Indian benchmark indices continued their cautious trading on Monday, with the S&P BSE Sensex declining 143.93 points or 0.18% to 77,865.32 at 13:19 IST, while the Nifty 50 index fell 17.45 points or 0.07% to 24,348.55. The market showed signs of recovery from Friday's decline, with investors continuing to assess the latest corporate earnings announcements. The broader market sentiment remained subdued amid a lack of strong directional cues, with the BSE 150 MidCap Index rising 0.22% while the BSE 250 SmallCap Index fell 0.02%. Market breadth was negative, with 1,939 shares rising and 2,357 shares falling on the BSE, while 271 shares remained unchanged. According to Business Standard, metals, realty and private bank stocks advanced while pharma, FMCG and IT shares declined during the session.
Indian benchmark indices are likely to begin Monday's trading session on a cautious note after benchmark indices Sensex and Nifty ended lower on Friday as elevated oil prices and the prolonged US-Iran impasse weighed on investor sentiment. According to ET Now, Vinay Rajani, Senior Technical Research Analyst at HDFC Securities, said that Nifty formed a Doji candlestick pattern on the daily chart, indicating indecision after the recent correction from the highs. The index closed near its 20-day DEMA at 24,363 and 200-day DEMA at 24,385, making the 24,360–24,385 zone crucial for the near-term trend. Immediate support remains at 24,265, followed by the psychological level of 24,000, while 24,630 and 24,750 are likely to act as key resistance zones. Rajani noted that a sustained close below the 200-day DEMA could weaken the technical setup, while a move above 24,630 would improve short-term sentiment.
Among Nifty 50 constituents, Hindalco led the gainers with a 1.70% rise, followed by HDFC Life (up 1.21%), ONGC (up 1.13%), Bajaj Finance (up 1.06%) and Kokak Mahindra Bank (up 0.96%). On the downside, Infosys declined 2.14%, HCL Tech fell 2.05%, ITC dropped 1.69%, TCS declined 1.61% and Cipla fell 1.58%. As per Business Standard, except for Media and Consumer Durables, all sectoral indices closed in the red, with Financial Services, Pharma and Metal being the biggest underperformers. The broader market remained relatively weak, with the Nifty Midcap 100 and Nifty Smallcap 100 declining by 0.53% and 0.69%, respectively. Market breadth on the BSE deteriorated, with the advance–decline ratio falling to 0.84, indicating increased profit booking.
European shares inched up on Monday, led by basic resources stocks as gold prices advanced on a weaker dollar and softer US economic data, while easing expectations of a Federal Reserve rate hike supported sentiment. According to Business Standard, in Asia, most markets traded higher as well, although gains were tempered by renewed concerns over the Middle East conflict and elevated crude oil prices. Brent crude hovered around $89 a barrel as progress towards a US-Iran peace deal remained stalled and tanker traffic through the Strait of Hormuz stayed disrupted. US inflation data released last week showed consumer prices rose 0.1% in July, while producer prices were unchanged, reducing expectations of a near-term Federal Reserve rate hike. The minutes of the Fed's July meeting, due on Wednesday, will be closely watched for clues on the central bank's policy outlook. Despite the decline, the S&P 500 posted its third consecutive weekly gain.
Several companies reported significant quarterly results that influenced market sentiment. PTC Industries jumped 6.72% after reporting a consolidated net profit of ₹29.2 crore in Q1 FY27, higher by 466.2% compared with ₹5.2 crore in Q1 FY26, with total income increasing 83% year-on-year to ₹197.1 crore. Knowledge Marine & Engineering Works added 2.33% as its consolidated net profit surged 447.7% to ₹61.73 crore in Q1 FY27 from ₹11.27 crore in Q1 FY26, with revenue rising 138.1% year-on-year to ₹115.41 crore. Zaggle Prepaid Ocean Services hit the lower circuit of 20% after reporting a 32.86% year-on-year decline in consolidated net profit to ₹17.53 crore for Q1 FY27. Voltas slipped 3.98% despite reporting a 51% rise in consolidated net profit to ₹213 crore on a 19% increase in total income to ₹4,765 crore in Q1 FY27.
