Nifty Jumps, Sensex Soars: Top Reasons Behind Today’s Market Move – 10th August 2026
The Nifty 50 opened above 24,590 and the Sensex gained just over 100 points on Monday, 10 August, as domestic benchmarks tracked firm Asian markets and steady foreign portfolio inflows. According to NSE data, Nifty 50 was up 26.45 points or 0.11 percent at 24,597 in early trade, while BSE figures showed the Sensex higher by 103.09 points or 0.13 percent at 78,602.26. Traders cited supportive global cues and ongoing Q1 FY27 earnings as the key drivers for the mildly positive start.
The session began on a steady footing after the previous close had seen Nifty 50 end at 24,570.65, down 65.35 points or 0.27 percent, as the index failed to hold above the 24,600 mark. Market participants noted that the benchmark had remained range-bound in the earlier session, with a long upper wick on the daily chart indicating selling pressure at higher levels even as the index stayed above key moving averages. Early Monday moves suggested a continuation of that range, with traders watching whether the index could build on the open amid a heavy results calendar and incoming macro data.
According to exchange data and derivatives pricing, domestic benchmarks opened slightly above last week’s closing levels, while broader indices tracked the cautious optimism. GIFT Nifty was trading around 24,666 ahead of the open, up about 25 points over its previous close, signalling a relatively stable start for the cash market.
Index Performance
Key indices and volatility gauges showed a measured risk-on tone in early trade.
| Index | Close | Move & % Change | Comments |
|---|---|---|---|
| Nifty 50 | approx. 24,597 | +26 pts (+0.11%) | Opened above 24,590 after holding above key moving averages despite prior session weakness. |
| BSE Sensex | approx. 78,602 | +103 pts (+0.13%) | Tracked Nifty higher, aided by gains in select large caps including financials. |
| GIFT Nifty (futures) | approx. 24,666 | +25 pts (approx. +0.1%) | Indicated a steady to mildly positive open for domestic benchmarks. |
Global cues set the tone for Monday’s trade, with Asian markets opening higher after a strong finish on Wall Street and fresh records in Europe. According to regional market data, Japan’s Nikkei 225 gained over 2 percent and South Korea’s Kospi rose more than 1 percent in early trade, while Hong Kong’s Hang Seng was up 0.77 percent. The rebound followed a weaker than expected US jobs report that reduced the probability of a near term Federal Reserve rate hike, improving risk appetite across equities.
US equities had closed higher on Friday, with the S&P 500 adding 0.62 percent to a record, the Nasdaq Composite advancing 1.3 percent and the Dow Jones Industrial Average up 0.28 percent, as per US exchange data. The US economy unexpectedly shed 23,000 jobs in July against expectations of an 83,000 increase, while revisions to May and June payrolls erased 103,000 jobs and labour-force participation fell to a five-year low. Market participants interpreted the data as evidence of a cooling labour market, prompting a reassessment of the Fed’s tightening path and supporting global risk assets.
Sectorally, domestic markets were coming off a weak session on Friday, when rising crude oil prices and renewed uncertainty over the Strait of Hormuz weighed on sentiment. According to BSE and NSE data, the Nifty 50 fell 0.32 percent to 24,557 and the Sensex declined 0.59 percent to 78,491, with broader pressure across sectors as investors reacted to geopolitical headlines. On Monday, however, regional equity strength and a modest pullback in crude helped ease some of those concerns, even as traders stayed alert to developments in the Middle East.
Ponmudi R, CEO at Enrich Money, said that while regional cues were supportive, investors remained focused on the evolving situation around the Strait of Hormuz. “Indian equity markets are expected to open on a steady note, supported by firm regional cues, although investors are likely to remain selective as geopolitical developments and global macroeconomic expectations continue to shape risk sentiment,” he said. He added that Asian markets, with Japan’s Nikkei 225 and South Korea’s Kospi each advancing more than 1 percent, were providing a constructive backdrop for regional equities.
Sectoral Performance
Early sectoral moves were shaped by a mix of global macro trends and stock specific earnings reactions.
| Sector/Index | Direction | Key Drivers |
|---|---|---|
| Financials / Banks | up marginally | Support from State Bank of India after a strong Q1 print and continued FPI interest in large caps. |
| Consumer discretionary | mixed | Titan’s strong Q1 profit growth supported sentiment, while other consumer names adjusted to earnings and valuation concerns. |
| Oil & gas / energy | volatile, tracking crude | Rising crude and uncertainty over the Strait of Hormuz kept energy names in focus. |
| Industrials / capital goods | mixed | Stock specific reactions to Q1 results from companies such as Bharat Forge and others expected later in the day. |
Among individual movers, State Bank of India remained in focus after reporting a 10 percent year on year rise in standalone net profit to ₹21,121 crore for Q1, beating street estimates of around ₹19,052 crore. According to the company’s filing, the profit compared with ₹19,160 crore in the year earlier quarter, with strong net interest margins, core fees and contained expenses supporting earnings. HSBC retained a “buy” view on SBI with a target price of ₹1,310, saying in a note that the first quarter was “an all-round beat led by strong NIM, core fees, contained expenses and credit costs” and that it had lifted FY27 to FY29 earnings estimates by 9 to 14 percent.
Titan also drew attention after reporting a 63 percent year on year rise in consolidated net profit to ₹1,777 crore in Q1, up from ₹1,091 crore a year earlier, according to its results disclosure. The performance underscored continued strength in consumer discretionary demand in segments where the company operates, and traders watched for follow-through buying after the stock’s initial reaction. On the other side, logistics company Delhivery reported a 65 percent year on year decline in net profit to ₹31.9 crore in Q1 FY27, from ₹91.1 crore in the corresponding period last year, with brokerage commentary flagging margin pressure from higher diesel and wage costs.
Ola Electric Mobility was under pressure after its auditors flagged the reversal of a penalty provision in the June quarter. The company’s auditor noted in the unaudited consolidated financial results that Ola Electric had reversed a ₹57 crore provision related to a production-linked incentive scheme penalty, recognising a corresponding credit within other expenses after seeking an extension and waiver from the Ministry of Heavy Industries. As of 30 June 2026, approval for the waiver had not been received, and the auditors said they could not verify whether the reversal was justified. Shares of Ola Electric fell as much as 5 percent in early trade, according to market data, reacting both to the audit note and to Q1 numbers that showed narrower net and EBITDA losses year on year but a 45 percent decline in revenue.
Foreign portfolio investors continued to provide an important support pillar for domestic equities. According to data on foreign investment flows, FPIs bought ₹12,921 crore of Indian equities in the first week of August, extending a positive trend in overseas participation. Market breadth in the previous week had been resilient despite volatility, with the Sensex gaining 404.53 points or 0.51 percent and the Nifty 50 advancing 187.05 points or 0.76 percent, as per exchange figures.
Key Market Statistics
Macro indicators and flows remained central to the market narrative.
| Statistic | Value/Change | Context |
|---|---|---|
| FPI equity flows (first week of August) | ₹12,921 crore inflow | Continued foreign buying supported benchmark indices and large caps. |
| Weekly Sensex move | +404.53 pts (+0.51%) | Benchmarks ended last week higher despite volatility and global uncertainty. |
| Weekly Nifty 50 move | +187.05 pts (+0.76%) | Reflected measured improvement in sentiment rather than a broad-based rally. |
On the macro front, investors were watching domestic inflation data and external sector indicators closely. According to the economic calendar, July CPI and WPI prints, along with the latest foreign exchange reserves data, are due this week and will offer fresh clues on price pressures and external stability. Ajit Mishra, senior vice president, research, at Religare Broking, said investors would monitor the July CPI inflation print, WPI inflation and forex reserves for insights into inflation trends and the broader macro backdrop, alongside the ongoing Q1 FY27 earnings season.
Technically, analysts noted that Nifty 50’s failure to hold above 24,600 in the previous session, combined with a long upper wick on the daily chart, signalled supply at higher levels. At the same time, the index continued to trade above key moving averages, with a relative strength index reading of 59.89 remaining in bullish territory, keeping the broader technical setup constructive. GIFT Nifty trading about 100 points above Friday’s spot Nifty close earlier in the morning had indicated scope for a gap up, though actual cash market moves were more measured.
Global markets continued to influence sentiment through both risk and commodity channels. European indices had logged a fourth consecutive record close on Friday, with the STOXX 600 and Euro STOXX 50 supported by technology stocks and shifting interest rate expectations. In commodities, WTI crude was holding in the 78 to 79 dollar per barrel range after rebounding from last week’s lows, as markets priced in a residual geopolitical risk premium linked to the Strait of Hormuz and ongoing Iran Oman negotiations.
Domestically, the market’s immediate focus remained on the heavy Q1 FY27 earnings slate and incoming macro data. Companies including Bharat Forge, Vodafone Idea, Hindustan Copper, KEC International and PC Jeweller are scheduled to report results during the day, according to company announcements, which could drive stock specific moves and sectoral rotation. With inflation prints, global economic indicators, crude prices and geopolitical developments all in play, traders were preparing for continued bouts of intraday volatility even as the broader trend stayed supported by foreign flows and resilient earnings in key sectors.
