Market Close Report, July 28, 2026: Sensex, Nifty Finish Flat As Fragile US-Iran Pause Keeps Investors On Edge

Mumbai, July 28: Indian equity benchmarks ended largely flat on Tuesday, with strong gains in information technology stocks countering broad-based selling as the pause in Iran war kept stocks on edge. Investors also remained focused on quarterly earnings, crude oil prices and global cues amid shifting expectations around US-Iran tensions. 

The Sensex ended 69.86 points, or 0.09%, lower at 76,765.92, while the Nifty 50 declined 10.60 points, or 0.04%, to 23,985.35. The market breadth remained weak, with 1,539 shares advancing against 2,543 declines, while 155 stocks were unchanged. 

The benchmarks struggled to extend Monday’s sharp rebound, when the Sensex and Nifty had gained around 1% each and snapped a five-session losing streak. Tuesday’s expiry-day volatility reflected a tug-of-war between strong buying in technology stocks and pressure across several heavyweight sectors. 

IT stocks lead gains 

Information technology stocks emerged as the biggest bright spot, with the Nifty IT index climbing 3.2% to lead sectoral gains. The sector was supported by broad-based buying, with TCS emerging as the top Nifty gainer, surging 4.47%. Tech Mahindra also advanced 3.82%. 

Eternal gained 4.23%, while Nestle India and Cipla rose 3% and 2.5%, respectively, adding to the positive momentum in select large-cap stocks. 

Nifty Realty also ended 2% higher, while the Nifty Consumer Durables index gained 1.08%. The Nifty Auto index rose 0.69% and Nifty Pharma edged up 0.2%. 

HUL, BEL, Coal India among major losers 

On the losing side, Hindustan Unilever emerged as the biggest laggard among major stocks, plunging 7% after the FMCG major’s June-quarter results. The sharp decline weighed on the broader consumer sector, with Tata Consumer Products also falling 2.2%. 

Defence major Bharat Electronics declined 4.24% after its quarterly results, as weaker-than-expected operating margins overshadowed strong revenue growth. Coal India fell 4% after its June-quarter profit missed expectations, while NTPC declined 2%. 

The Nifty FMCG index fell 1.4%, making it one of the weakest sectoral performers, while the Nifty Energy index dropped 1.7%. 

Banks, metals also under pressure 

Banking stocks also weighed on the benchmarks, with the Nifty PSU Bank index declining 0.9% and the Nifty Bank index falling 0.58%. The Nifty Private Bank index slipped 0.4%. 

The Nifty Metal index declined 0.6%, while Nifty Infra and Nifty Media fell 0.5% and 0.34%, respectively. 

The weakness in banks and energy stocks limited the impact of gains in IT and other select sectors, keeping the headline indices near the flat line through the session. 

Broader market mixed 

The broader market ended on a mixed note, with the Nifty Midcap 100 index edging up 0.1%, while the Nifty Smallcap 100 index declined 0.2%. 

The uneven market breadth indicated continued caution among investors despite Monday’s strong rebound. With the June-quarter earnings season gathering momentum, stock-specific moves are likely to remain prominent in the near term. 

Investors will also track crude oil prices and developments around US-Iran tensions. Softer oil prices remain supportive for India, a major crude importer, but uncertainty over the geopolitical situation continues to influence global risk sentiment. 

Overall, Tuesday’s expiry session reflected a market caught between optimism around technology stocks and selling pressure in key domestic sectors. The Nifty’s inability to sustain levels above 24,000 could keep investors cautious, with upcoming earnings and global cues likely to determine the market’s next directional move. 

Source

• NSE
• BSE