Indian equity markets faced broad selling pressure on Monday, July 20, as escalating geopolitical tensions in the Middle East dampened investor sentiment.
The risk-off environment was compounded by rising crude oil prices, which heightened concerns about inflationary pressures and potential tightening in monetary policy stances globally.
5% following positive reception to their first-quarter fiscal 2027 earnings reports.
Axis Bank and HDFC Bank emerged among the top decliners, marking a sharp reversal from earlier in the week.
Both lenders had previously seen shares climb as much as 2.5% following positive reception to their first-quarter fiscal 2027 earnings reports.
The current sell-off suggests that macro headwinds are currently overshadowing company-specific fundamentals, with investors rotating out of large-cap financials amid broader uncertainty.
Other notable losers included Ceat, India Cements, OLA, and HFCL, indicating that the pressure was not confined to the banking sector but spread across industrials and technology names.