Stock Market Highlights Today: Nifty holds 24,560 as earnings offset oil worries – 10th August 2026

Indian equities ended almost unchanged on Monday, with the Nifty 50 closing near 24,560 and the Sensex around 78,479, as strong first quarter earnings countered concerns over oil prices and West Asia tensions. Intraday, the benchmarks oscillated in a narrow band, reflecting caution ahead of key domestic inflation data and the outcome of the Nifty index review. Traders also tracked potential flows linked to a possible Nifty 50 exclusion for Wipro and a widely anticipated inclusion for BSE Ltd.

According to exchange data, the Sensex opened nearly flat at 78,502 and the Nifty 50 at 24,581, helped by firm cues from GIFT Nifty and supportive global markets. Through the day, the Nifty traded between roughly 24,560 and 24,606, while the Sensex moved in a tight corridor around the 78,460 to 78,560 zone. The closing auction session saw mild profit taking, leaving both benchmarks marginally in the red but still holding above key technical support bands.

The muted headline move masked active rotation within sectors and individual stocks, with earnings surprises and index rejig speculation driving sharp moves in select names. In the broader market, midcaps outperformed, while smallcaps were mixed.

Index Performance

The main indices and volatility gauge reflected the rangebound tone.

Index	Close	Move & % Change	Comments
Nifty 50	24,560	-10 pts (-0.04%)	Traded in a narrow band as strong Q1 results offset oil and West Asia worries.
Sensex	78,478	-21 pts (-0.03%)	Opened flat, slipped slightly in CAS after intraday gains in financials and IT.
Nifty MidCap	approx. up 0.66%	n.a.	Outperformed large caps, supported by stock specific earnings-led buying.
Nifty SmallCap	approx. up 0.16%	n.a.	Fluctuated through the session, ending modestly higher.
India VIX	12.82	+5%	Volatility index rose as traders positioned around earnings and macro data.

Market participants attributed the resilience in benchmarks to better than expected Q1 numbers across several sectors, despite a backdrop of rising crude and uncertainty around a possible US Iran deal on the Strait of Hormuz. According to analysts, domestic demand has stayed firm, underpinning earnings in banking, autos, pharmaceuticals, metals and digital platform companies. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said the principal bullish factor was the earnings beat, adding that “the resilient domestic demand will continue to support revenue and earnings growth in Q2, too.” Foreign institutional investors have also turned net buyers since July and continued to add positions in most sessions in August, which has helped cushion any global risk-off moves.

At the same time, traders remained wary of deficient monsoon risks, geopolitical developments and the near term impact of higher oil prices on inflation and margins. The market is also adjusting to the new closing auction session framework for futures and options stocks, which has introduced an additional layer of intraday volatility and closing price dynamics. With the earnings season nearing its end and key macro prints due, many participants preferred to stay light on risk, keeping indices locked in consolidation.

Sectorally, PSU banks underperformed, giving up early gains, while private banks, IT and auto stocks provided support to the benchmarks. Nifty PSU Bank, which was up nearly 1 percent in early trade, reversed course later in the day as profit taking set in. In contrast, Nifty Private Bank and Nifty IT indices outperformed, aided by strength in ICICI Bank, HDFC Bank, Infosys, HCL Tech and other large names. Consumer durables and select discretionary plays lagged, with Nifty Consumer Durables down around 0.5 percent, as investors booked profits after recent outperformance.

Sectoral Performance

Key sector indices showed divergent trends through the session.

Sector/Index	Direction	Key Drivers
Nifty PSU Bank	down from early +1%	Early strength faded as traders booked profits and rotated into private banks.
Nifty Private Bank	up	Gains in ICICI Bank and HDFC Bank supported the index.
Nifty IT	up	Buying in Infosys, HCL Tech, Tech Mahindra and TCS aided outperformance.
Nifty Consumer Durables	down 0.5%	Weakness in select discretionary names weighed on the sector.
Nifty Realty	up	Benefited from domestic demand optimism and lower rate expectations.
Auto (large caps)	up	M&M and other auto names gained on steady demand outlook.

Among individual stocks, Titan Company, ICICI Bank, Trent and HCL Tech were early gainers on the Sensex, rising between 0.5 percent and 2 percent, as per BSE data. Later in the session, Titan, Grasim Industries and Tata Steel emerged as top gainers in the Nifty 50, helping the index stay near the 24,560 mark despite pressure from select financials. On the downside, NTPC, Bharti Airtel and Bajaj Finance fell close to 1 percent, weighing on the benchmarks.

Outside the benchmarks, index rejig speculation drove notable moves. BSE Ltd shares jumped over 3 percent at one point and were last seen around 3.3 percent higher at Rs 3,569 apiece, as traders bet on a potential Nifty 50 inclusion. A Nuvama Alternative & Quantitative Research note projected that a Nifty 50 entry for BSE could trigger passive inflows of about 741 million dollars. Wipro shares, seen as a possible exclusion candidate, traded around 0.6 percent lower at Rs 186.45.

In the wider Nifty 500 universe, Hitachi Energy rallied over 7 percent at the open after reporting strong first quarter results, with revenue rising 68.6 percent year on year to Rs 2,494 crore. Vijaya Diagnostics gained almost 6 percent, while BLS International Services and Concord Biotech were up around 3 percent each, supported by active volumes. On the losing side, Aditya Birla Fashion and Retail fell up to 8 percent, Ola Electric Mobility dropped over 4 percent after a 45 percent year on year revenue decline, NLC India slipped more than 6 percent on a 39.3 percent net profit fall, and Kaynes Technology shed over 7 percent following weaker than expected Q1 numbers.

Flows and breadth remained constructive despite the flat close. NSE data showed 1,454 advances against 1,174 declines and 139 unchanged stocks, indicating a mildly positive breadth. India VIX rose over 5 percent to 12.82, suggesting increased hedging and short term caution. Foreign portfolio investors have invested Rs 12,921 crore in Indian equities in the first week of August, according to recent flow data, reinforcing the role of overseas buying in supporting large caps.

Key Market Statistics

Key indicators underlined the market’s consolidating bias.

Statistic	Value/Change	Context
Advance Decline (NSE)	1,454 / 1,174	Slightly positive breadth despite flat benchmarks.
India VIX	12.82, up 5%	Higher volatility ahead of macro data and index rejig.
FPI flows (first week Aug)	Rs 12,921 crore inflow	Overseas investors remain net buyers in Indian equities.

On the technical side, analysts flagged a consolidation range for the Nifty between 24,400 and 24,775. Support is seen in the 24,500 to 24,570 band, while 24,650 to 24,730 is viewed as an upside challenge zone. Friday’s failure to attract strong bearish momentum has reduced the probability of an immediate slide to 24,400 or a confirmed trend reversal, according to technical commentary. The index continues to trade above key moving averages, and its RSI near 60 remains in bullish territory, though the long upper wick on recent daily candles points to selling at higher levels.

Global cues were broadly supportive, with Asian markets rising even as investors tracked developments around a possible US Iran deal on Hormuz and its implications for crude supply. Softer crude prices in recent sessions have helped sentiment, but traders stayed cautious ahead of US inflation data that could shape global rate expectations. Domestically, attention is turning to the July CPI and WPI prints and foreign exchange reserves data, which will provide fresh signals on inflation trends and external sector stability.

The session also set the stage for the Nifty index committee’s review, which could see Wipro move out of the Nifty 50 and BSE or TVS Motor emerge as potential replacements, as per the Nuvama report. In the Nifty Next 50, possible inclusions such as Vedanta Aluminium, Hitachi Energy, Vodafone Idea, Polycab and BHEL could replace Indian Hotels, REC, United Spirits, Shree Cement, Lodha Developers and Mazagon Dock, with associated passive flows projected into the new entrants. With Q1 FY27 earnings for heavyweights like HAL, Bharat Forge, Grasim Industries and Tata Motors still to come and key macro data due, traders are likely to watch whether the current consolidation near 24,560 on the Nifty resolves into a fresh leg higher or a deeper pullback.