Stock Market Today: Sensex Gains 100 Points, Nifty Above 24,590

 Indian markets open higher as investors track inflation, crude prices, FPI flows and Q1 earnings.

Indian stock markets made a positive start on Monday as benchmark indices recorded gains in early trade, as investors analyzed domestic economic fundamentals, global factors, crude oil prices, and earnings.

The Sensex rallied by more than 100 points, while the NSE Nifty50 index traded above the 24,590 mark.

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The Sensex climbed by 103.09 points, or 0.13%, to trade at 78,602.26, while the Nifty50 rose by 26.45 points, or 0.11%, to 24,597 in early trade.

Market sentiments were moderately positive after benchmark indices closed the previous week higher despite volatility.

Gift Nifty Indicates Positive Start

Before the market opened, Gift Nifty was quoted around 24,666, up by about 25 points, indicating a positive start for the domestic equity market.

As per the market analysis provided, global cues were positive as geopolitical concerns had moderated and crude prices had eased; however, investors remained cautiously optimistic ahead of critical US inflation data.

Nifty 50 last closed below 24,600 at 24,570.65, which was 65.35 points lower than the previous session, translating to a 0.27 percent fall. The index could not hold itself above the important resistance of 24,600 due to sell-offs in the market.

On a technical note, the index remained above important moving averages, whereas the relative strength index (RSI) of the index came out to be 59.89.

Top Gainers in Sensex Today

There were several stocks that saw higher prices today in the opening trades of the market. Titan became the best performer amongst all the stocks in Sensex with an increase of 2.57 percent to Rs 5,069.85.

Other significant gainers include:

Infosys: +1.67%

Tata Steel: +1.52%

HCL Technologies: +1.39%

Tech Mahindra: +0.86%

Trent: +0.75%

TCS: +0.75%

HDFC Bank: +0.61%

Bajaj Finserv:+0.37%

Inflation Figures Under Watch

There are expectations among investors on the domestic economic data to be released in the coming weeks, especially the July CPI inflation, WPI inflation and foreign exchange reserves.

CPI measures retail price pressure, while WPI reflects movement in wholesale prices. The above-mentioned data may affect expectations regarding India's economy and monetary policy.

Apart from comparing domestic inflation with global inflation figures, especially that of the US which is scheduled for release in the coming weeks, investors would also try to get an idea about the likely direction of interest rates and foreign funds flows.

Q1 FY27 Earnings May Drive Sector-Specific Action

The earnings season has started off well, with corporates like HAL, Bharat Forge, Grasim Industries and Tata Motors releasing their Q1 FY27 earnings.

The corporate performance will continue to play an important role in the market movement, especially in terms of revenue growth, earnings, margins and outlooks.

FPIs Still Back Indian Stocks

Foreign Portfolio Investors (FPIs) were supportive of the Indian stock market in the first week of August, with the total investment amounting to around Rs 12,921 crore.

Foreign Institutional Investors' (FIIs') movement is significant since they impact the market liquidity as well as market sentiment, especially when it comes to large-cap stocks. Yet, flows from foreign countries may be subject to change swiftly depending on interest rate expectations abroad, currency movements, geopolitics, and valuations.

Thus, FPIs' sustainable inflows will continue to remain an important consideration for the Indian stock market.

Brent Crude and Strait of Hormuz Uncertainties Still Pose Risks

Another factor that affects Indian markets is the price of crude oil. The international benchmark crude oil increased by 1.32% to $84.65 per barrel, while WTI increased by 1.04% to $78.99 per barrel.

The price of oil is susceptible to concerns about the resumption of the flow through the Strait of Hormuz, one of the most important shipping lanes for oil trade in the world. Any news involving Iran and Oman is being watched closely by investors.

Rising prices of oil can impact India's import bill and add to inflationary pressures.

Outlook for the Market

The Indian stock market would probably continue to react to a mixture of local and international variables during the next few sessions. The numbers related to inflation, corporate earnings, foreign portfolio investments, oil prices, and geopolitics would still be major drivers.

The positive beginning of the Sensex and Nifty gives reason to hope, although the 24,600 resistance level of Nifty would still be monitored by many.

As the earnings season heats up and various important economic data becomes available, high market volatility could be expected. Investors would be keeping an eye on developments on both international and company levels.