Nifty trades below 23,900 level; IT shares rally

The headline equity benchmarks traded with substantial gains on Monday, snapping a five-session losing streak, as positive global cues boosted investor sentiment. Easing tensions in West Asia led to a sharp decline in crude oil prices, improving risk appetite across global markets. The Nifty traded above the 23,900 level. IT shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 516.23 points or 0.68% to 76,576. The Nifty 50 index advanced 146.65 points or 0.62% to 23,913.45.

In the broader market, the BSE 150 MidCap Index surged 1.09% and the BSE 250 SmallCap Index rallied 1.06%.

The market breadth was strong. On the BSE, 2,652 shares rose and 1,167 shares fell. A total of 250 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 5.34% to 13.28.

Earnings To Watch:

Aeroflex Industries, Aurionpro Solutions, Balaji Amines, Bharat Electronics, Canara Bank, CCL Products (India), Capri Global Capital, Coal India, Coforge, Epigral, Gallantt Ispat, Godfrey Phillips India, Gravita India, Happiest Minds Technologies, Home First Finance Company India, Housing & Urban Development Corporation, Indus Towers, JK Paper, Mold-Tek Packaging, NESCO, Northern Arc Capital, P N Gadgil Jewellers, R R Kabel, Sagar Cements, Supreme Petrochem, Sumitomo Chemical India, Tata Chemicals, Tata Power Company, Tejas Networks, Tilaknagar Industries, Tamilnad Mercantile Bank and Usha Martin will declare their Q1 results later today.

Buzzing Index:

The Nifty IT index climbed 2.45% to 29,472.30. The index soared 3.28% in the two consecutive trading sessions.

Oracle Financial Services Software (up 3.17%), Infosys (up 2.9%), Mphasis (up 2.81%), Coforge (up 2.78%), Tech Mahindra (up 2.25%), HCL Technologies (up 2.03%), Tata Consultancy Services (up 2.01%), LTM (up 1.82%) and Persistent Systems (up 1.53%) advanced.

Stocks in Spotlight:

Zen Technologies declined 5.20% to Rs 1678.80 after the company reported a 27.83% year-on-year (YoY) tumble in consolidated net profit to Rs 34.46 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 47.75 crore in Q1 FY26. Revenue from operations fell 10.48% YoY to Rs 141.63 crore in the quarter ended 30th June 2026.

Waaree Renewable Technologies shed 0.32%. The company has secured two letters of award from one of India?s leading renewable energy companies for the execution of Engineering, Procurement and Construction (EPC) works for two ground-mounted Solar PV projects.

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