At 9:44 am, the BSE Sensex was up 54 points, or 0.07%, at 79,912, while the Nifty50 gained 15 points, or 0.06%, to trade at 24,378.
From the Sensex pack, SBI, NTPC, Trent, HDFC Bank, and Tata Motors opened with gains, while Asian Paints, ICICI Bank, Bajaj Finserv, Axis Bank, and HUL traded lower.
SBI emerged as the top Sensex gainer, rising 1.5% in early trade after the country’s largest lender posted a 12% year-on-year (YoY) increase in standalone net profit for the June quarter (Q1FY26). Following the results, several brokerage firms raised their target price for the stock to as high as Rs 955.
Among individual stocks, Voltas fell 8% after the air conditioning manufacturer missed first-quarter profit estimates by a wide margin, as early monsoons dampened demand for residential cooling products.
On the sectoral front, the Nifty Consumer Durables index declined 1.6%, dragged down by PG Electroplast, which hit a 10% lower circuit in early trade. Meanwhile, the Nifty PSU Bank index surged 1.5%, led by SBI, Indian Bank, and Bank of India.Last week, the Nifty and Sensex each fell nearly 1%, marking their longest weekly losing streak in five years, as U.S. tariff concerns and muted earnings dampened sentiment.U.S. President Donald Trump has imposed a 50% tariff on Indian goods, with half already in effect and an additional 25%—a punitive measure for India’s purchase of Russian oil—set to take effect on August 28.
Investors are now eyeing the August 15 meeting between Trump and Russian President Vladimir Putin in Alaska, where they are expected to discuss a potential resolution to the war in Ukraine.
Experts View
“Geopolitical developments will be influencing the market trend this week more than other factors. The market will be focussed on the outcome of the Trump-Putin talks in Alaska. If the talks result in an end to the Russia-Ukraine war, that would be a major positive development. US sanctions on Russia may be withdrawn and consequently the penal tariff of 25% imposed on India for buying oil from Russia also may be reconsidered. If this happens the oversold market will stage a smart rebound. Investors will have to wait and watch for the developments,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit.
Hardik Matalia, Derivative Analyst at Choice Broking, said, “Nifty can find support at 24,300 followed by 24,200 and 24,000. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,700.”