CHENNAI: Indian equity markets opened on a flat to slightly negative note on Monday, July 21, with benchmark indices showing limited movement amid mixed earnings and global trade concerns.
The Nifty 50 index hovered just below the 25,000 mark, trading around 24,950–24,962 in early deals, reflecting a marginal dip of 0.02% to 0.07%. Meanwhile, the BSE Sensex opened near 81,700–81,800, moving in a narrow range with a change of approximately +0.03% to –0.05%.
Positive momentum was seen in select large-cap banking stocks. HDFC Bank rose over 1% after reporting a 12.2% year-on-year rise in net profit for the June quarter, along with a special dividend and bonus share announcement. ICICI Bank also gained more than 1.5% after posting a strong 15.5% growth in net profit.
On the other hand, Reliance Industries dragged the indices lower with a nearly 2% decline, as investors reacted cautiously to its segment-wise performance despite an overall strong quarterly profit.
Mid- and small-cap indices underperformed the benchmarks, declining by about 0.3% to 0.4%, reflecting some weakness in the broader market.
Investor sentiment remains cautious amid ongoing US–India trade talks and global macro uncertainties. Markets are also expected to track key quarterly earnings announcements from companies including Ultratech Cement, Havells, IDBI Bank, and Oberoi Realty later today.
From a technical perspective, Nifty faces immediate resistance at 25,100–25,250 levels, with support around 24,900. A sustained breach below this support could trigger a move toward 24,700, while a breakout above resistance could open the path toward 25,400–25,600.
Overall, markets opened steady but with a slightly negative bias, weighed by global cues and selective profit-booking in heavyweight stocks, while banking majors provided some early support.