Sensex Climbs 553 Points, Nifty Opens Above 24,550; Metals, Autos Lead Market Rally

Indian benchmark indices opened the week on a strong note on Monday, supported by easing crude oil prices, sustained foreign institutional investor (FII) buying and positive global cues, with metal, auto and IT stocks leading the rally.

At 9:16 am, the BSE Sensex was up 553 points, or 0.71%, at 78,648, while the NSE Nifty climbed 172 points, or 0.70%, to 24,555, reclaiming the 24,550 level in early trade. The rally was broad-based, with the Nifty Next 50 advancing 0.76%. The Nifty 100, Nifty 200 and Nifty 500 gained between 0.6% and 0.7%, while broader markets also traded firmly. The Nifty Midcap 100 rose 0.42% and the Nifty Smallcap 100 added 0.54%.

The India VIX, however, edged up 0.85% to 11.86, indicating slightly higher expectations of market volatility.

Metal, Auto and IT Stocks Outperform

Among sectoral indices, Nifty Metal topped the gainers with a 1.23% rise, followed by Nifty Auto (0.97%), Nifty IT (0.95%), Nifty Cement (0.90%) and Nifty PSU Bank (0.88%). Financials, FMCG and Oil & Gas stocks also traded in positive territory.

Nifty Media was the biggest laggard, falling 1.47%, while Nifty Consumer Durables slipped 0.25%.

On the Sensex, InterGlobe Aviation (IndiGo) gained more than 3%. Tata Steel, Bajaj Finance, ITC, TCS, Infosys, Mahindra & Mahindra, Larsen & Toubro and Asian Paints also posted solid gains. Sun Pharma and Titan were the only notable losers in early trade.

Bulls Retain the Upper Hand

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, said the market appears well positioned to sustain above the 24,500 mark.

“The decline in Brent crude below $84 per barrel, good progress of the monsoon in July and FIIs turning buyers are positive triggers for the market. Economic growth has remained resilient despite multiple headwinds, while the fiscal and monetary stimulus announced in 2025 is now supporting growth momentum,” he said.

He added that credit growth above 18%, healthy automobile sales and stronger-than-expected first-quarter corporate earnings suggest FY27 earnings could exceed initial expectations.

Vijayakumar also noted that steady inflows through FCNR(B), ECB and OFCB routes have helped stabilise the rupee, encouraging foreign investors to return to Indian equities.

• “In brief, it is advantage bulls,” he said.
• Crude Oil Slides, RBI Policy in Focus

Market sentiment was further boosted after Brent crude prices fell nearly 5% to a three-week low of $81.55 per barrel on hopes of easing tensions in the Middle East.

US President Donald Trump said talks with Iran were scheduled for Monday, raising expectations of a diplomatic breakthrough that could help reopen the Strait of Hormuz and ease concerns over global oil supplies. Lower crude prices are generally positive for India, which imports most of its crude oil requirements.

Investors are now awaiting the Reserve Bank of India’s monetary policy decision on August 5. The central bank is widely expected to keep interest rates unchanged as inflation remains relatively contained. Indian equities ended July with gains of more than 2%, marking their second consecutive month of advances, supported by resilient corporate earnings and sustained foreign inflows despite geopolitical uncertainties.

Elsewhere in Asia, markets were mixed. South Korean equities fell around 4%, Japan declined about 2%, while the Japanese yen strengthened after the US and Japan confirmed joint intervention to support the currency.