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• Equity benchmark Nifty surged nearly 1.6% to end at a fresh five-month high of around the 24,800 mark, supported by a sharp decline in crude oil prices, sustained FII buying, and encouraging quarterly earnings. Brent crude prices have corrected more than 7% to below USD 84 per barrel amid reports of renewed US-Iran peace talks scheduled to begin today and OPEC+'s decision to raise oil production, easing concerns over global energy supplies. • Domestic macroeconomic indicators also remained supportive. July GST collections crossed the Rs 2 lakh crore mark, the highest level in 14 months, highlighting strong economic activity. Robust July automobile sales, steady monsoon progress, and June's industrial production (IIP) growth reaching a 23-month high further reinforced confidence in the strength of the Indian economy.

• The Nifty advanced 390 points, or 1.6%, to close at 24,775 compared with the previous session. Market breadth remained firmly positive, with the Nifty 500 advance-decline ratio at 3:1, indicating broad-based participation across large-, mid-, and small-cap stocks.

• The Nifty IT Index emerged as the top sectoral performer, rising more than 2%, led by LTI Mindtree, which rallied 7.5%, while TCS, Infosys, Mphasis, and Coforge gained up to 4%. The Nifty Auto Index advanced over 0.5%, supported by strong quarterly earnings and robust monthly sales volumes. Ashok Leyland, Bajaj Auto, TTMV, Eicher Motors, and TVS Motor rose by as much as 5%.

• The Nifty Bank Index climbed nearly 1%, driven by gains in Axis Bank, Federal Bank, Bank of Baroda, and ICICI Bank.

• Global markets also remained upbeat. US index futures advanced more than 0.5%, while major European indices gained nearly 1% after crude oil prices fell sharply following US President Donald Trump's statement that fresh US-Iran talks would commence on Monday, raising optimism over a potential agreement to reopen the Strait of Hormuz and ease geopolitical tensions.

• PNGS Reva – Company says that it aims to maintain the strong growth momentum seen in Q1, supported by demand trends and expansion initiatives.

• Sun Pharma – Company says that recent product launches in the US have received a positive response, while revenue growth in the US and other global markets remains healthy. The company said its US generics business continues to face global headwinds, with pricing pressure in the segment likely to persist.

• NOCIL reported a consolidated net profit of Rs 27.8 crore in Q1, up 60.7% from Rs 17.3 crore in the year-ago period. Revenue increased 19.9% year-on-year to Rs 403 crore from Rs 336 crore. EBITDA rose 48.8% to Rs 45.2 crore from Rs 30.4 crore a year earlier. EBITDA margin expanded to 11.2% from 9% in the corresponding quarter last year, indicating improved operating profitability.

• Escorts Kubota reported a consolidated net profit of Rs 386 crore in Q1, down 72.4% from Rs 1,397 crore in the year-ago period. The sharp decline was largely due to a high base, as Q1 FY26 included profit from discontinued operations of Rs 1,028 crore and a one-time gain of Rs 76 crore. Revenue increased 28.3% year-on-year to Rs 3,208 crore from Rs 2,500 crore. EBITDA rose 10.4% to Rs 355 crore from Rs 322 crore a year earlier. EBITDA margin contracted to 11.1% from 12.9% in the corresponding quarter last year.

Global Market Update

• European Market – European market gain as oil plunged after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides will reach a deal to reopen the Strait of Hormuz. UK, Germany and France Index gained up to 1%.

• Asian Market – Asian stocks fell at the start of a new month, with South Korea’s heavyweight chipmakers sliding again after a dizzying rally on Friday. Both Japan Index and South Korea Index declined 1% and 5% respectively

• US Data – PMI Data. • Commodity – Oil prices fell sharply by 5% to $83/bbl in Monday trading after US President Donald Trump postponed a new military strike on Iran in a bid to reach an agreement that would ensure the reopening of the Strait of Hormuz to maritime traffic.

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