The S&P BSE Sensex jumped over 400 points to trade above 78,800, while the NSE Nifty 50 index rose above 24,600 according to latest trading data. The positive momentum was supported by easing oil prices, strong foreign institutional investor buying, and other favorable factors that boosted investor sentiment significantly. The India VIX slumped 3% to 11.85, indicating reduced market volatility. In the four consecutive trading sessions, the Sensex rallied 2.44% while the Nifty jumped 3.29%. The rally was broad-based with the Nifty 100 advancing 1.55%, Nifty 200 climbing 1.48%, and Nifty 500 adding 1.46%. Market breadth remained positive with 1,935 shares rising against 488 declines on NSE, while 101 stocks remained unchanged. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.5%, indicating strong performance across broader market segments.
The Nifty IT index rose 3.28% to 31,715.25, leading sectoral performance after falling 1.56% in the past trading session. Major IT stocks showed strong gains with LTM up 7.52%, Tata Consultancy Services up 4.57%, Infosys up 4.42%, Mphasis up 3.02%, and Wipro up 2.73%. Other notable performers included Coforge (up 2.67%), Oracle Financial Services Software (up 2.28%), and HCL Technologies (up 1.44%). The sector's recovery reflects renewed investor confidence in technology stocks. Among Sensex stocks, InterGlobe Aviation (IndiGo) topped the gainers with a 4.22% rally, followed by TCS gaining 3.57%, Infosys rising 3.54%, Eternal advancing 2.53%, while ITC, Axis Bank, Bajaj Finserv and LTIMindtree also posted strong gains. The Nifty IT index has added 16.00% over the last one month, demonstrating strong momentum in the technology sector. From the Sensex pack, InterGlobe Aviation, Tata Consultancy Services, Infosys, Eternal, ITC, and Axis Bank were among the major winners, while Sun Pharma, Bharti Airtel, Maruti, and Tata Steel were among the laggards.
According to The Economic Times, eight key factors are boosting sentiment on Dalal Street today. 1) Iran-US peace deal hopes emerged as a major catalyst, with US President Donald Trump expressing optimism that the key shipping route could reopen soon. 2) Oil prices fell below $80 per barrel, providing significant relief to market participants. 3) Rupee gains also supported the positive momentum, with analysts expecting the currency to trade in the 95.00–95.75 range over the near term. 4) Strong FII buying after a massive selloff earlier this year boosted investor sentiment. 5) Global market strength with Wall Street's Nasdaq rallying nearly 3% and S&P 500 jumping around 2%, while Asian markets including South Korea's Kospi jumping over 4% and Japan's Nikkei rallying over 3%. 6) Bond yields fell, providing additional support to market sentiment. 7) Strong Q1 earnings season with results surprising on the upside, potentially making FY 27 earnings growth better than initial expectations. 8) RBI MPC meet outcome focus, with the central bank expected to keep interest rates unchanged.
Among sectoral indices, the Nifty Realty jumped over 1% to lead gains, while Nifty FMCG, Nifty Financial Services and Nifty Private Bank slipped into the red. Bharti Airtel, IndiGo, L&T, M&M and UltraTech Cement shares gained 1-2% to lead Sensex gains, though Titan shares declined nearly 1% to lead losses. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.5%, indicating strong performance across broader market segments. Comementing on Nifty technical outlook, experts said that the 24,600 zone now acts as the immediate resistance area, where the index has repeatedly faced supply. "A decisive and sustained breakout above this band could strengthen bullish momentum further and pave the way for an advance towards the 24,800 mark," an analyst stated. "On the downside, the 24,500–24,400 region is expected to provide immediate support. Holding above this zone will be crucial to preserve the ongoing recovery, while a break below 24,400 could trigger short-term profit booking towards the 24,300–24,200 support zone," a market expert mentioned. The positive momentum extended to broader market segments with Nifty MidCap 100 rising 1.21%, Nifty Smallcap 100 gaining 1.29%, and Nifty Smallcap 250 climbing 1.38%.
Urban Company surged 18% after reporting strong Q1 FY27 results with revenue increasing 43.8% YoY and 24.1% QoQ to ₹528.34 crore. The company's consolidated net loss narrowed to ₹92.12 crore in Q1 FY27 from a net profit of ₹6.94 crore in Q1 FY26. Sportking India surged 14.32% after standalone net profit soared 122.85% to ₹75.97 crore in Q1 FY27 compared with ₹34.09 crore in the previous year. Blue Dart Express gained 2.93% following strong Q1 FY27 earnings with consolidated net profit increasing 81.2% YoY to ₹88.49 crore. Bajaj Finserv shares rose 2-3% following the company's Q1 FY27 results showing a 12% year-on-year increase in consolidated net profit to ₹3,132 crore, supported by a 19% rise in revenue. ITC shares rose 2% after the FMCG major reported June-quarter results, despite a 27% YoY decline in standalone net profit, with revenue growing 28%.
