Sensex and Nifty started the day in the downtrend with the market starting at 77274.78 and within minutes falling to 76210.21 which marked the low of the market on 28th July 2026. However, with time the market started to get on its foot. Today Market News were focused mainly on IT sector.
In the initial stage, the market dropped around 0.16 percent and similarly NIFTY fell by almost 0.14 percent. However, as market gained momentum, it reached almost 0.10 percent in green zone which was almost 76963.
As market reached low, there were buying in particular sections of market, which impacted the overall movement of the market.
Following of the factors were the main influence for the movement in today market:
Buying in IT Stocks
Today, there was strong buying interest were visible in IT shares that build up the momentum in market. This momentum resulted in Nifty IT Index rising to 3 percent, which was contrasting to the Asian Technology Index. In major Asian market, there is concerns over funding requirement which has resulted in Sell-offs. Indian IT companies are not facing such sell-off as there is rarely any IT company that can be considered as Pure-play AI companies.
One of the main reason behind the uptrend is recent updates from Jefferies, where it upgraded the IT sector from “Neutral” to “Underweight”.
Lower Crude Oil Prices
Prices of Brent crude oil has been declining over the past two days. If we consider the overall decline, Crude oil has declined by 8.7 percent and crude oil declined by 1.2 percent to around $87.3 per barrel. The fall in crude price was preceded by statement from US President Donald Trump that Washington was holding “Good talks” with Iran and a resolution was possible in coming days.
Latest news is seen with optimism that the talks would allow return of normalcy in the Middle East region including proper movement of ships through the Strait of Hormuz.
Fed Rates Optimism
Global Financial Houses are expecting the US Federal Reserve to hold their rates to stable rate. According to these Financial houses, there is very less chances of rate hike, although there might be chances of further tightening of rate depending on inflation rates. The aftermath of Iran war on US Fed Reserve rates is also highly anticipated.
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