DATE20 Jul

NIFTY 24,238 ▼ 0.39%BANK NIFTY 57,945 ▼ 0.98%NIFTY IT 29,162 ▼ 0.22%NIFTY PHARMA 26,003 ▲ 1.40%MAPMYINDIA 1,097 ▼ 6.48%PNB 112 ▲ 5.66%AXISBANK 1,256 ▼ 5.46%ECLERX 1,878 ▼ 5.17%HDFCBANK 778 ▼ 5.12%TORNTPHARM 5,005 ▲ 5.09%JSWENERGY 568 ▲ 4.90%SCHNEIDER 1,341 ▲ 4.89%GALLANTT 620 ▼ 4.84%GABRIEL 1,398 ▲ 4.59%NIFTY 24,238 ▼ 0.39%BANK NIFTY 57,945 ▼ 0.98%NIFTY IT 29,162 ▼ 0.22%NIFTY PHARMA 26,003 ▲ 1.40%MAPMYINDIA 1,097 ▼ 6.48%PNB 112 ▲ 5.66%AXISBANK 1,256 ▼ 5.46%ECLERX 1,878 ▼ 5.17%HDFCBANK 778 ▼ 5.12%TORNTPHARM 5,005 ▲ 5.09%JSWENERGY 568 ▲ 4.90%SCHNEIDER 1,341 ▲ 4.89%GALLANTT 620 ▼ 4.84%GABRIEL 1,398 ▲ 4.59%

Morning brief · Tuesday, 21 July 2026

India's quiet five-fold march into the heart of Apple's global supply chain

Market pulse

Indian shares edged lower as a nearly one percent drop in the Bank Nifty, driven by a sharp selloff in Axis Bank, weighed on the broader market. While the benchmark Nifty 50 closed below 24,250, the pharmaceutical sector bucked the trend with a strong gain, seeing stocks like Torrent Pharma rise over five percent.

From the investor's mind

One post worth your time, explained

@soicfinance · on X

According to Ishmohit Arora of SOIC, the number of Indian module and component suppliers to the Apple ecosystem has significantly increased from just 8 in 2018 to nearly 40 currently. This expansion of the supplier base indicates a growing involvement of Indian manufacturers in Apple's supply chain. Arora highlights this shift as a key development, pointing to data from Avendus Spark.

Yesterday's big moves