03 August,2026 05:19 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
Domestic benchmark equity indices rallied on Monday, extending their gains for the fourth consecutive day amid a sharp decline in crude oil prices following US President Donald Trump's announcement to pause military attacks on Iran.
The 30-share BSE Sensex surged 544.39 points, or 0.70 per cent, to settle at 78,639.03. The 50-share NSE Nifty gained 390.70 points, or 1.60 per cent, to end at 24,774.30.
On Friday, the Sensex climbed 166.49 points, or 0.21 per cent, to settle at 78,094.64. The Nifty gained 66.45 points, or 0.27 per cent, to end at 24,383.60.
From the Sensex pack, InterGlobe Aviation, Tata Consultancy Services, Infosys, Eternal, ITC, and Axis Bank were among the major gainers. The stocks of InterGlobe Aviation, the parent company of airline IndiGo surged 4.22 per cent.
Sun Pharma, Bharti Airtel, Maruti, Tata Steel and Mahindra & Mahindra were among the laggards. Shares of Sun Pharma tanked nearly 2 per cent.
According to news agency PTI, Brent crude, the global oil benchmark, tumbled 4.62 per cent to USD 83.88 per barrel.
"Indian market started the week on a strong footing and is expected to maintain a positive bias, supported by encouraging Q1FY27 earnings, easing crude oil prices and improving global risk sentiment. Investor sentiment improved after US President Donald Trump indicated that negotiations with Iran were expected to resume, raising hopes of a diplomatic resolution following recent military tensions," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
In Asian markets, South Korea's KOSPI, Japan's Nikkei 225 index settled lower, while Hong Kong's Hang Seng index ended higher. After four straight months of selling, foreign investors turned net buyers of Indian equities in July, pumping in Rs 20,200 crore, aided by attractive valuations, improving corporate earnings and easing global headwinds and Foreign Institutional Investors (FIIs) bought equities worth Rs 277.48 crore on Friday, the news agency said.
"Market sentiment was further supported by a rebound in FII inflows and a strengthening rupee, although elevated US bond yields remain a key risk to the sustainability of foreign flows into emerging markets... Investors will closely watch the upcoming RBI policy meeting for commentary on inflation risks, liquidity conditions, and the future policy trajectory, although interest rates are widely expected to remain unchanged," Vinod Nair, Head of Research, Geojit Investments said.
(With inputs from PTI)
