Sensex jumps 614 pts; PSU bank shares advance
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 613.88 points or 0.79% to 78,708.52. The Nifty 50 index rose 200.25 points or 0.82% to 24,584.05.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.87% and the BSE 250 SmallCap Index rose 1.38%.
The market breadth was strong. On the BSE, 2,948 shares rose and 1,138 shares fell. A total of 227 shares were unchanged.
CAS begins for F&O stocks:
Effective 3 August 2026, the Closing Auction Session (CAS) has been introduced for stocks in the F&O segment, revising market closing timings while keeping the opening time unchanged. Continuous trading in F&O stocks will now end at 3:15 pm, followed by the closing auction session, while non-F&O stocks will continue to trade until 3:30 pm. Trading in index and stock futures and options will conclude at 3:40 pm. The new mechanism is aimed at enhancing price discovery for the official closing price, reducing end-of-day volatility, and facilitating transparent execution of large institutional orders.
RBI MPC meeting kicks off today:
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) begins its three-day meeting today amid rising global inflationary pressures, elevated crude oil prices and a growing number of central banks that have tightened monetary policy in recent months. The MPC will meet from 3 to 5 August 2026, with RBI Governor Sanjay Malhotra scheduled to announce the policy decision on 5 August 2026.
Initial Public Offer (IPO):
MV Electrosystems received bids for 20,58,37,292 shares as against 39,87,491 shares on offer, according to stock exchange data at 11:28 IST on Monday (3 August 2026). The issue was subscribed 51.62 times.
The issue opened for bidding on 30 July 2026 and it will close on 3 August 2026. The price band of the IPO is fixed between Rs 400 and 425 per share. An investor can bid for a minimum of 34 equity shares and multiples thereof.
Juniper Green Energy received bids for 7,53,91,404 shares as against 5,89,16,709 shares on offer, according to stock exchange data at 11.28 IST on Monday (3 August 2026). The issue was subscribed 1.28 times.
The issue opened for bidding on 30 July 2026 and it will close on 3 August 2026. The price band of the IPO is fixed between Rs 214 and 225 per share. An investor can bid for a minimum of 66 equity shares and multiples thereof.
Buzzing Index:
The Nifty PSU Bank index rose 1.84% to 8,520.95. The index jumped 2.77% in the four trading sessions.
Punjab & Sind Bank (up 2.67%), Bank of India (up 2.16%), Bank of Baroda (up 2.04%), State Bank of India (up 2.01%) and Union Bank of India (up 1.99%), Canara Bank (up 1.83%), Central Bank of India (up 1.78%), Indian Bank (up 1.67%), Indian Overseas Bank (up 1.53%) and UCO Bank (up 1.3%) rose.
Stocks in Spotlight:
HBL Engineering added 2.26% after it has received a contract worth Rs 31.49 crore from the Integral Coach Factory (ICF), Chennai, for the supply, installation, testing and commissioning of On-board Kavach loco equipment (Version 4.0).
Urban Company rose 12.50% after reporting strong business growth in Q1 FY27, with revenue increasing sharply and losses narrowing on a sequential basis.
The company reported a consolidated net loss of Rs 92.12 crore in Q1 FY27, compared with a net profit of Rs 6.94 crore in Q1 FY26. Sequentially, the loss narrowed from Rs 161.16 crore in Q4 FY26. Revenue from operations increased 43.8% YoY and 24.1% QoQ to Rs 528.34 crore in the quarter ended 30 June 2026.
Global Markets:
Asian markets traded mixed on Monday as investors awaited the July jobs report and another busy week of earnings to kick off August trading.
Oil prices fell after President Donald Trump said earlier Sunday he cancelled a planned attack on Iran. U.S. media reports on Friday said the president was gearing up for a new wave of strikes as hopes for a negotiated settlement to the war diminished and energy prices surged.
Brent crude futures slipped $3.52 to $84.41, while U.S. West Texas Intermediate crude slid $3.49 to $81.18 a barrel.
Last week on Wall Street, the three major indexes closed higher on Friday, with the Dow advancing 276.97 points, or about 0.53%, to 52,485.03. The S&P 500 closed up 0.7% at 7,489.72, and the Nasdaq Composite surged 1% to 25,373.85.
While Big Tech companies largely delivered on earnings, investors are becoming less willing to overlook mounting AI-related spending without clearer evidence of earnings growth, media reports stated.
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