On Friday, July 18, Indian equity benchmark indices ended the session in the red, led by a sharp fall in Axis Bank and HDFC Bank.
The markets opened on a flat note, but as the day progressed, selling pressure intensified. However, during the second half of the trading session, the indices hovered in a narrow range, though they remained in negative territory. Eventually, the Nifty 50 closed below the 25,000 mark, down 143.05 points or 0.57%, while the Sensex declined by 501.52 points or 0.61%.
Selling pressure was broad-based—the Nifty Bank fell nearly 1%, and the Nifty Midcap 100 and Nifty Smallcap 100 ended lower by 0.70% and 0.82%, respectively.
Stock-Specific Highlights
Among individual stocks:
- Axis Bank declined by over 5% after announcing its Q1FY26 results. The private sector lender reported a year-on-year decline in net profit, primarily due to a significant surge in slippages, which led to higher loan loss provisions.
- Wipro ended higher by nearly 2.5% after reporting a 53.7% YoY jump in profit for Q1FY26. The IT major also reported large deal bookings worth $2.7 billion, marking a 131% YoY increase.
Nifty Media - Top Gainer of the Day
The Nifty Media index ended higher by 0.96% on Friday. Saregama and PVR Inox rallied over 4% each. In contrast, Nifty Bank and Nifty Financial Services declined by nearly 1%.
Nifty 50: Top Pullers and Draggers of the Day
Top Contributors (Pullers):
- ICICI Bank: +13.83 points
- ONGC: +2.67 points
- Infosys: +2.67 points
Top Draggers:
- Axis Bank: –44.77 points
- HDFC Bank: –36.25 points
- Bharti Airtel: –19.56 points
Broader Markets Remain Under Pressure
Both the Nifty Midcap 100 and Nifty Smallcap 100 indices ended lower, down 0.70% and 0.82%, respectively, mirroring the weakness in the benchmark indices.
Disclaimer: The article is for informational purposes only and not investment advice.
