Sensex today | Stock Market Live: Sensex soars 500 pts at open, Nifty reaches 24,500 as crude oil slumps to $81 on Iran deal optimism

Sensex opened 788.7 pts higher at 78,883.34 on Monday against the previous close of 78,094.64 and at 9.16 am, it traded 543.52 pts or 0.70% higher at 78,638.16. Nifty 50 traded 168.45 pts or 0.69% positive at 24,552.05 after opening at 24,572.70 compared to the previous close of 24,383.60.

Brent for October fell as much as 7.3% to $81.55 a barrel after Trump said he’d agreed to call off a massive attack on Iran as allies in the Middle East, including Saudi Arabia, asked him to pursue a deal instead.

Equity markets are expected to remain focused on the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting, the ongoing Q1 FY27 earnings season and global developments in the coming week, with investors closely tracking management commentary, macroeconomic data and geopolitical events for market direction. Meanwhile, experts said though RBI may hold rate in its August 3-5 meeting, the focus will be more on its outlook comments.

Top losers: Sun Pharma (-1.88%), Cipla (-0.54%), Apollo Hospitals (-0.47%), Bajaj Auto (-0.36%)

Sensex opened 788.7 pts higher at 78,883.34 on Monday against the previous close of 78,094.64 and at 9.16 am, it traded 543.52 pts or 0.70% higher at 78,638.16.

Nifty 50 traded 168.45 pts or 0.69% positive at 24,552.05 after opening at 24,572.70 compared to the previous close of 24,383.60.

• GAIL is increasingly leveraged to LNG imports into China and Europe, with potential upside from a U.S. natural gas glut expected in 2027

• European gas inventories are near three-year lows, while U.S. LNG export capacity is ramping up more slowly than expected

“Nifty is expected to open sharply higher around 24,550, up nearly 170 points, supported by easing geopolitical tensions and a decline in crude oil prices, both of which have improved global risk sentiment.

The reduction in war-related concerns and softer crude prices are positive for India, as they ease inflationary pressure and improve the outlook for corporate earnings.

Technically, the index remains in a strong uptrend. 24,400–24,300 will act as the immediate support zone, while 24,700–24,800 is the next key resistance area. A decisive move above 24,800 could trigger fresh momentum and extend the rally towards higher levels.

The overall market structure remains bullish, and traders may consider a buy-on-dips strategy as long as Nifty continues to hold above the 24,300–24,400 support zone. Momentum remains with the bulls, and sustained buying could lead to a breakout above the immediate resistance.”