Sensex, Nifty Trade Flat as Midcaps Outperform; Realty and IT Lead Gains

Indian equities remained rangebound with a mild positive bias in Monday’s late-morning trade, with gains in IT, realty and select auto stocks offset by weakness in Banks and FMCG counters. The BSE Sensex was at 78,605.08, up 105.91 points or 0.13 per cent, while the Nifty 50 traded at 24,597.05, higher by 26.40 points or 0.11 per cent. The Nifty moved within an Intraday range of 24,511.10 to 24,620.95.

The broader market showed better strength than the frontline indices. The Nifty Midcap 100 climbed 0.72 per cent to 63,918.60, with 55 of its 100 constituents trading higher. The Nifty Smallcap 100 was up around 0.17 per cent at 19,900.85 around 11:34 am. Banks remained under pressure, with the Nifty Bank slipping 0.09 per cent to 57,696.65, as 10 of its 14 constituents traded in the red.

Nifty Realty emerged as the strongest sectoral index, rising 1.44 per cent, with all 10 constituents advancing. Nifty IT gained 0.98 per cent, while Nifty Auto rose 0.57 per cent. Softer US employment data and reduced expectations of an immediate US rate hike supported sentiment around technology stocks. On the other side, Nifty PSU Bank fell 0.59 per cent, while Nifty FMCG declined 0.25 per cent.

Hitachi Energy India surged 10.20 per cent to Rs 35,925, becoming one of the strongest midcap performers. Its Q1 FY27 revenue grew 68.6 per cent year-on-year, while orders increased 26.1 per cent and the order backlog touched a record Rs 32,222.1 crore.

Paytm jumped 8.36 per cent to Rs 1,562 after a fresh analyst target-price upgrade above its IPO price strengthened sentiment around the fintech stock.

Sky Gold and Diamonds rallied 9.53 per cent to Rs 787.80 after Q1 FY27 net profit jumped 141 per cent year-on-year and revenue increased 78 per cent. In contrast, Ola Electric fell as much as 6 per cent to Rs 38.58 in early trade after revenue from operations declined 45 per cent year-on-year, despite its quarterly loss narrowing to Rs 336 crore.

For the latest completed session on Friday, August 7, FIIs were net buyers of Rs 480.24 crore, while DIIs bought equities worth Rs 235.56 crore on a net basis. Provisional institutional activity for August 10 will be available after the market closes.

Asian markets traded mostly higher after Wall Street closed at record highs following softer US jobs data. Japan’s Nikkei gained 2 per cent and South Korea’s Kospi rose 0.8 per cent. However, crude remained a concern for India, with Brent rising 0.6 per cent to USD 84.04 per barrel amid uncertainty over shipping through the Strait of Hormuz.

For the rest of the session, the Nifty’s 24,500-24,510 zone remains the immediate support area, while the intraday high near 24,621 is the first hurdle. Investors will also track Q1 earnings, crude oil movements and the US July CPI data due Wednesday, which could reshape expectations around the Federal Reserve’s September policy decision.

Market levels can change quickly during the session, so the moves above should be viewed as a snapshot rather than a trading call.

Disclaimer: The article is for informational purposes only and not investment advice.