Sensex and Nifty News: Markets Rebound, Sensex Surges Nearly 750 Points, Nifty Ends Above 24,550

Indian equity markets staged a sharp rebound on Sunday, breaking a six-week losing streak. The Sensex reclaimed the 80,000 mark, rising nearly 750 points, while the Nifty ended above 24,550, signalling renewed investor confidence.

Market Performance

• Sensex: Closed at 80,604.08, up 746.29 points or 0.93%
• Nifty: Ended at 24,585.05, gaining 221.75 points or 0.91%
• Market Breadth: 2,136 stocks advanced, 1,867 declined, and 161 remained unchanged

Main News: Five Key Reasons Behind Market Rally

1. Value Buying Returns

After six consecutive weeks of declines, investors stepped in to buy undervalued stocks. This came after steep tariffs imposed by the US on Indian goods weighed on sentiment earlier.

• US Tariffs: 50% on Indian goods, half already effective; an additional 25% to be implemented from August 28 for Russian oil imports.

2. Positive Global Cues

Global markets extended gains, buoyed by strong corporate earnings, especially in the tech sector.

• Japan: Stock market closed for a holiday, but futures climbed to 42,465, close to record highs.
• Wall Street: Dow Jones up 0.5%, S&P 500 up 0.75%, Nasdaq up 1% (record close for the second day in a row).
• Notable Movers: Apple rose over 4% Friday, up 13% for the week. Gilead Sciences gained 8% after raising its full-year outlook.

3. Gains in SBI and Grasim Industries

Corporate earnings played a major role in lifting market sentiment.

• Grasim Industries: Shares jumped 2.6% on strong earnings led by its chemicals business.
• SBI: Shares rose 2.2% after reporting a 12.5% YoY profit rise, driven by higher non-lending income.
• PSU Banks: Sector up nearly 4%.

4. Decline in Oil Prices

Falling crude prices provided relief to Indian markets.

• Brent Crude: Down 0.5% to $66.26 per barrel
• WTI Crude: Down 0.6% to $63.49 per barrel
• Declines follow expectations of easing sanctions on Russian oil supply amid upcoming US-Russia talks.

5. Robust AMFI Data

Mutual fund inflows into equities surged in July, indicating strong retail investor participation.

• Net Inflows: ₹42,672 crore in July, up 81% month-on-month
• Streak: 53rd consecutive month of positive inflows into equity funds

Company Details

• Grasim Industries: Strong Q2 results boost stock by 2.6%.
• SBI: Largest lender posts 12.5% profit growth YoY.
• Apple Inc.: Weekly gain of 13%, best since 2020.
• Gilead Sciences: Stock jumps 8% after financial guidance upgrade.

Summary

The Indian stock market rallied sharply on August 11, driven by value buying, upbeat global cues, strong corporate earnings, falling crude prices, and robust mutual fund inflows. The Sensex closed above 80,600, while the Nifty crossed 24,550, ending a prolonged losing streak.