Sensex gains 131 pts; IT shares extent gains for 2nd day

The domestic equity benchmarks traded with moderate gains in early afternoon trade as investors evaluating Q1 FY27 earnings released over the weekend. However, market sentiment remained cautious following the introduction of the Closing Auction Session (CAS) mechanism last week, which had led to heightened volatility during the final minutes of trading.

Market participants continued to closely monitor developments surrounding the US-Iran conflict and the progress of the monsoon. Persistent geopolitical uncertainty, along with its potential impact on crude oil prices, kept investors cautious and limited the upside in the broader market.

Investors are also expected to track domestic inflation data, movements in crude oil prices and other global geopolitical developments for further market direction. Sector- and stock-specific activity is likely to remain driven by the ongoing earnings season.

The Nifty traded near the 24,600 mark. IT shares extended gains for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex advanced 130.94 points or 0.17% to 78,630.11. The Nifty 50 index rose 42.35 points or 0.17% to 24,613.

The broader market outperformed. The BSE 150 MidCap Index rose 0.25% and the BSE 250 SmallCap Index jumped 0.35%.

The market breadth was positive. On the BSE, 2,297 shares rose and 1,919 shares fell. A total of 243 shares were unchanged.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.57% to 12.47. The Nifty 25 August 2026 futures were trading at 24,695 at a premium of 82 points as compared with the spot at 24,613.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 211.9 lakh contracts at the 24,600 strike price. Maximum put OI of 270.8 lakh contracts was seen at a 24,600 strike price.

Buzzing Index:

The Nifty IT index rose 0.58% to 31,729.10. The index rallied 2% in two consecutive trading sessions.

LTM (up 2.83%), Coforge (up 1.60%), Mphasis (up 1.34%), Tech Mahindra (up 0.76%), Infosys (up 0.75%), Persistent Systems (up 0.37%) and HCL Technologies (up 0.30%) advanced.

On the other hand, Oracle Financial Services Software (down 0.91%), Wipro (down 0.6%) and Tata Consultancy Services (down 0.29%) edged lower.

Stocks in Spotlight:

Oil India rallied 3.28% after the company?s standalone net profit soared 252.83% YoY to Rs 2,870.21 crore in Q1 FY27, supported by higher crude oil production and improved crude oil price realization. Revenue from operations jumped 58.77% YoY to Rs 7,958.05 crore in Q1 FY27.

Kaynes Technology India slipped 2.58% after the company reported a 24.37% decline in consolidated net profit to Rs 56.43 crore in Q1 FY27 compared with Rs 74.61 crore posted in Q1 FY26. Revenue from operations jumped 40.47% YoY to Rs 946.02 crore in Q1 FY27.

Atul Auto dropped 9.24% after the company reported a 56.11% decline in consolidated net profit to Rs 8.04 crore in Q1 FY27, compared with Rs 18.32 crore in Q4 FY26. Total revenue from operations declined 9.20% QoQ to Rs 218.43 crore in the quarter ended 30 June 2026.

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