Mumbai, Aug 3: Indian benchmark equity indices extended their upward momentum for the fourth consecutive session, supported by falling crude oil prices, positive investor sentiment, and strong buying across key sectors.
The Sensex gained 544.39 points, or 0.7 per cent, to close at 78,639.03, while the Nifty advanced 391 points, or 1.6 per cent, to settle at 24,774.30, reflecting renewed confidence among market participants.
The decline in crude oil prices provided a major boost to market sentiment as lower energy costs can help ease inflationary pressures and support economic stability in an oil-importing country like India.
The rally was supported by strong performance in heavyweight stocks, with InterGlobe Aviation, Infosys, and Tata Consultancy Services among the leading gainers on the Nifty index. Information technology stocks played a key role in lifting the broader market, supported by renewed buying interest.
The positive momentum also spread across broader market segments, with the Nifty MidCap index rising 1.21 per cent and the Nifty SmallCap index gaining 1.29 per cent, indicating healthy participation from investors.
Among sectoral indices, IT, FMCG, and PSU banking stocks recorded notable gains, while the media sector remained the only major laggard during the session.
Market experts said the latest rally reflects improving confidence amid encouraging corporate earnings trends and expectations of continued economic growth. Stronger-than-expected performance by several companies, particularly in the small-cap segment, has further supported investor optimism.
Investors are now closely tracking upcoming policy developments, including the Reserve Bank of India’s monetary policy meeting, for insights into inflation trends, liquidity conditions, and the future interest rate outlook.
The four-session winning run highlights the resilience of Indian equities amid global uncertainties. Supported by domestic demand, improving earnings, and stable economic fundamentals, markets continue to maintain a positive long-term outlook.