Indian equity benchmark indices, the Sensex and Nifty, opened in the red amid weak global cues on July 20, 2026, as crude oil prices surged due to escalating geopolitical tensions in the Middle East. While the 30-share BSE Sensex opened flat at 78,151.45, it soon dipped 609.37 to hit the low of 77,542.08; the Nifty shed 144.25 points to open at 24,190.05. In the last trading session, the Nifty 50 had closed at 24,334.30. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index was down by 5.75 points, the BSE Smallcap Select Index dropped 5.63 points or 0.06 per cent, to trade in the red at 8,709.35.
From the Sensex pack, Tech Mahindra, ICICI Bank, Reliance, Bharati Airtel and Sun Pharma were the gainers, with Tech Mahindra leading the pack by gaining nearly 1.58 per cent in the early trade. On the other hand, Axis Bank, HDFC Bank, Kotak Bank, Indigo, and M&M were among the losers, with Axis Bank the top loser, down over 4.68 per cent.
In early trade, market breadth was positive, with 1,111 stocks advancing against 1,140 stocks declining on the NSE. 221 stocks remained unchanged.
“There are near-term headwinds and tailwinds for the market now. The strongest headwind is Brent crude spiking above $90 on escalating tensions between US and Iran. If this trend continues, India’s vulnerability to energy shock will resurface with negative implications for the rupee and FPI flows. On the positive side, the weakening of the AI trade continues in markets like the US, South Korea and Taiwan,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, indicated a subdued start today as it opened with a gain of 24.5 points at 24,373.50, compared to the previous close of 24,349. Foreign Institutional Investors (FIIs) remained net sellers for the fourth consecutive trading session and sold equities worth Rs 376.41 crore on July 17, 2026. However, Domestic Institutional Investors (DIIs) remained consistent buyers for the eighth straight session, buying equities worth Rs 1,017.89 crore.
Asian Markets Today
Asian shares declined on Monday as oil prices climbed above USD 90 a barrel amid escalating conflict in the Middle East. Hong Kong’s Hang Seng dropped 517.76 points or 2.11 per cent. South Korea’s Kospi traded in the red, down 281.49 points. However, Shanghai’s SSE Composite index was in the green with a gain of 44.24 points or 1.18 per cent. Meanwhile, the Japanese stock market (Tokyo Stock Exchange) is closed today due to the Marine Day public holiday.
