Sensex Slides 700 Points As Geopolitical Tensions And Oil Prices Weigh

Indian equity markets faced a sharp downturn on Monday, July 20, 2026, as global geopolitical instability and rising crude oil prices dampened investor sentiment. The BSE Sensex declined by approximately 700 points to settle near 77,577, while the NSE Nifty 50 slipped by 146.30 points to close at approximately 24,188.00. The session was characterized by broad-based selling, particularly in the financial sector.

Banking stocks bore the brunt of the selling pressure, with the Nifty Financial Services index falling by 1.65%. Major private lenders like Axis Bank and HDFC Bank saw significant declines of 6% and 5% respectively. In contrast, the market found some support from the Nifty Metal, Pharma, and IT indices, while public sector banks like Punjab National Bank and Bank of Baroda bucked the trend to record gains.

Foreign Portfolio Investors continued their exit, remaining net sellers for the fourth consecutive session with outflows of approximately ₹376.41 crore as of July 17. Conversely, Domestic Institutional Investors provided a buffer by purchasing equities worth ₹1,017.89 crore. Meanwhile, the Indian rupee faced pressure, trading near 96.46 against the US dollar, as Brent crude prices surged past the $90 per barrel threshold due to Middle East tensions.