Indian equity markets are indicating a weaker start to trading today amid negative global cues and pressure from key technical levels, with market participants closely watching the Nifty's 24,000 level.
At around 7:30 a.m., Gift Nifty was trading 64.50 points, or 0.27%, lower at 23,977.50, indicating a subdued opening for domestic equities. According to market experts, if the Nifty sustains above the 24,000 level, it could advance towards the 24,250–24,300 range. However, failure to hold this level could see the index decline to 23,800.
Asian markets also remained under pressure as renewed concerns over rising investment and spending on artificial intelligence (AI) weighed on semiconductor and chip stocks, affecting regional market sentiment. Meanwhile, crude oil prices declined to below $82 per barrel.
Several major companies are scheduled to announce their quarterly financial results today, including Larsen & Toubro, Hindustan Unilever, Ambuja Cements, Tata Capital, Cholamandalam Investment & Finance, City Union Bank, DCM Shriram, Equitas Small Finance Bank, Pfizer, Phoenix Mills, Pine Labs, Radico Khaitan, Supreme Industries, Suzlon Energy, Varun Beverages and VST Industries.
The quarterly results are expected to drive stock-specific movements. Investors will closely monitor Suzlon Energy's earnings, including the company's position in the renewable energy sector and its future order book.
Bharat Electronics Limited (BEL) reported an 8.7% year-on-year increase in net profit to ₹1,054.3 crore from ₹969.9 crore in the corresponding period last year. Revenue rose 25% to ₹5,547 crore.
Tata Power reported an 11% increase in net profit to ₹1,401 crore from ₹1,262.3 crore a year earlier. Revenue increased 5.6% to ₹19,051.3 crore.
Coal India posted a 0.6% year-on-year increase in net profit to ₹8,852.1 crore, while revenue rose 7.8% to ₹46,254.8 crore.
Tata Chemicals reported a net loss of ₹17 crore for the quarter compared with a net profit of ₹252 crore in the corresponding period last year, while revenue increased 14.4% to ₹4,255 crore.
Godfrey Phillips India reported a 44.3% decline in net profit to ₹198.4 crore. Revenue fell 18.9% to ₹1,205.5 crore.
Gravita India reported a 14.1% increase in net profit to ₹106.4 crore, while revenue rose 41.8% to ₹1,475.1 crore.
In corporate developments, Elevation Capital may sell a stake worth approximately ₹1,200 crore in Meesho through a block deal. As of June 2026, Elevation Capital held a 12.04% stake in the company.
InterGlobe Aviation announced management changes, with Gaurav Negi stepping down as Chief Financial Officer to become Adviser to the Managing Director. Kiran Thadimari will assume the role of Chief Financial Officer from July 28.
