Navia Monthly Wrap: July 2026 Insights
Nifty 50 Performance in July
Indian equities extended their recovery into a second straight monthly gain in July 2026, with the Nifty 50 climbing to 24,383.60 and the Sensex to 78,094.64, both up around 2%. The chart above tracks the index through the month; the snapshot below sets out how the headline benchmarks closed.
Index Snapshot
| Index | Start | End – Jul 31 | Change % |
|---|---|---|---|
| NIFTY 50 | 23,897.65 | 24,383.60 | 2.36% |
| Nifty Midcap 100 | 61,935.35 | 62,915.30 | 1.94% |
| Nifty Smallcap 100 | 18,901.25 | 19,339.65 | 2.68% |
| Nifty 100 | 24,953.20 | 25,486.35 | 2.49% |
| BSE Sensex | 76,545.21 | 78,094.64 | 2.11% |
| BSE 100 | 25,445.75 | 26,044.59 | 2.46% |
| BSE 150 Mid Cap | 16,702.10 | 17,018.58 | 2.13% |
| BSE 250 Small Cap | 7,049.00 | 7,059.06 | 0.40% |
July Market Roundup
July 2026 was a strong month for Indian equities, extending the recovery into a second straight monthly gain. The Nifty 50 ended the month at 24,383.60 and the Sensex at 78,094.64, both up around 2%, with the Sensex touching 78,664.92 during the month. The rally was powered by an emphatic comeback in IT stocks, the return of foreign investors after months of selling, and encouraging June-quarter (Q1 FY27) earnings, even as a sharp escalation in the US-Iran conflict drove crude oil roughly 20% higher and kept intraday swings elevated. Indian benchmarks outperformed most Asian peers as well as the S&P 500 and Nasdaq for the month.
Key Highlights
IT roars back: The Nifty IT index surged about 17%, its best monthly performance since July 2020 and the top sector of the month. A global selloff in AI and chip stocks pushed foreign money toward Indian software services firms, helped by the US Fed holding rates on July 29. HCL Technologies was the top Nifty gainer, rising about 26% after signing an AI deal valued at $1.14 billion with a Europe-headquartered Fortune Global 50 client.
FPIs return: Foreign portfolio investors turned net buyers of Indian equities for the first time since February, investing ₹15,412 crore in July, while domestic institutions added another ₹32,839 crore, and the rupee firmed up.
Earnings support: Better-than-anticipated June-quarter results, particularly from IT and select financial and consumer names, underpinned sentiment and encouraged buying on dips through the month.
Record GST: Gross GST collection for July came in at ₹2.11 lakh crore, up 15.4% year-on-year, the fastest growth in 14 months and the second month above the ₹2-lakh-crore mark this fiscal, driven by a 28.8% jump in import revenue. Net collections rose 15.8% to ₹1.81 lakh crore.
Crude spikes on US-Iran conflict: A fragile pause in the US-Iran conflict collapsed during the month, with strikes resuming and disruptions around the Strait of Hormuz. Brent crude gained roughly 20% in July, its biggest monthly rise since March, ending near $88 a barrel after topping $94 mid-month, a key watch-point for inflation and the import bill.
Outlook
New closing-price regime from August 3: SEBI’s Closing Auction Session goes live for stocks with F&O contracts. Continuous trading in these stocks will halt at 3:15 PM, and the official closing price will be discovered through a dedicated auction window instead of the last-30-minute VWAP, a structural change every trader should note.
RBI August policy: The next monetary policy review is due in early August, with SBI Research expecting the repo rate to stay unchanged as inflation and global risks are weighed against strong growth.
Crude, earnings and monsoon: The trajectory of the US-Iran conflict and crude oil remains the key macro swing factor for equities and the rupee, alongside the remainder of the Q1 FY27 results season and the progress of the monsoon.
Sectoral Movements
July’s sector map was sharply divided. Nifty IT led with a 17.13% surge, its best monthly showing since July 2020, followed by strong gains in Consumer Durables (10.19%), Media (9.48%), Auto (9.03%) and Realty (9.02%). Banking indices paused for breath after leading the June rally, with Nifty Bank, Private Bank and PSU Bank closing modestly lower, and gains across the broader market stayed relatively narrow.
| Sector Index | 01-Jul | 31-Jul | Return % |
|---|---|---|---|
| Nifty IT | 26,381.00 | 30,708.90 | 17.13% |
| Nifty Consumer Durables | 36,734.25 | 40,072.15 | 10.19% |
| Nifty Realty | 834.60 | 901.45 | 9.02% |
| Nifty PSU Bank | 8,525.20 | 8,367.20 | 1.47% |
| Nifty Bank | 57,573.35 | 57,264.85 | 0.46% |
| Nifty Financial Services | 26,553.75 | 26,594.05 | 0.24% |
| Nifty Private Bank | 27,949.15 | 27,522.65 | 1.41% |
| Nifty Auto | 26,585.15 | 28,744.15 | 9.03% |
| Nifty Media | 1,486.85 | 1,618.65 | 9.48% |
| Nifty Healthcare | 16,192.80 | 16,755.50 | 4.01% |
| Nifty FMCG | 48,981.90 | 49,121.20 | 0.93% |
| Nifty Oil & Gas | 11,058.45 | 11,247.70 | 1.99% |
| Nifty Pharma | 25,416.90 | 26,534.80 | 4.98% |
| Nifty Metal | 12,515.30 | 12,719.00 | 1.77% |
Company Performance
| Top Gainers (Month) | % | Top Losers (Month) | % |
|---|---|---|---|
| HCL Technologies | 25.67% | Dr. Reddy’s Labs | 15.40% |
| Bajaj Auto | 18.57% | Axis Bank | 8.63% |
| Tech Mahindra | 17.56% | Trent | 8.43% |
| TCS | 16.45% | Adani Ports – Special | 6.28% |
| Eternal | 14.30% | HDFC Bank | 6.24% |
Commodities Month’s Change
| Asset | LTP – Jul 31 | Change % |
|---|---|---|
| Gold (MCX/10g) | ₹1,42,295 | 1.02% |
| Silver (MCX/1kg) | ₹2,17,990 | 3.17% |
| Crude Oil (MCX/bbl) | ₹8,002 | 19.88% |
| Natural Gas (MCX) | ₹264 | 12.03% |
SME IPO Performance – July
SME July IPO: July’s SME primary market stayed busy with sharply divergent outcomes. Teja Engineering Industries roughly doubled on listing and IC Electricals jumped 76%, while issues like Seemax Resources and Riyaasat Lifestyle fell around 24% on debut, keeping investors selective. The table below shows a selection of the month’s debuts with listing-day gains and the current gain over issue price, as tracked by Chittorgarh.
| Company | Listing Gain | Since Issue |
|---|---|---|
| Teja Engineering Industries Ltd. | 99.50% | 138.34% |
| IC Electricals Co. Ltd. | 76.06% | 69.44% |
| Kratikal Tech Ltd. | 35.11% | 37.04% |
| Atharva Polyplast Ltd. | 20.75% | 33.90% |
| Seemax Resources Ltd. | 23.97% | 38.01% |
| Riyaasat Lifestyle Ltd. | 23.96% | 46.75% |
| Jivial Industries Ltd. | 17.50% | 43.44% |
Disclaimer: The IPO performances mentioned are historical examples and not investment recommendations.
August NFO Lineup
| Fund Name | Open | Close |
|---|---|---|
| Invesco India Pharma and Healthcare Fund – Direct (G) | 18 Aug | 18 Aug |
| Kotak Diversified Equity All Cap Omni FOF – Dir (G) | 05 Aug | 19 Aug |
| Kotak Nifty Bank Index Fund – Direct (G) | 03 Aug | 17 Aug |
| WhiteOak Capital Dividend Yield Fund – Dir (G) | 10 Aug | 24 Aug |
| Edelweiss Nifty REITs & Realty Index Fund – Dir (G) | 05 Aug | 19 Aug |
| Bandhan Contra Fund – Direct (G) | 10 Aug | 24 Aug |
| Franklin India Short Term Fund – Direct (G) | 05 Aug | 11 Aug |
| Quantum Flexi Cap Fund – Direct (G) | 21 Aug | 04 Sep |
| ITI Multi Asset Allocation Fund – Direct (G) | 17 Aug | 31 Aug |
Top Reads From July!
Dive into our July roundup of essential reads, spanning the market’s new closing-price mechanism, corporate actions, valuation ratios, settlement mechanics and the Q1 FY27 earnings picture.
- Closing Auction Session (CAS) Explained: How Stock Closing Prices Will Change from August 3, 2026
- Rights Issue Explained: Everything You Need to Know
- 7 Must-Know Stock Market Ratios
- Short Delivery Explained
- Q1 FY27 Nifty 50 Earnings
Interactive Zone!
Test your knowledge with our Markets Quiz! React to the options and see how your answer stacks up against others.
Ready to take a guess?
Do You Find This Interesting? We would love to hear from you.
DISCLAIMER: Investment in securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Full disclaimer: https://bit.ly/naviadisclaimer.
