Sensex Down 600 pts, Nifty Slips 160 pts at Noon as Weak Global Cues Rule; Oil Prices Top $90

Mumbai, July 20: Indian benchmark indices continued to trade lower at noon on weak Asian cues, Wall Street indices and rising crude oil prices on Monday. US forces launched strikes against Iran for the ninth straight day on Monday. BSE Sensex traded 605.16 points or 0.77 per cent lower at 77,546.29 while Nifty 50 fell 157.30 points or 0.65 per cent to 24,177 as on 12:05 pm. The market depreciation comes despite investors continued hope for strong June-quarter earnings to bail the market out of the geopolitical crisis. 

Gainers & Losers 

Trent was the top gainer in Nifty 50 pack as it jumped 2.62 per cent to Rs 2,917 against its previous close of Rs 2,842.40. Shares of Cipla surged 2.03 per cent to Rs 1,447.50 from its previous close of Rs 1,418.70. JSW Steel added 1.95 per cent to Rs 1,261.40 versus Rs 1,237.30. Bharti Airtel gained 1.47 per cent at Rs 1,936.90 from Rs 1,908.80. NTPC went up 1.26 per cent to Rs 346.15 against Rs 341.85. 

Axis Bank fell 5.43 per cent to Rs 1,256.40 against its previous close of Rs 1,328.50. HDFC Bank dropped 4.87 per cent to Rs 779.70 from Rs 819.60. Kotak Mahindra Bank declined 2.41 per cent to Rs 380.55. Maruti fell 1.82 per cent to Rs 13,552 from Rs 13,803. Jio Financial Services declined 1.72 per cent to Rs 238.81 against Rs 242.98. 

Broader Markets & Sectoral Indices 

Among broader markets, Nifty Next 50 index gained 0.32 per cent while Nifty Midcap 100 added 0.29 per cent and Nifty Smallcap 100 rose 0.06 per cent. Meanwhile, Nifty 100 declined 0.43 per cent, Nifty 200 slumped 0.29 per cent and Nifty 500 eased 0.25 per cent. Sectorally, Nifty PSU Bank jumped 1.38 per cent and Nifty Pharma climbed 1.10 per cent. Nifty Oil & Gas rallied 0.41 per cent. Contrary to it, Nifty Private Bank tanked 2.43 per cent while Nifty Financial Services plunged 1.77 per cent. Nifty Bank ended 1.45 per cent lower. 

Iran War 

US launched missile attacks on Iran for the ninth consecutive day on Monday. Iran stated that the American attacks were a violation of last month’s interim ceasefire agreement. The number of confirmed American deaths in the conflict rose to three and pushed the total US death toll from the war to 17. The Revolutionary Guard Corps said it hit a site in Syria. Kuwait said it had come under attack on a desalination plant for the second time in as many days. Tensions grew over shipping through the Strait of Hormuz as neither side appeared to be backing down. 

Asian Markets 

Asian shares were trading mostly lower on Monday after US forces struck Iran again. Japan’s benchmark Nikkei 225 plunged 4.03 per cent to 64,141.12 on rising tensions over Iran. Hang Seng Index in Hong Kong went against the broader Asia trends and rallied 1.81 per cent to 25,007.63. Shanghai Composite Index declined marginally by 0.23 per cent to 3,755.31. KSE 100 in Pakistan tumbled 1.30 per cent. 

US Markets  

The Dow Jones Industrial Average ended Friday’s session down 0.77 per cent at 52,146.42, while Nasdaq Composite slid 1.40 per cent to close at 25,520.24. S&P 500 settled 1.01 per cent lower at 7,457.69. The 30-share benchmark tanked after traders became risk-off ahead of escalating tensions between US and Iran. 

Oil Prices 

Crude oil prices surged by 3 per cent on Monday as Brent crude futures rose above 90 dollars for the first time since June 11 after the US launched missile strikes on Iran. Gold prices dipped further as spot gold was down by 0.4 per cent at 4,000.55 dollars an ounce. 

Morning Session 

Indian benchmarks opened sharply lower on Monday after snapping their four-session winning streak. Asian cues were weak and Wall Street tumbled on Friday impacted investors sentiment even as crude oil prices continued its upward march. Sensex traded lower by 555.62 points or 0.71 per cent at 77,595.83 as on 9:30 am. Nifty 50 traded lower by 153.45 points or 0.63 per cent at 24,180.85 as on 9:32 am. Market fell deeper as US forces carried out attacks on Iran for nine straight days. Meanwhile, traders continued to expect a robust June quarter earning season to support market. 

Sources:

• BSE
• NSE
• https://www.reuters.com/world/middle-east/us-launches-iran-strikes-ninth-day-another-american-confirmed-killed-2026-07-20/
• https://www.reuters.com/world/india/gold-slips-oil-prices-advance-fed-rate-hike-voices-grow-2026-07-20/
• https://www.reuters.com/markets/stocks/asia-pacific/