Market Wrap Podcast, July 26: Here's all that happened in the markets today

The domestic benchmark indices ended the volatile session in the red, snapping their two-day winning run, as a weak global market environment weighed on investors' nerves. Further traders also braced for possible turbulence from this week's Federal Reserve meeting, which is slated to kick off on Tuesday.

After gyrating between gains and losses ahead of key earnings, BSE Sensex declined 124 points or 0.23 per cent to 52,852. NSE Nifty settled at 15,824, 32 points or 0.20 per cent lower. RIL witnessed profit-taking post its Q1 numbers and was the biggest drag on Sensex, followed by HDFC twins and SBI.

On the loser board too, RIL, SBI were the top laggards, down over 1 per cent each. On the other hand, Baja Finserv and Ultratech Cement, Titan and Sun Pharma jumped up to 3 per cent.

Three Nifty companies - Tata Motors, Larsen & Toubro and Axis Bank are slated to post their Q1 numbers later today. And all three ended marginally lower on Monday.

Despite weakness in benchmarks, the broader markets showed resilience with the Nifty Smallcap index up 0.27 per cent while the Nifty Midcap eked 0.04 per cent loss.

The sectoral trend was mixed. The realty, financials and auto sectors took a beating while strong demand was witnessed in metals, pharma and IT names. The Nifty IT index scaled an all-time of 30,139 in trade helped by gains in Infosys, Mphasis and Coforge.

Further, on the stock-specific front, demand for Zomato shares remained strong following the debut day as the scrip rallied nearly 12 per cent on BSE to close at Rs 140.85 per share. The scrip hit a new high of Rs 143.75 in intra-day trade.

Meanwhile, the overhang of SC's verdict on AGR re-calculation lasted on Vodafone Idea on Monday too with the latest tariff hikes announced by the company failing to uplift the stock. Vodafone Idea has launched Business Plus postpaid plans for corporate users starting from Rs 299 per month that go upwards to Rs 499 per month. The scrip ended 0.84 per cent lower at Rs 8.29 on BSE.

Mahindra & Mahindra Financial Services tanked 5.25 per cent on BSE to Rs 146.15 on posting a surprise loss of Rs 1,543 crore in the June quarter as against a profit of Rs 432 crore posted in the same period a year ago.

Now, going into trade on Tuesday, the ongoing earnings season will remain in focus with companies like DRL, IndusInd Bank, IndiGo, Canara Bank and Dixon Technologies slated to post their Q1 numbers. Further Street would react to the June quarter show by Tata Motors, L&T and Axis Bank among others.

The IPO by Glenmark Life Sciences, meanwhile, will hit the Street on Tuesday. The IPO which is priced at Rs 695 -720 per share looks to raise Rs 1,514 crore. Most analysts have assigned Subscribe rating to it.

Lastly, a look at the global markets.

Stocks fell with US futures at the start of a busy week of earnings and policy updates, with China’s widening technology crackdown weighing on risk sentiment. Contracts on key US  gauges slipped following a record close for Wall Street on Friday. European equities fell from an all-time high as carmakers and banks led losses. Shares in China and Hong Kong tumbled.

The Stoxx Europe 600 was last down 0.40 per cent while futures on the Nasdaq 100 fell 0.2 per cent. The MSCI Asia Pacific Index fell 1 per cent.