At 11:28 ST, the barometer index, the S&P BSE Sensex, tanked 721.25 points or 0.94% to 75,670.14. The Nifty 50 index fell 207.10 points or 0.87% to 23,662.50.

In the broader market, the BSE 150 MidCap Index fell 0.79% and the BSE 250 SmallCap Index shed 0.96%.

The market breadth was weak. On the BSE, 1,162 shares rose and 2,645 shares fell. A total of 228 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.32% to 14.46.

Economy:

India's private sector activity expanded at its slowest pace in over four years in July as demand softened and inflationary pressures intensified, according to the HSBC Flash India PMI data compiled by S&P Global. The HSBC Flash India Composite PMI Output Index fell to 54.3 in July from 57.1 in June, marking the weakest expansion in private sector activity since March 2022. The moderation was primarily driven by the services sector, where the HSBC Flash India Services PMI Business Activity Index dropped sharply to 53.1 from 57.4 in June'its lowest level since February 2022. Meanwhile, the HSBC Flash India Manufacturing PMI Output Index improved to 57.0 from 56.3, though the headline Manufacturing PMI eased slightly to 53.9 from 54.2 in June.

IPO Update:

The initial public offer (IPO) of Xtranet Technologies received bids for 1,31,73,820 shares as against 91,93,800 shares on offer, according to stock exchange data at 11:15 IST on Friday (24 July 2025). The issue was subscribed 1.43 times.

The initial public offer (IPO) of Lohia Corp received bids for 62,54,675 shares as against 1,43,52,274 shares on offer, according to stock exchange data at 11:15 IST on Friday (24 July 2025). The issue was subscribed 0.44 times.

The initial public offer (IPO) of INDO-MIM received bids for 8,94,08,640 shares as against 5,50,93,201 shares on offer, according to stock exchange data at 11:15 IST on Friday (24 July 2025). The issue was subscribed 1.62 times.

Buzzing Index:

The Nifty Auto index fell 1.21% to 27,350.75. The index added 1.19% in the previous three consecutive trading sessions.

Hero MotoCorp (down 3.16%), Mahindra & Mahindra (down 2.78%), Tube Investments of India (down 2.26%), Uno Minda (down 2.21%) and TVS Motor Company (down 2.1%), Bharat Forge (down 1.89%), Ashok Leyland (down 1.76%), Eicher Motors (down 1.59%), Bosch (down 1.43%) and Tata Motors Passenger Vehicles (down 1.25%) declined.

On the other hand, Sona BLW Precision Forgings (up 0.24%), Bajaj Auto (up 0.23%) added.

Stocks in Spotlight:

Thyrocare Technologies jumped 2.64% after the company's consolidated net profit jumped 34.06% to Rs 52.19 crore in Q1 FY27, compared with Rs 38.93 crore in Q1 FY26. Revenue from operations rose 24.34% year-on-year (YoY) to Rs 240.02 crore, driven by sustained momentum in the pathology segment.

Larsen & Toubro (L&T) fell 1.12%. The company announced that its Heavy Engineering business arm, has secured a series of international orders across Asia, Africa, North America, South America and Europe.

Global Markets:

Asian shares fell on Friday as oil prices stormed back above $100 a barrel amid an intensifying conflict in the Gulf, rattling bond markets and reviving fears of a fresh inflation shock.

Brent crude held at $100.85 a barrel, after surging 7% overnight to a two-month high of $102 as attacks by Iran-aligned Houthis on Saudi tankers in the Red Sea choked off a second crucial Middle East artery for global oil supplies, alongside Iran's near-closure of the Strait of Hormuz.

Two weeks since the effective collapse of an interim truce meant to end the war, the U.S. military launched air strikes on Iran into Friday morning while Tehran fired at neighbouring Arab countries that host U.S. bases. With the conflict showing little signs of abating, Brent has reportedly soared nearly 40% this month alone.

News that the U.S. administration will impose higher tariffs on goods from 60 trading partners also did not help the inflation picture, with 30-year Treasury yields nearing their highest levels since 2007 and benchmark European borrowing costs climbing to highs last seen in 2011.

Overnight on Wall Street, U.S. equities fell on Thursday, as oil prices surged amid escalating conflict in the Middle East, while investors weighed quarterly results from two of the largest companies in the world, with Alphabet's fueling concerns about increased artificial intelligence spending.

The Dow Jones Industrial Average lost 506.93 points, or 0.97%, to end at 51,711.65. The S&P 500 dropped 1.21% to 7,408.30, while the Nasdaq Composite declined 2.15% to close at 25,137.69.

The tech-heavy index was bogged down by a 7% drop in Alphabet and a 14% loss in Tesla following their earnings reports.

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