Market Commentary End Session News Details

Nifty ends near 24,000, breaks 5-session losing run on oil-led relief rally

(27-Jul-26   16:54)

Key equity benchmarks snapped a five-session losing streak on Monday, with the Nifty closing near the 24,000 mark. The rally was fuelled by lower crude oil prices, easing geopolitical tensions and firm global cues. Optimism over Q1 earnings further lifted sentiment, while IT stocks gained after a foreign brokerage upgraded the sector to neutral from underweight.

The S&P BSE Sensex climbed 776.01 points or 1.02% to 76,835.78. The Nifty 50 index jumped 228.50 points or 0.96% to 23,995.95. Over the previous five consecutive trading sessions, the Sensex declined 2.67%, while the Nifty fell 2.32%.

Eternal (up 5.61%), Infosys (up 3.59%) and Bajaj Finance (up 3.57%) boosted the Nifty higher today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.13% and the BSE 250 SmallCap Index rallied 1.34%.

The market breadth was strong. On the NSE, 2259 shares rose and 1071 shares fell. A total of 116 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 9.76% to 12.66.

Economy:

India's foreign exchange reserves rose by $1.08 billion to $676.24 billion in the week ended 17 July 2026, according to data released by the Reserve Bank of India (RBI).

Foreign currency assets (FCAs), the largest component of the reserves, increased by $4.55 billion to $551.06 billion.

Gold reserves fell by $3.48 billion to $101.75 billion during the week. Special Drawing Rights (SDRs) rose by $44 million to $18.67 billion.

India's reserve position with the International Monetary Fund (IMF) declined by $32 million to $4.76 billion at the end of the reporting week.

Numbers to Track:

In the commodities market, Brent crude for September 2026 settlement fell $7.93 or 8.19% to $88.85 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.9425 compared with its close of 96.5300 during the previous trading session.

The yield on India's 10-year benchmark federal paper was down 0.82% to 6.770 as compared with previous close 6.826.

MCX Gold futures for 5 August 2026 settlement rose 0.57% to Rs 1,43,925.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 101.28.

The United States 10-year bond yield fell 0.94% to 4.635.

Global Markets:

Dow Jones futures jumped 589 points, signalling a strong start for Wall Street.

European shares rallied sharply on Monday as a steep fall in crude oil prices eased inflation concerns and boosted investor sentiment ahead of a crucial week of central bank meetings and corporate earnings.

Asian indices ended higher after reports of a pause in US-Iran hostilities over the weekend lifted risk appetite and drove oil prices lower.

China's industrial profits rose 15.1% year-on-year in June, according to data released by the National Bureau of Statistics, although growth slowed for a second consecutive month.

In Singapore, the Monetary Authority of Singapore tightened monetary policy for a second straight meeting as a precaution against renewed inflationary pressures from a potential rebound in oil prices. Core inflation, which excludes accommodation and private transport, edged up to 1.6% in June from 1.4% in May, while headline inflation stood at 1.9%, remaining within the central bank's projected 2026 range of 1.5% to 2.5%.

Geopolitical tensions remained elevated after Ukraine struck an Iranian commercial vessel in the Caspian Sea, prompting Tehran to condemn the attack as a hostile and criminal act.

On Wall Street, the S&P 500 ended little changed on Friday as losses in chip stocks offset broader gains amid ongoing developments in the Middle East. The S&P 500 rose 0.05% to 7,411.98, the Dow Jones Industrial Average gained 235.60 points, or 0.46%, to 51,947.25, while the Nasdaq Composite fell 0.64% to 24,975.82.

Investor focus now shifts to earnings from major technology companies and the US Federal Reserve's policy meeting later this week.

Stocks in Spotlight:

Fairchem Organics hit an upper limit of 5% after the company reported a sharp rise in earnings for the quarter ended 30 June 2026. The company's standalone profit after tax surged 755.56% YoY and 171.27% QoQ to Rs 10.01 crore in Q1 FY27. Revenue from operations increased 34.40% YoY and 50.64% QoQ to Rs 176.15 crore in the quarter ended 30 June 2026.

Lodha Developers jumped 5.27% after the company reported a 103.36% surge in consolidated net profit to Rs 1,372.1 crore in Q1 FY27, compared with Rs 674.7 crore in Q1 FY26. Revenue from operations rose 43.1% YoY to Rs 4,996.7 crore in Q1 FY27, reflecting strong execution and sustained demand across its residential portfolio.

AU Small Finance Bank (SFB) jumped 5.08% after the company reported a 37.03% jump in standalone net profit to Rs 795.95 crore in Q1 FY27 compared with Rs 580.85 crore in Q1 FY26. Total income climbed 15.47% YoY to Rs 5,991.95 crore in Q1 FY27.

Canara Bank added 1.08% after the bank reported 2.19% increase in net profit to Rs 4,856 crore on a 4.26% rise in total income to Rs 39,684 crore in Q1 FY27 as compared with Q1 FY26.

Seshasayee Paper and Boards advanced 3.42% after the company's standalone net profit surged 96.89% to Rs 33.59 crore in Q1 FY27 from Rs 17.06 crore in Q1 FY26. Revenue from operations increased 27.68% YoY to Rs 492 crore in Q1 FY27, supported by higher production, improved sales volumes, and better realizations in both domestic and export markets.

Zen Technologies slipped 5% after the company reported a 27.83% year-on-year (YoY) tumble in consolidated net profit to Rs 34.46 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 47.75 crore in Q1 FY26. Revenue from operations fell 10.48% YoY to Rs 141.63 crore in the quarter ended 30th June 2026.

Vedant Fashions added 1.19% after the company reported a 14.7% rise in net profit to Rs 80.6 crore on a 7.2% increase in revenue from operations to Rs 301.4 crore in Q1 FY27 as compared with Q1 FY26.

Jindal Steel advanced 2.92%. The company reported a 43.58% decline in consolidated net profit to Rs 844 crore in the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 1,496 crore in the corresponding quarter last year. Total income, however, rose 25.76% year-on-year (YoY) to Rs 15,501 crore in Q1 FY27.

Birla Corporation fell 5.42% after the company reported a 3.20% fall in consolidated net profit to Rs 115.73 crore in Q1 FY27 from Rs 119.57 crore in Q1 FY26. Revenue for the first quarter of FY27 rose by 7.8% year-on-year (YoY) to Rs 2,646.45 crore.

Tata Consumer Products (TCPL) added 1.84% after the company reported a 27.78% year-on-year increase in consolidated net profit to Rs 426.98 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 334.15 crore in Q1 FY26. Revenue from operations rose 11.93% year-on-year to Rs 5,348.88 crore in Q1 FY27.

SBFC Finance shed 2.01%. The company reported a 28.98% jump in net profit to Rs 130.12 crore in Q1 FY27 as against Rs 100.89 crore posted in Q1 FY26. Total income increased 26.52% year on year to Rs 491.57 crore in the quarter ended 30 June 2026.

IPO Update:

INDO-MIM received bids for 3,98,40,05,610 shares as against 5,50,93,201 shares on offer, according to stock exchange data at 16:45 IST on Monday (27 July 2025). The issue was subscribed 72.31 times.

Xtranet Technologies received bids for 11,18,38,430 shares as against 91,93,800 shares on offer, according to stock exchange data at 16:45 IST on Monday (27 July 2025). The issue was subscribed 12.16 times.

Lohia Corp received bids for 10,37,80,180 shares as against 1,43,52,274 shares on offer, according to stock exchange data at 16:45 IST on Monday (27 July 2025). The issue was subscribed 7.23 times.

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