Sensex, Nifty trade near flat line; European mrkt decline

The key equity benchmarks traded with minor gains in 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.

Realty, consumer durables and IT shares advanced while PSU Bank, oil & gas and pharma shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex advanced 50.96 points or 0.06% to 78,547.81. The Nifty 50 index rose 19.75 points or 0.08% to 24,590.70.

The broader market outperformed. The BSE 150 MidCap Index rose 0.26% and the BSE 250 SmallCap Index jumped 0.28%.

The market breadth was positive. On the BSE, 2,345 shares rose and 1,728 shares fell. A total of 262 shares were unchanged.

Gainers & Losers:

Titan Company (up 2.72%), Grasim Industries (up 2.34%), Tata Steel (up 2%), Tata Consumer Products (up 1.47%) and Shriram Finance (up 1.35%) were the top gainers.

State Bank of India (SBI) (down 1.86%), NTPC (down 1.23%), ITC (down 1.14%), Wipro (down 1.08%) and Hindalco Industries (down 0.94%) were the top losers.

Stocks in Spotlight:

Power Mech Projects dropped 5% after the company reported a 44.0% decline in consolidated net profit to Rs 79.78 crore in Q1 FY27, compared with Rs 142.55 crore in Q4 FY26. Net sales increased 25.53% YoY to Rs 1,623.68 crore in the quarter ended 30 June 2026.

Sky Gold and diamonds rallied 8.10% after after the company reported a sharp improvement in profitability for the quarter ended 30 June 2026. The company?s consolidated net profit surged 136.94% to Rs 103.28 crore in Q1 FY27 compared with Rs 43.59 crore in Q1 FY26. Revenue from operations increased 77.93% YoY to Rs 2,012.79 crore in the quarter ended 30th June 2026.

Oil India rallied 3.39% 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 fell 2.20% 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.

Titan Company added 2.72% after the company?s consolidated profit after tax (PAT) increased 62.9% YoY to Rs 1,777 crore in Q1 FY27. Total income rose 29.3% YoY to Rs 21,502 crore during the quarter.

Global Markets:

European market declined as escalating US-Iran tensions over the Strait of Hormuz blockade weighed on investor risk appetite.

Asian markets mostly advanced on Monday after a soft U.S. jobs report pared the risk of a near-term rise in borrowing costs, though a lack of progress in Gulf peace talks saw oil prices creep higher.

Iran said on Sunday that a deal with Oman defining new shipping lanes in the Strait of Hormuz was in its final stages but reiterated that the waterway would only reopen once the United States met other conditions.

Brent crude rises as shipping through the vital waterway remained at a trickle, while U.S. crude rose 0.79% to $78.80 a barrel.

Meanwhile, the Bank of Japan policy makers have warned of mounting inflation risks that could require a nimble, faster-than-expected pace of interest rate increases, a summary of opinions at their July meeting showed, boosting the case for a September hike.

Last week, U.S. stocks advanced on Friday, with the S&P closing at a record high to cap off a strong week of gains for the major indexes, after data showed the U.S. economy unexpectedly shed jobs last month and dampened expectations the Federal Reserve would raise interest rates at its September meeting.

The Dow Jones Industrial Average rose 151.83 points, or 0.28%, to 54,036.93, the S&P 500 gained 47.68 points, or 0.62%, to 7,757.64 and the Nasdaq Composite gained 342.26 points, or 1.30%, to 26,690.62.

The Labor Department said nonfarm payrolls decreased by 23,000 jobs last month, well below the widely reported estimate that called for an increase of 80,000 jobs. Previously reported job gains for the prior two months were also revised sharply lower, while the unemployment rate fell to 4.1% last month from 4.2% in June due to workers leaving the labor force.

Market expectations for a rate hike from the Fed at its next meeting dropped to about 44%, according to CME FedWatch down from 55% in the prior session and 67% ⁠a week ago.

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