muharraq.
India’s output from the nine core infrastructure sectors grew 5 per cent in June, the fastest pace in five months. The growth compares with 1.1 per cent in June 2025 and 3.2 per cent in May 2026, indicating improving industrial activity.
Crude oil prices eased amid reports of mediation efforts between the U.S. and Iran. Brent crude declined 0.37 per cent to USD 88.89 per barrel, while U.S. WTI crude for September delivery was largely unchanged at USD 82.47 per barrel.
Gold prices remained steady as investors closely tracked developments in the Middle East. Spot gold traded near USD 4,008.83 per ounce, while silver fell 0.2 per cent to USD 56.31 per ounce. Meanwhile, the U.S. Dollar Index (DXY) hovered near a one-week high of 100.96, its strongest level since July 15.
From the derivatives perspective, the Put-Call Ratio (PCR) stood at 1.35. On the put side, significant open interest addition was witnessed at the 23,900 strike, while the highest open interest among the nearest in-the-money strikes remained at 24,200 and 24,000. On the call side, the highest open interest addition was seen at the 24,500 strike. Call unwinding was observed at the 24,800 strike, while the highest overall call open interest remained concentrated at the 24,500 strike.
Technically, Nifty 50 continues to trade in a consolidation range with 24,100 acting as the immediate support level. A decisive break below this level could trigger fresh profit booking and drag the index towards the 24,000 mark. On the upside, the 24,300-24,400 zone remains the key resistance. A sustained move above this range could strengthen bullish momentum and support further gains.
Among stocks to watch, Bajaj Healthcare reported a 14.1 per cent year-on-year rise in Q1 profit to Rs 13.9 crore, while revenue increased 11.3 per cent to Rs 165.6 crore. SML Isuzu posted a 5 per cent decline in Q1 profit to Rs 63.6 crore despite revenue rising 13.2 per cent to Rs 957.5 crore.
Sobha reported a nearly four-fold jump in consolidated Q1 profit to Rs 50.8 crore from Rs 13.6 crore, while revenue surged 50 per cent to Rs 1,278.2 crore. Canara HSBC Life Insurance Company posted a 20.2 per cent increase in Q1 profit to Rs 28.1 crore, with net premium income rising 23.8 per cent to Rs 2,047.5 crore and net commission income increasing 21.8 per cent to Rs 117.2 crore.
Rallis India reported a 31.6 per cent rise in Q1 profit to Rs 125 crore, while revenue grew 6.8 per cent to Rs 1,022 crore. Bluestone Jewellery and Lifestyle posted a Q1 profit of Rs 6.96 crore compared with a loss of Rs 34.5 crore a year ago, while revenue jumped 49.6 per cent to Rs 736.8 crore.
Wanbury will remain in focus after its Andhra Pradesh manufacturing facility completed a routine U.S. FDA cGMP inspection and received Form 483 with six observations. Redington signed a five-year strategic distribution partnership with Resulticks to expand customer engagement solutions across the Middle East, India, and South East & South Asia.
InterGlobe Aviation (IndiGo) also remains in focus after signing a memorandum of understanding with CFM International for more than 1,000 LEAP-1A engines to power 510 Airbus A320neo family aircraft. The agreement also includes long-term material services and support for the airline’s upcoming maintenance, repair and overhaul facility.
Kaynes remained under the F&O ban list for July 21.
Foreign Institutional Investors (FIIs) were net sellers on July 20, offloading equities worth Rs 1,121.04 crore. Domestic Institutional Investors (DIIs), on the other hand, were net buyers, purchasing shares worth Rs 1,312.03 crore.
Indian equity benchmarks ended lower on Monday as the ongoing U.S.-Iran conflict kept investors cautious. The Sensex declined 442.93 points, or 0.57 per cent, to close at 77,708.52, while the Nifty 50 fell 95.80 points, or 0.39 per cent, to settle at 24,238.50.
U.S. markets also finished lower as investors awaited quarterly earnings from major technology companies. The Dow Jones Industrial Average fell 307.16 points, or 0.59 per cent, to 51,839.26. The S&P 500 lost 14.41 points, or 0.19 per cent, to 7,443.28, while the Nasdaq Composite slipped 12.17 points, or 0.05 per cent, to 25,508.07. Among major technology stocks, Nvidia gained 0.23 per cent, AMD advanced 1.58 per cent and Microsoft rose 2.15 per cent. Apple declined 2.14 per cent, Tesla fell 2.96 per cent and SpaceX dropped 3.34 per cent.