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Market Commentary - Mid-Session

Nifty trades below 23,650 mark; realty shares decline for 3rd day

24-Jul-2026, 10:30
The domestic equity benchmarks traded with significant losses in morning trade. The Nifty traded below the 23,650 mark. Realty shares extended losses for third consecutive trading sessions.

At 10:28 ST, the barometer index, the S&P BSE Sensex, tanked 911.09 points or 1.19% to 75,485.03. The Nifty 50 index fell 258.60 points or 1.08% to 23,614.75.

The broader market underperformed the frontline indices, the BSE 150 MidCap Index fell 1.30% and the BSE 250 SmallCap Index shed 1.43%.

The market breadth was weak. On the BSE, 922 shares rose and 2,627 shares fell. A total of 241 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 8.71% to 14.65.

Earnings To Watch:

ACC, Tata Consumer Products, Dr Lal Path Labs, Shriram Finance, Laurus Lab, Hindustan Zinc, Jindal Steel, SAIL, Moschip Technologies, SBI Cards Payments Services, SBI Life Insurance Company, Bank of Baroda, Bank of India, CG Power and Industrial Solutions, Aaron Industries, Arihant Capital Markets and Automotive Stampings and Assemblies, Atul, Welspun Corp, will declare their Q1 results later today.

Buzzing Index:

The Nifty Realty index fell 1.79% to 870.80. The index declined 6.09% in the three consecutive trading sessions.

Sobha (down 2.99%), Phoenix Mills (down 2.43%), Prestige Estates Projects (down 2.16%), Aditya Birla Real Estate (down 1.99%), Godrej Properties (down 1.68%), DLF (down 1.59%), Lodha Developers (down 1.55%), Oberoi Realty (down 1.54%), Brigade Enterprises (down 1.43%) and Anant Raj (down 1.41%) declined.

Stocks in Spotlight:

Route Mobile declined 4.70% after the company reported a 40.09% decline in consolidated net profit to Rs 68.55 crore for the quarter ended 30 June 2026, compared with Rs 114.43 crore in Q4 FY26. Revenue from operations rose 1.82% quarter on quarter (QoQ) to Rs 1,151.51 crore in Q1 FY27.

VST Tillers Tractors shed 0.42%. The company announced that its board has approved the appointment of Shuba Kumar as an independent director for a term of five consecutive years, effective from 27 July 2026, subject to shareholders' approval.