Top 10@10: Markets slide as oil jumps, stormy start to Monsoon session, Wangchuk extends fast - EUROPE SAYS
Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pmDalal Street ended on a cautious note as. . .
Top 10@10 — CNBC-TV18’s daily newsletter featuring the top 10 stories on markets, corporate updates, economic insights, and financial highlights — delivered at 10 pmDalal Street ended on a cautious note as rising geopolitical tensions in West Asia weighed on investor sentiment, pushing Brent crude above $90 a barrel and pressuring the rupee. Benchmark indices closed lower despite recovering from the day’s lows after reports of a possible Iran “mediation” comment. Foreign institutional investors remained net sellers, offloading ₹1,121. 04 crore worth of equities, while domestic institutional investors provided support with net purchases of ₹1,312. 03 crore, helping limit the decline. Explained: Why Sensex and Nifty closed lower even as Midcaps outperformedThe equity benchmark indices BSE Sensex and NSE Nifty closed lower on Monday (July 20), although they pared losses from the day’s lows after a “mediation” comment from Iran. The BSE Sensex fell 443 points to 77,708, while the Nifty50 declined 96 points to 24,239, holding above the 24,200 mark. Brent crude prices cross $90 a barrel as West Asia conflict escalates againIran has also announced that the Islamabad MoU signed between the two countries now stands suspended and blamed the US for the same. US President Donald Trump said he “couldn’t care less”, in response to Iran’s suspension of the MoU. DIIs continue buying spree, FIIs stay on selling side as markets end lowerDomestic institutional investors (DIIs) extended their buying streak to nine consecutive sessions on Monday, investing ₹1,312 crore in equities, while foreign institutional investors (FIIs) remained net sellers for the sixth straight trading session. Investors will track a busy session on Tuesday, with Q1 earnings from Sobha, Canara HSBC Life and SML Mahindra, alongside stock-specific developments, including Emcure Pharma’s regulatory approval, remaining in focus. Traders will also watch whether the Nifty holds above the crucial 24,000 mark, with crude oil prices and developments in West Asia likely to guide sentiment. Separately, Coca-Cola’s reported move to appoint bankers for the IPO of its India bottler will remain on investors’ radar. Stocks to Watch for July 21: Emcure Pharma, Sobha, SML Mahindra and moreFrom Emcure Pharma’s CDSCO nod for a MASH treatment to Q1 earnings from Sobha, Canara HSBC Life and SML Mahindra, here are the stocks to watch ahead of Tuesday’s trading session. Nifty Outlook for July 21: Trend remains positive till 24,000 holds; oil prices remain keyAfter Friday’s sharp rally, the Nifty 50 snapped its winning streak on Monday, falling 95 points to close at 24,238 as weakness in private banking stocks, rising crude oil prices and geopolitical tensions in West Asia weighed on sentiment. Coca-Cola picks four bankers for India bottler unit IPO: ExclusiveCoca-Cola has picked four banks for the initial public offering (IPO) of Hindustan Coca-Cola Holdings (HCCH), the parent company of its India bottler, Hindustan Coca-Cola Beverages, people in the know told CNBC-TV18. Beyond the markets, here are the developments that shaped the day’s business, policy and political landscape. Parliament’s Monsoon Session opened with Prime Minister Narendra Modi calling for constructive debate and respect for every voice, though disruptions marked the first day. Outside Parliament, activist Sonam Wangchuk extended his hunger strike into its 23rd day, insisting he would continue fasting until protesting students are allowed to present their demands to lawmakers. In business, investors evaluated the June-quarter performance of major private banks, with ICICI Bank standing out on margins. Separately, the government said there is no proposal to scrap LTCG tax on equities, noting collections crossed ₹1 lakh crore in AY2025–26. Parliament Monsoon Session: Modi calls for logical debate, respect for all voices; Lok Sabha adjourns 6 timesPrime Minister Narendra Modi on Monday, July 20, urged MPs to participate wholeheartedly in the Monsoon Session of Parliament, saying every voice should be heard and every idea treated with respect. Sonam Wangchuk extends fast, cites Police action against ‘Sansad Chalo’ protestersSonam Wangchuk continues his hunger strike into day 23, demanding accountability for the education minister, allowing youth leaders to meet Parliamentarians, or meeting them himself at Safdarjung Hospital. Q1 Banking Report Card: Find out who stood out among HDFC, ICICI, Kotak and Axis this quarterFour top private lenders HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank reported their first quarter earnings over the weekend. The net interest margins (NIM) contracted across three out of the four lenders, with ICICI Bank being the lone one expanding its margins. Fresh slippages increased across banks, but the same was largely a seasonality factor. No proposal currently to scrap LTCG on equities: Govt tells ParliamentThe government has said there is no proposal currently under consideration to scrap Long Term Capital Gains (LTCG) tax on equity investments. That’s your Top 10@10 for today. We’ll be back on Tuesday with another roundup of the biggest stories shaping markets, business and the economy.