Sensex, Nifty at open: Indian benchmark indices opened Thursday’s trading session on a weak note. At the opening bell, the Sensex declined 350.99 points or 0.46% to 76,404.06, while the Nifty 50 slipped 92.25 points or 0.38% to 23,904.00.
Among the early losers on the sensex 30 pack were IndiGo, down 1.60%, followed by Infosys (-1.07%), Tata Steel (-0.97%), Bajaj Finance (-0.86%) and UltraTech Cement (-0.84%).
“The Houthi’s aggressive entry into the Iran-U.S. conflict by attacking Saudi Arabian tankers in the Red Sea is aggravating the West Asia crisis and pushing Brent crude higher. When Brent crude trades above $95, which is the price now, it is bound to have sentimental impact on the Indian market. India’s vulnerability to high oil price is once again becoming a macro concern,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Markets before pre-open: Indian benchmark indices are expected to open Thursday’s session on a cautious note. While GIFT Nifty was trading in the red during early trade, investors will also keep a close watch on global equity trends, crude oil prices, gold and silver rates, foreign institutional investor (FII) activity, currency movement and the ongoing June quarter (Q1FY27) earnings season, which could influence market sentiment through the day.
GIFT Nifty signals a muted opening
Early indications suggest a weak start for Dalal Street.
At this hour, GIFT Nifty was trading at 23,900, down 61.5 points or 0.26%, indicating that the Sensex and Nifty could begin the session on a subdued note.
Key global and domestic cues for July 23, 2026
Asian markets trade higher
Most Asian markets were trading in positive territory.
Japan’s Nikkei 225 advanced 1.28% in early trade, while South Korea’s Kospi surged 3.61%.
US futures edge higher
US stock futures traded with modest gains in early Thursday trade.
Dow Jones futures were up 87 points or 0.17%.
US markets
In the previous session, US markets ended mixed. The Dow Jones Industrial Average slipped 6.06 points or 0.01% to close at 52,218.58. The S&P 500 declined 0.14% to 7,498.96, while the Nasdaq Composite fell 0.57% to 25,690.90.
Crude oil extends its rally
Crude oil prices continued to move higher in early trade.
Brent crude gained 1.50% to $95.48 per barrel, while West Texas Intermediate (WTI) crude rose 1.27% to $87.93 per barrel.
Gold and silver remain in focus
Precious metals also continued to attract attention.
In the international market, spot gold traded around $4,130 per ounce. On the Multi Commodity Exchange (MCX), gold futures for the August 5 contract were trading around Rs 1,45,693 per 10 grams.
Gold rates in India stood at Rs 1,46,520 per 10 grams (24 karat), Rs 1,34,310 per 10 grams (22 karat) and Rs 1,09,890 per 10 grams (18 karat).
Meanwhile, MCX silver futures for the September contract were trading near Rs 2,27,180 per kg, while silver rates in India stood at Rs 2,401 per 10 grams and Rs 2,40,100 per kilogram.
FIIs remain sellers
Foreign institutional investors (FIIs) remained net sellers in the previous trading session.
According to provisional exchange data, FIIs/Foreign Portfolio Investors (FPIs) sold Indian equities worth Rs 819.20 crore on July 22. Domestic institutional investors (DIIs) also remained net sellers, offloading shares worth Rs 418.26 crore.
US Dollar
In the currency market, the US Dollar Index (DXY) was trading at 101.11.
Rupee weakens
The Indian rupee weakened against the US dollar in the previous session, with the USD/INR pair settling at 96.57, up 0.33%.
Top sectors from the previous session
Among sectoral indices, Cables emerged as the top-performing sector with a gain of 1.61% in the previous session. It was followed by Food Processing, which advanced 1.07%, while the Tea and Coffee sector added 0.94%.
