Weekly Market Impact — for the week ending 24th July 2026

Weekly Capsule (Jul 20 – Jul 24) and Impact Analysis

Core sector growth for June 2026 comes in sharply higher at 5.00%

• This is a new series with 2022-23 as the base year and the inclusion of Iron Ore as the ninth basket in core sector
• Oil extraction, refining, and natural gas were under pressure, but that was made up by power, steel, and iron ore output

Houthi attacks on Saudi tankers raises the risk of another sea route lockdown

• While Hormuz is virtually locked down, the recent Houthi attacks may also block the Bab-al-Mandeb on the Red Sea
• The impact was immediately felt on crude oil prices, with Brent crossing above $100/bbl, rising over 40% in July 2026

Infosys to see a new CEO appointed at the helm effective from April 2027

• A long time Infosys veteran, Ashish Kumar Dash, will replace Salil Parekh as the CEO of Infosys, after nearly 8 years
• Dash has been heading the energy vertical at Infosys, and his major priority will be to focus on generating ROI on AI outlays

Government allows 100% FDI in inventory model ecommerce outfits

• However, this would be only limited to an inventory model for ecommerce for exports, and not for domestic markets
• The removal of restrictions on FDI in the inventory model is likely to give a big boost to global investments in ecommerce

India to expand its strategic oil reserves as part of the phase-2 expansion plan

• India will add another 6.50 million tonnes of oil storage, over and above 5.33 million tonnes already operational in India
• The new capacity will be added in the states of Karnataka and Odisha; and will give India over one-month of oil inventory

FCNR(B) deposits pick up traction to over $20.7 billion in a recent surge

• Out of the $20.7 billion; $17.4 billion came from FCNR(B), $2.0 billion from OFCBs, and balance $1.3 billion from ECBs
• With many of the IFSC related procedural issues ironed out, the promise of inflows up to $50 billion is still holding good

TVS group plans to hive off its financial services business into a separate entity

• The financial services business will include TVS Credit Services, Home Credit India, and PGIM Asset Management Company
• The group expects better capital allocation and also better value discovery by hiving of the financial services franchise

Bank of Baroda sees 72% fall in net profit due to NMC settlement provision

• The ₹5,700 crore payout to administrators of the UAE-based NMC Healthcare, reduced net profits to ₹1,278 crore in Q1
• Outside of this settlement provision; BOB saw 9.5% growth in net interest income (NII) to ₹12,524 crore in Q1FY27

USDINR crosses ₹97/$ for the first time, marking new low for the Indian Rupee

• The pressure on the Indian rupee came from a mix of factors like geopolitical risk, Trump tariff threat, and rising oil prices
• However, selective dollar selling by the RBI around the ₹97/$ levels ensured that rupee closed at ₹96.43/$ for the week

FPIs infuse $317 million into Indian equities for the week ending 24-July

• Global investors remained cautious on India due to the rising geopolitical risks and pressure from rising crude oil prices
• For the month of July, so far, FPIs infused $1.57 billion into equities, and an additional $2.80 billion into Indian debt paper

Spot gold takes support at $4,000/oz, while silver takes support at $55/oz

• Rising geopolitical risk has revived interest in gold and silver as safe havens, although hawkishness remains a key risk factor
• Both gold and silver are substantially lower; with gold falling 27.1% and silver falling nearly 51.6% from January peak levels

GCCs get big as foreign entities leased 105 million SFT for GCCs since 2022

• The number of such GCCs in India are expected to double from 2,100 in the year 2025 to 4,000 GCCs by the year 2030
• Fortune 1000 companies are increasingly looking to India also for higher-end tasks, and that is driving realty demand in India

Major Indian banks have earned close to ₹20,000 crore from insurance sales

• For most private banks, this has emerged as the low-hanging fruit as they leverage the bank data base to sell insurance
• However, this has led to reduced focus on core banking products like loans, deposits etc; with CD ratio fairly skewed

Singapore Airlines, which holds 25.1% in Air India, willing to infuse more funds

• This decision to infuse funds become very relevant after Air India reported net losses of ₹22,000 crore in FY26
• While aviation companies have been globally hit by the turmoil in West Asia, SIA is looking at it as a strategic outlay

Tatas and Shapoorji Pallonji group may move towards an amicable solution

• The SP group is reportedly in touch with the Tata group through the sale of the former’s 18.4% stake in Tata Sons
• For SP group, this is a desperate bid to monetize its core assets and use the funds to repay its long-term borrowings

Insolvency process in India may finally move to a centralized digital ecosystem

• The platform will be the first port of call to connect key stakeholders like MCA, regulators, IPs, and promoters
• The integrated digital platform will replace the current dispersed framework, which limits the speed of execution

Nestle India beats street estimates, as it reported a 48% spike in profits yoy

• Standalone profits were up 48% yoy at ₹975 crore; which is well above the Bloomberg street estimates for the quarter
• Bulk of the demand for Nestle India products emanates from packaged foods and beverages; including Maggi noodles

Three law firms in the US are probing HDFC Bank over securities law violation

• This investigation is based on the allegations about HDFC Bank paying ₹45 crore as disguised payments to MSRDC
• Since the ADRs of HDFC Bank are traded in the US markets, this could trigger big penalties and possible investor claims

Adani group denies launching its own airlines, amid government relaxation

• A recent government announcement has allowed the airport operators like GMR and Adani to float their airline ventures
• Rahul Bhatia of Indigo has underlined that such a move had no global precedent and could result in conflict of interest

Indian oil refiners are scouting for new and steady sources of crude oil supply

• Indian refiners are exploring new exports from countries like Angola and Venezuela to compensate for the Gulf oil losses
• India’s choices are limited with Bab-al-Mandeb also closed and Russian crude oil discounts almost vanishing for buyers

With renewed tensions in the Gulf, the stagflation fears are back globally

• Stagflation is a challenging macro condition of rapidly rising inflation and stagnating GDP, pushing real growth even lower
• The supply chain constraints caused by the unrest in West Asia are expected to spike inflation in oil and related products