Stock Market Highlights Today: Nifty gained 200 points, is the range-bound trade finally ending? – 3rd August 2026

The Nifty 50 climbed about 200 points on Monday to close near 24,580, while the Sensex added more than 600 points, as a sharp fall in crude oil prices, stronger foreign flows and resilient Q1 earnings supported risk appetite ahead of the RBI policy outcome. The rally came even as broader Asian markets were mixed, with India again trading counter to weakness in regional equities. Market participants said the move brought the Nifty back to the top of a 15-week consolidation band, raising the stakes around the 24,550 to 24,600 resistance zone.

Indices opened August on a firm note and sustained gains through the session. According to intraday data, the Sensex jumped over 550 points at the open to trade around 78,646, while the Nifty 50 immediately crossed 24,550. Buying broadened into the afternoon, with the Sensex briefly touching about 78,755 and the Nifty topping 24,600 before settling slightly below the intraday highs. Traders described the day’s action as largely trend-following, with buying emerging on dips rather than aggressive momentum chasing.

Index Performance

Indian benchmarks and key volatility gauges ended the day as follows, per BSE and NSE data.

Index	Close	Move & % Change	Comments
Sensex	approx. 78,719	approx. +624 pts (+0.8%)	Opened strong on crude-led relief, held gains through the session with financials and FMCG leading.
Nifty 50	approx. 24,577	approx. +194 pts (+0.8%)	Tested the 24,600 band, closing near the top of its 15-week range amid broad-based buying.

The day’s advance was driven by a combination of global and domestic factors. Crude oil prices tumbled after US President Donald Trump signalled talks with Iran, easing fears of supply disruption in the Middle East and lowering the implied energy cost outlook for importers like India. Brent crude fell nearly 5 percent to around 83.56 dollars a barrel, with some live market commentary citing a drop of up to 7 percent and levels below 84 dollars. At the same time, US Treasury yields declined, improving the relative appeal of equities, while US stock futures traded higher.

Domestic drivers were equally important. Analysts pointed to better than expected Q1 FY27 earnings from Nifty constituents and a busy results calendar this week, with companies such as SBI, Bharti Airtel, Titan and Trent set to report. “The Q1 results declared so far also have surprised a bit on the upside. If this trend sustains, FY27 earnings growth can be better than initial expectations,” said V K Vijayakumar, Chief Investment Strategist at Geojit Investments. The combination of earnings resilience, improving monsoon progress and easing inflation concerns helped reinforce the case for continued equity inflows.

Sectorally, defensives and rate-sensitive pockets shared the spotlight. Nifty FMCG rose about 1.1 percent, aided by gains in ITC after its June quarter cigarette business delivered strong revenue growth. Nifty Metal gained around 0.9 percent, reflecting support from lower energy costs and an improving global demand outlook. Financials participated meaningfully, with Nifty Bank and Nifty PSU Bank advancing roughly 0.8 percent and 0.7 percent respectively, as foreign investors continued to add to positions in banks and non-bank lenders. On the downside, Nifty Media fell about 1.6 percent and Nifty Pharma slipped 0.5 percent, showing some profit-taking in pockets that had outperformed in recent volatility.

Sectoral Performance

Sector/Index	Direction	Key Drivers
Nifty FMCG	up 1.1%	ITC-led gains after strong cigarette revenue growth in Q1 supported the defensive pack.
Nifty Metal	up 0.9%	Lower crude and energy costs, plus improving global outlook, lifted metals.
Nifty Bank	up 0.78%	Renewed FII interest and robust credit growth underpinned banking stocks.
Nifty PSU Bank	up 0.74%	Value buying in state-run lenders ahead of key Q1 results.
Nifty Financial Services (ex-bank)	up over 1%	Buying in NBFCs like Bajaj Finance and Bajaj Finserv boosted the index.
Nifty Media	down 1.61%	Sector lagged amid stock-specific weakness and rotation into cyclicals.
Nifty Pharma	down 0.49%	Mild profit-booking after recent defensive flows.

Individual stocks saw notable moves in response to both macro and corporate developments. On the Sensex, Bajaj Finance, Bajaj Finserv, ITC, InterGlobe Aviation, Tata Consultancy Services, Infosys, Larsen & Toubro and Axis Bank were among the top gainers in early trade, rising up to about 3 percent. InterGlobe Aviation, the IndiGo operator, extended gains to nearly 4 percent intraday after Willie Walsh took charge as chief executive, with investors betting on a new phase of growth and global expansion for the airline.

Sun Pharma stood out as the lone significant loser on the Sensex, falling close to 2 percent at one point, while Maruti Suzuki and Bharti Airtel also traded marginally lower despite being among the brokerage favourites in recent strategy notes. Motilal Oswal highlighted Bharti Airtel, SBI, ICICI Bank, M&M, Titan, Eternal, Shriram Finance and Bajaj Finance as top Nifty picks in its August strategy, underscoring the continued institutional interest in large-cap financials and consumer names. On the earnings side, Motilal Oswal estimated that profits for 39 Nifty companies that have reported so far grew 11 percent year on year, beating its 7 percent forecast, with Reliance Industries, JSW Steel, ICICI Bank, Bajaj Finance and Axis Bank driving 59 percent of incremental earnings.

Foreign and domestic flows remained supportive. According to exchange data, foreign institutional investors bought equities worth about 277 crore rupees on Friday, extending a nascent reversal in foreign flows that saw net inflows of more than 20,000 crore rupees in July after four months of outflows. A separate ownership study by Motilal Oswal showed domestic institutional investors now hold a record 21 percent stake in Nifty 500 companies, surpassing FIIs whose share has fallen to 17 percent, helped by roughly 166 billion dollars of DII inflows over 22 months and steady monthly SIP contributions. Market breadth reflected this liquidity backdrop, with 2,203 stocks advancing on the NSE against 446 declines and 110 unchanged.

Key Market Statistics

Statistic	Value/Change	Context
NSE advance-decline	2,203 / 446	Strong breadth signalled broad-based buying beyond index heavyweights.
FII cash market flows (Friday)	+₹277.48 crore	Third straight day of net buying, adding to July’s positive trend.
DII ownership in Nifty 500	21% (June 2026)	Record share, now above FIIs at 17%, supported by robust SIP inflows.
USD/INR	95.13 (rupee up 30 paise)	Rupee strengthened in early trade on lower crude and improved foreign inflows.
Brent crude	$83.56 per barrel (down ~4.97%)	Sharp fall on US-Iran talks and OPEC+ quota changes eased energy cost concerns.

Technically, the Nifty’s close near 24,580 keeps it perched at the upper end of a 15-week range between 23,070 and 24,601, as tracked by SBI Securities. The index has recovered more than 760 points over the past six sessions and is now trading above its 20-, 50-, 100- and 200-day exponential moving averages, with the 200-day EMA around 24,370 recently reclaimed. SBI Securities and other analysts identify 24,550 to 24,600 as a crucial resistance band, with a decisive breakout above 24,600 opening the way towards 24,800 to 25,000, and potentially 24,900 to 25,200.

Support levels are clustered just below current prices. Ajit Mishra of Religare Broking sees immediate support at 24,270, followed by 24,150 to 24,050, while Rupak De of LKP Securities places support near 24,200 and resistance around 24,500. De cautioned that “momentum appears to be lacking as traders remain cautious due to volatile crude oil prices and the uncertain situation in the Middle East,” suggesting that any breakout will need confirmation from sustained flows and stable global cues. On the macro side, the drop in Brent below 84 dollars, improving monsoon trends and easing US yields are seen as near-term positives.

The next catalysts are already in focus. The Reserve Bank of India’s monetary policy decision later this week, a heavy Q1 earnings slate with 573 companies due to report, and the trajectory of foreign flows will likely determine whether the Nifty can finally exit its 1,531-point range. With FIIs turning buyers and domestic institutions firmly in control of the ownership structure, traders will watch if the ongoing global AI trade unwind continues to redirect capital towards India’s diversified equity market. For now, Monday’s close has set up the 24,550 to 24,600 band as the key battleground for bulls and bears in the days ahead.