Charterly Digest
23 July 2026
🎯 Sentiment: Bearish
Indian markets extended losses due to escalating US-Iran tensions driving crude oil prices higher, coupled with persistent FII and DII selling, leading to broad-based declines across sectors.
📊 Market Scorecard
🚀 Top Gainers | 📉 Top Losers |
🗞️ Market Cues
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Indian Indices Extend Losing Streak as US-Iran Tensions Push Brent Crude Towards $98
Indian benchmark indices, Nifty 50 and Sensex, closed lower for the fourth consecutive session on July 23, 2026, as escalating geopolitical tensions between the US and Iran drove Brent crude oil prices higher, dampening global risk appetite. -
Brent Crude Tops $100 Per Barrel Amid Middle East Conflict Escalation
Oil prices surged past $100 a barrel on July 23, 2026, reaching their highest level in over six weeks, following renewed US strikes on Iran and Houthi rebels targeting oil tankers in the Red Sea, intensifying fears of global supply disruptions. -
FIIs and DIIs Turn Net Sellers on July 22, Exiting Indian Equities
Both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) were net sellers in Indian equities on July 22, 2026, with FIIs offloading ₹819.20 crore and DIIs selling ₹418.26 crore, reflecting cautious sentiment.
🏢 Corporate Action
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Hindustan Petroleum Corporation (HPCL)
HPCL shares dropped by 4% after the company reported a consolidated net loss of ₹12,264.67 crore in Q1 FY27, compared to a net profit in the year-ago period. -
Gandhar Oil Refinery (India)
Gandhar Oil Refinery shares surged by 20% to hit an upper circuit after its standalone net profit rose to ₹179 crore in the June quarter from ₹44.13 crore in the preceding quarter. -
Tanla Platforms
Tanla Platforms shares rose by 17% after the company reported a 20.1% year-on-year increase in its profit after tax, reaching ₹142.16 crore.
🏦 Institutional Flow
💡 Structural Watchlist
Long-term
Upside: +18-22%
Basis of Pick: Vinati Organics is a global leader in niche specialty chemicals like IBB and ATBS, benefiting from the 'China+1' manufacturing strategy and strong export demand. Its consistent innovation, high EBITDA margins, and global clientele provide a defensible business model for sustained growth.
Despite potential short-term corrections due to high valuations, its proprietary chemistry and market leadership position it as a long-term wealth creator in a structurally growing sector.
Mid-term
Upside: +20-25%
Basis of Pick: Zen Technologies operates in the defense simulation and training systems sector, a critical area benefiting from India's increasing defense budget and strong 'Make in India' push for indigenization. As a mid-cap player, it has significant room for growth by securing more domestic and international contracts.
The company's specialized offerings and focus on advanced defense technology position it well to capitalize on the government's emphasis on modernizing the armed forces and reducing import dependence.
*Disclaimer: The structural watchlist suggestions are based on market data and quantitative/technical setups. These are for educational purposes and should not be considered as professional investment advice. Consult a SEBI registered advisor before making financial decisions.
🪙 Alternative Assets
🔮 Ahead of Tomorrow
Expect continued market caution due to persistent geopolitical tensions in the Middle East and the sustained rise in crude oil prices. Stock-specific movements, driven by corporate earnings and global cues, are likely to dominate trading.