Business News | Sensex Up 550 Pts, Nifty Gains 166 as Indian Markets Start Week in Green
Get latest articles and stories on Business at LatestLY. Indian markets open in green on Monday morning, with BSE Sensex rising 549.21 points or 0.72 per cent to stand at 76,608.98 points, while the NSE Nifty 50 advanced 166.85 points or 0.70 per cent to reach 23,934.30 points.
New Delhi [India], July 27 (ANI): Indian markets open in green on Monday morning, with BSE Sensex rising 549.21 points or 0.72 per cent to stand at 76,608.98 points, while the NSE Nifty 50 advanced 166.85 points or 0.70 per cent to reach 23,934.30 points.
Highlighting the first quarter of FY27, Vikram Kasat, Head Advisory at PL Capital, noted, "Over 300 companies with a market cap above 1000 Cr have reported Q1FY27 results, and the earnings trend remains encouraging."
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"Despite concerns over higher energy costs, margin compression has not materialised, while revenue growth continues in the mid-teens. This resilience in corporate earnings is a key reason why the broader market has remained firm, unlike the sharp correction seen in March 2026," Kasat added.
Border Asian markets also mostly traded higher in early sessions. GIFT Nifty stood at 23,942.00, up 0.48 per cent, while Japan's Nikkei 225 gained 0.40 per cent to 64,870.00. The Hang Seng index rose 0.87 per cent to 25,183.00, and the Shanghai Composite advanced 0.40 per cent to 3,829.39.
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On the other hand, the Taiwan Weighted index fell 0.98 per cent to 43,232.88, and South Korea's KOSPI slipped 0.50 per cent to 6,657.15.
In Western markets, Dow Jones Futures traded higher by 289.60 points or 0.56 per cent at 52,236.85. The S&P 500 stood marginally higher at 7,411.98, up 3.68 points or 0.05 per cent, while the Nasdaq declined 161.87 points or 0.64 per cent to 24,975.82.
At the time of reporting, Brent Crude dropped 5.88 per cent to USD 92.60 per barrel, and Crude Oil fell 5.93 per cent to USD 85.10 per barrel. Gold prices rose 0.91 per cent to USD 4,089.06.
The Indian rupee strengthened against the US dollar following news of higher FCNR(B) deposits. At the time of reporting, the rupee was trading at 96.21 per US dollar, appreciating by 35 paise.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, believes the short-term market structure remains weak.
"On the downside, the market could retest the 23,600-23,550 (75,400-75,200 on the Sensex) zone. A decisive breach below these levels may accelerate selling pressure and drag the indices towards 23,300 (74,400 on the Sensex). We expect the Nifty to remain within a 23,500-24,300 trading range during the week," Chouhan stated.
"Conversely, if the market manages to move above 23,850 (76,200 on the Sensex), a pullback towards 24,000-24,100 (76,700-77,000 on the Sensex) is likely," he noted.
Chouhan also advised using any pullback towards the 24,000-24,100 zone to reduce weak long positions. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)