Market Commentary Quick Review News Details

Sensex settles 544 pts higher; Nifty ends above 24,750

(03-Aug-26   15:56)

The key domestic indices ended with strong gains today, extending their winning streak to a fourth consecutive session, supported by a sharp correction in crude oil prices amid reports of renewed U.S.-Iran talks, robust June-quarter earnings, stock-specific buying, continued foreign institutional investor (FII) inflows and selective gains in heavyweight stocks. The Nifty ended above the 24,750 mark. Barring the Nifty media index, all other sectoral indices traded in the green.

As per provisional closing data, the S&P BSE Sensex jumped 544.39 points or 0.70% to 78,639.03. The Nifty 50 index rose 390.70 points or 1.6% to 24,774.30. In the four consecutive trading sessions, the Sensex rallied 2.44% while the Nifty jumped 3.29%.

In the broader market, the BSE 150 MidCap Index rose 0.73% and the BSE 250 SmallCap Index added 1.32%.

The market breadth was strong. On the BSE, 2,833 shares rose and 1,558 shares fell. A total of 204 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.91% to 11.98.

CAS begins for F&O stocks:

Effective 3 August 2026, the Closing Auction Session (CAS) has been introduced for stocks in the F&O segment, revising market closing timings while keeping the opening time unchanged. Continuous trading in F&O stocks will now end at 3:15 pm, followed by the closing auction session, while non-F&O stocks will continue to trade until 3:30 pm. Trading in index and stock futures and options will conclude at 3:40 pm. The new mechanism is aimed at enhancing price discovery for the official closing price, reducing end-of-day volatility, and facilitating transparent execution of large institutional orders.

RBI MPC meeting kicks off today:

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) begins its three-day meeting today amid rising global inflationary pressures, elevated crude oil prices and a growing number of central banks that have tightened monetary policy in recent months. The MPC will meet from 3 to 5 August 2026, with RBI Governor Sanjay Malhotra scheduled to announce the policy decision on 5 August 2026.

Buzzing Index:

The Nifty IT index rose 3.28% to 31,715.25. The index fell 1.56% in the past trading session.

LTM (up 6.83%), Tata Consultancy Services (up 3.62%), Infosys (up 3.55%), Mphasis (up 3.02%) and Wipro (up 2.73%), Coforge (up 2.67%), Oracle Financial Services Software (up 2.28%), HCL Technologies (up 1.44%) jumped.

Initial Public Offer (IPO):

MV Electrosystems received bids for 70,19,81,646 shares as against 39,87,491 shares on offer, according to stock exchange data at 15:28 IST on Monday (3 August 2026). The issue was subscribed 176.05 times.

The issue opened for bidding on 30 July 2026 and it will close on 3 August 2026. The price band of the IPO is fixed between Rs 400 and 425 per share. An investor can bid for a minimum of 34 equity shares and multiples thereof.

Juniper Green Energy received bids for 40,99,31,808 shares as against 5,89,16,709 shares on offer, according to stock exchange data at 15.28 IST on Monday (3 August 2026). The issue was subscribed 6.96 times.

The issue opened for bidding on 30 July 2026 and it will close on 3 August 2026. The price band of the IPO is fixed between Rs 214 and 225 per share. An investor can bid for a minimum of 66 equity shares and multiples thereof.

Monthly Auto Sales:

Ashok Leyland advanced 4.76% after the company reported a 30% increase in total vehicle sales (domestic and exports) to 19,590 units in July 2026, compared with 15,064 units sold in July 2025.

Eicher Motors rose 2.14% after its unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 15.8% YoY increase in commercial vehicle (CV) sales to 8,241 units in July 2026.

Escorts Kubota rose 1.11% after the company reported a 22.0% year-on-year increase in tractor sales for July 2026, with total volumes rising to 8,731 units compared with 7,154 units in July 2025.

VST Tillers Tractors rose 0.28%. The company reported a 9.55% decline in total sales for July 2026, with overall volumes falling to 5,853 units from 6,471 units in the corresponding month last year.

SML Mahindra slipped 4.13%. The company said that it had sold 1,603 units in July 2026, registering a growth of 12% from 1,427 units sold in the same period last year.

TVS Motor Company rose 0.72%. The company reported a 38% increase in total sales for July 2026, selling 629,675 units compared with 456,350 units in the corresponding month last year.

Bajaj Auto shed 0.10%. The company reported a 30% increase in total auto sales to 4,74,677 units in July 2026, compared with 3,66,000 units sold in July 2025.

Force Motors added 2.87% after the company reported a 36.84% year-on-year increase in total sales to 3,770 units in July 2026 from 2,755 units in the corresponding month last year.

Tata Motors jumped 3.56% after it has reported a 37% year-on-year (YoY) increase in total commercial vehicle (CV) sales to 39,641 units in July 2026, compared with 28,956 units sold in the same month last year.

Stocks in Spotlight:

Urban Company rose 12.41% after reporting strong business growth in Q1 FY27, with revenue increasing sharply and losses narrowing on a sequential basis. The company reported a consolidated net loss of Rs 92.12 crore in Q1 FY27, compared with a net profit of Rs 6.94 crore in Q1 FY26. Sequentially, the loss narrowed from Rs 161.16 crore in Q4 FY26. Revenue from operations increased 43.8% YoY and 24.1% QoQ to Rs 528.34 crore in the quarter ended 30 June 2026.

Sportking India surged 14.32% after the company's standalone net profit soared 122.85% to Rs 75.97 crore in the quarter ended 30th June 2026 compared with Rs 34.09 crore in the quarter ended 30th June 2025. Revenue from operations increased 20.12% YoY to Rs 703.67 crore in Q1 FY27.

Blue Dart Express surged 2.93% after the company reported strong Q1 FY27 earnings. The company's consolidated net profit increased 81.2% YoY and 81.1% QoQ to Rs 88.49 crore in Q1 FY27. Revenue from operations rose 15.0% YoY and 8.1% QoQ to Rs 1,657.72 crore in the quarter ended 30 June 2026.

Jupiter Life Line Hospitals declined 3.18% after the multi-specialty hospital operator reported a decline in earnings for the quarter ended 30 June 2026, as expansion-related costs and higher finance expenses weighed on profitability. The company's consolidated net profit declined 14.59% year-on-year (YoY) to Rs 37.48 crore in Q1 FY27, compared with Rs 43.88 crore in the corresponding quarter last year. Revenue from operations, however, rose 16.44% YoY to Rs 410.98 crore, reflecting sustained patient demand and improved realizations.

Divis Laboratories jumped 3.30% after it has reported a 65.50% year-on-year (YoY) rise in consolidated net profit to Rs 902 crore in Q1 FY27, compared with Rs 545 crore in Q1 FY26. Revenue from operations grew 27.80% YoY to Rs 3,080 crore in Q1 FY27 from Rs 2,410 crore in Q1 FY26.

APL Apollo Tubes jumped 6.91% after the company reported 10.9% rise in consolidated net profit to Rs 263.1 crore on an 8.5% increase in net revenue to Rs 5,606.7 crore in Q1 FY27 as compared with Q1 FY26.

Prataap Snacks shed 0.86%. The packaged snacks maker reported a sharp improvement in earnings for the quarter ended 30 June 2026, aided by strong revenue growth and improved operating efficiencies. The company's standalone net profit surged 257.97% year-on-year to Rs 2.47 crore in Q1 FY27, from Rs 0.69 crore in the corresponding quarter last year. Sales from operations increased 19.93% to Rs 490.43 crore.

Global Markets:

The US Dow Jones Index futures are currently up by 411 points, indicating a positive opening for US stocks today.

European shares traded higher on Monday as a sharp decline in crude oil prices, driven by reports of renewed U.S.-Iran negotiations, boosted investor sentiment.

Asian markets ended mostly lower as investors awaited the July jobs report and another busy week of earnings to kick off August trading.

Oil prices declined after U.S. President Donald Trump said on Sunday that he had cancelled a planned attack on Iran, easing concerns over a potential supply disruption. Earlier media reports had suggested that the U.S. was preparing a fresh wave of strikes as hopes for a negotiated settlement had diminished, fuelling a sharp rise in energy prices.

In the commodities market, Brent crude for the October 2026 settlement fell $4.46 or 5.07% to $83.47 a barrel.

Last week on Wall Street, the three major indexes closed higher on Friday, with the Dow advancing 276.97 points, or about 0.53%, to 52,485.03. The S&P 500 closed up 0.7% at 7,489.72, and the Nasdaq Composite surged 1% to 25,373.85.

While Big Tech companies largely delivered on earnings, investors are becoming less willing to overlook mounting AI-related spending without clearer evidence of earnings growth, media reports stated.

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