Benchmark indices Sensex and Nifty tumbled in early trade on Monday (July 20, 2026), dragged by heavy selling in blue-chip HDFC Bank and a sharp spike in crude oil prices due to the ongoing tensions between the U.S. and Iran.

The 30-share BSE Sensex tanked 523.22 points to 77,628.23 in early trade. The 50-share NSE Nifty declined 134.10 points to 24,198.25.

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From the Sensex pack, Axis Bank and HDFC Bank declined nearly 5% after announcing their quarterly earnings over the weekend.

“HDFC Bank has disappointed, particularly on the NIM front,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Kotak Mahindra Bank, InterGlobe Aviation, Maruti and Bajaj Finance were also among the laggards from the blue-chip pack.

Bharti Airtel, Tech Mahindra, NTPC, Reliance Industries and ICICI Bank were among the gainers.

Reliance Industries Ltd., India’s most valuable company, traded nearly 1% higher after it reported record quarterly core profit and EBITDA for the June quarter, powered by strong performances across its oil-to-chemicals and telecom businesses.

Brent crude, the global oil benchmark, quoted 2.41% higher at $90.22 per barrel.

“There are near-term headwinds and tailwinds for the market now. The strongest headwind is Brent crude spiking above $90 on escalating tensions between the U.S. and Iran. If this trend continues, India’s vulnerability to energy shock will resurface with negative implications for the rupee and FPI flows,” Mr. Vijayakumar said.

On the positive side, the weakening of the AI trade continues in markets like the U.S., South Korea and Taiwan, he said, adding that this can make markets like India attractive to the FPIs.

In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index quoted higher, while South Korea’s KOSPI tanked 4.35%.

U.S. markets ended lower on Friday (July 17, 2026).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹376.41 crore on Friday (July 17, 2026), according to exchange data.

On Friday (July 17, 2026), the Sensex bounced back 964.58 points, or 1.25%, to settle at 78,151.45. The Nifty climbed 261.55 points, or 1.09%, to end at 24,334.30.

Benchmark equity indices Sensex and Nifty surged in early trade on Monday (May 25, 2026) supported by a sharp correction in crude oil prices and a rally in global markets amid improving sentiment surrounding the U.S.-Iran negotiations.

The 30-share BSE Sensex jumped 908.98 points to 76,317.85 in early trade. The 50-share NSE Nifty surged 262.65 points to 23,977.70.

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From the 30-Sensex firms, Mahindra & Mahindra, HDFC Bank, Bajaj Finance, Bajaj Finserv, Larsen & Toubro, and InterGlobe Aviation were among the biggest winners.

Tata Consultancy Services and Sun Pharma were the laggards.

Brent crude, the global oil benchmark, tanked 5.58% to trade at $97.76 per barrel.

“We are starting the week on a positive note. Crude has dipped $5 to below $100 on expectations that U.S. and Iran are close to a deal. The market will wait and watch for clarity and certainty since many similar expectations have been belied since the start of the war. If this expected deal holds and crude drifts down, that can turn out to be turning point for the market,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

In Asian markets, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index were trading higher. Markets were closed in South Korea and Hong Kong due to holidays.

U.S. markets ended in positive territory on Friday.

Crude oil prices have corrected sharply, marking a significant pullback from recent highs above the USD 100-105 zone, Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.

“The decline in oil prices is being viewed as a meaningful positive for India’s macroeconomic outlook, as softer energy prices help ease concerns around inflation, import costs and corporate profitability,” he added.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,440.47 crore on Friday, according to exchange data.

On Friday, the Sensex climbed 231.99 points, or 0.31%, to settle at 75,415.35. The Nifty edged higher by 64.60 points, or 0.27%, to end at 23,719.30.