Charterly Digest
23 July 2026
🎯 Sentiment: Bearish
Indian benchmark indices extended their losing streak for the fourth consecutive session due to escalating US-Iran tensions, surging crude oil prices, and persistent FII selling.
📊 Market Scorecard
🗞️ Market Cues
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Indian Markets Extend Losing Streak to Fourth Day on Surging Crude Oil Prices and Geopolitical Tensions
Benchmark indices Sensex and Nifty closed lower for the fourth consecutive session on Thursday, July 23, 2026, as escalating US-Iran tensions pushed Brent crude towards $98 a barrel, weighing heavily on investor sentiment. -
FIIs and DIIs Turn Net Sellers on July 22, Adding to Market Caution
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) both turned net sellers in Indian equities on July 22, 2026, offloading ₹819.20 crore and ₹418.26 crore respectively, amidst cautious global sentiment. -
Auto Sector Outperforms Amidst Broader Market Weakness, Boosted by Strong Q1 Earnings Optimism
While most sectoral indices traded lower, the Nifty Auto index stood out as the lone gainer, buoyed by strong Q1 earnings optimism, even as banking, financial, and IT stocks faced selling pressure.
🏢 Corporate Action
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Hindustan Petroleum Corporation (HPCL)
Shares dropped 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)
Shares rose 20% to hit an upper circuit after the manufacturer of specialty oils, lubricants, and petroleum derivatives reported a significant increase in standalone net profit to ₹179 crore in the June quarter. -
Tanla Platforms
Shares rose 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: +25-30%
Basis of Pick: Syrma SGS Technology is a diversified Electronics Manufacturing Services (EMS) player benefiting significantly from India's 'Make in India' initiative and Production Linked Incentive (PLI) schemes. The company shows strong revenue growth (27% YoY in FY26) and increased FII holdings, indicating confidence in its structural growth story in electronics manufacturing.
With global supply chain diversification (China Plus One strategy) and robust domestic demand, Syrma SGS is well-positioned to capture a larger share of the rapidly expanding Indian electronics manufacturing ecosystem, offering substantial long-term upside.
Mid-term
UPSIDE: +18-22%
Basis of Pick: KPI Green Energy is a renewable energy developer actively involved in solar and hybrid power projects. As India aggressively pushes towards green energy and the nascent green hydrogen sector, companies like KPI Green Energy, which provide the foundational renewable energy infrastructure, are set to benefit.
The company's focus on developing and operating renewable energy projects aligns with India's ambitious clean energy targets, making it a strong mid-term play as the broader green energy transition, including green hydrogen, gains momentum and attracts further investment.
*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
Investors will continue to monitor geopolitical developments in the Middle East and their impact on crude oil prices. FII/DII flows will also be a key determinant for market direction, alongside any fresh corporate announcements or global economic data releases.