Nifty 50 Index Falls Below 24,200 as Banking Stocks Drag: HDFC Bank and Axis Bank Among Top Losers

The Nifty 50 traded lower on July 20, 2026, as selling pressure in banking stocks weighed on the benchmark index. As of 12:07 PM, the index was at 24,189.50, down 144.80 points (0.60%) from its previous close of 24,334.30.

The benchmark opened at 24,190.05 and touched an intraday high of 24,262.35 and a low of 24,149.90 during the trading session.

Nifty 50 Today

The Nifty 50 declined 0.60% to 24,189.50 on July 20, 2026. The benchmark index opened at 24,190.05, close to its previous closing level of 24,334.30, and traded within a range of 24,149.90 to 24,262.35 during the session. Over the past 52 weeks, the Nifty 50 has touched a high of 26,373.20 and a low of 22,182.55.

Top Gainers and Losers

Buying interest was seen in select sectors despite the broader market weakness. Trent emerged as the top gainer, rising 2.53% to ₹2,914.30. It was followed by Cipla, which gained 2.01% to ₹1,447.20, while JSW Steel advanced 1.74% to ₹1,258.80. NTPC added 1.30% to ₹346.30, and Bharti Airtel climbed 1.29% to ₹1,933.40.

Banking stocks were the biggest contributors to the decline in the benchmark index. Axis Bank fell 5.30% to ₹1,258.10, while HDFC Bank declined 4.83% to ₹780.00. Kotak Mahindra Bank slipped 2.40%, Jio Financial Services lost 1.84%, and Maruti Suzuki was down 1.83% during the session.

Nifty 50 Performance

The benchmark has delivered mixed returns across different time periods. It has declined 0.09% over the past week and 7.48% on a year-to-date basis. Over the last month, however, the index has gained 0.73%. It is down 0.72% over the past three months and 4.13% over six months. On a one-year basis, the index has fallen 3.12%, while it has generated 21.07% returns over the past three years and 54.74% over the last five years.

Sector Representation

The Nifty 50 provides exposure to key sectors of the Indian economy, making it a widely tracked benchmark. Financial Services account for the highest weight in the index at 37.00%, followed by Oil, Gas & Consumable Fuels (9.79%), Information Technology (7.41%), Automobile & Auto Components (6.74%), and FMCG (5.81%). Other sectors represented include Telecommunication (5.15%), Healthcare (4.90%), Metals & Mining (4.54%), Construction (4.44%), and several others.

Top Constituents by Weight

Among the index constituents, HDFC Bank has the highest weight at 11.18%, followed by ICICI Bank (9.01%) and Reliance Industries (8.00%). Other major constituents include Bharti Airtel (5.15%), Larsen & Toubro (4.44%), State Bank of India (3.88%), Axis Bank (3.54%), Infosys (3.21%), Kotak Mahindra Bank (2.64%), and ITC (2.53%).

Read More: Why Is the Stock Market Falling Today on July 20, 2026? Sensex Drops Nearly 700 Points!

Conclusion

The Nifty 50 traded lower on July 20, 2026, as weakness in banking stocks, particularly HDFC Bank and Axis Bank, weighed on the benchmark. Despite the decline, the market breadth remained positive, indicating strength in several sectors. Investors are likely to keep a close watch on ongoing corporate earnings, domestic economic data, and global market developments for further market direction.

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