Indian equities snapped higher on Monday as a near-5% crash in crude oil — after US President Donald Trump dropped a plan to strike Iran and flagged talks with Tehran — lifted a market that had spent last week on the back foot, though gains were capped by caution ahead of Wednesday's RBI rate verdict.

How India closed

Near the close, as reported by Business Standard, the Nifty 50 was around 24,573, up roughly 190 points (+0.78%), and the Sensex near 78,677, up about 582 points (+0.75%) — both rebounding from Friday's close of 24,383.60 and 78,094.64. The broader market outran the benchmarks: the Nifty Midcap was up ~0.89% and the Nifty Smallcap ~1.35%, while Bank Nifty firmed ~0.82% to around 57,700.

Sectors & movers

The move was broad and risk-on. Nifty Metal led the pack (about +1.2%), with IT and financials also firm as falling oil eased input-cost and inflation worries. Top Nifty gainers included InterGlobe Aviation (IndiGo) — an obvious winner from cheaper jet fuel — alongside Shriram Finance and Infosys. On the softer side early, Sun Pharma, Maruti and Titan lagged.

Flows

Today's provisional FII/DII figures were still awaited at the time of writing. In the previous session (Jul 31), per India TV News, FIIs net bought ~₹277 crore and DIIs ~₹2,260 crore — a domestically supported tape.

Currency & commodities

• Crude did the heavy lifting: Brent slid ~5% to around $84 and WTI to roughly $80 as Iran-strike fears receded (CNBC, Business Standard).
• Rupee firmed, opening ~25 paise stronger near 95.14/$ versus Friday's 95.39 (Business Standard).
• Gold held its bid near $4,060–4,070/oz, up ~0.5% (Trading Economics).

Global now

Europe opened mostly firmer — DAX +~1.2%, CAC +~1%, though the FTSE was flat-to-lower. US futures pointed up (Dow +~0.45%, S&P 500 +~0.50%, Nasdaq +~0.77%) on the same oil-relief trade. Asia closed mostly lower — Japan's Nikkei off ~1% and South Korea's Kospi the biggest decliner.

Economic data

India's headline print today was soft: the S&P Global HSBC India Manufacturing PMI for July slipped to 53.5 (from 54.2 in June) — still expansion, but the weakest reading since August 2021, on cooler new orders and the slowest hiring in 29 months (Reuters via Finimize). July GST collections came in strong at ~₹2.11 trillion (+15.4% YoY). All eyes now turn to the RBI MPC, whose three-day meeting began today with the decision due Wednesday, Aug 5 — most economists expect the repo rate held at 5.25%.

Globally, the week is data-heavy: US ISM Manufacturing PMI lands tonight, JOLTS job openings Tuesday, ISM Services Wednesday, and the marquee US July jobs report (nonfarm payrolls) on Friday.

What to watch

The oil-relief bounce is real but headline-fragile: watch whether Brent holds its lower range or whips back on any Strait of Hormuz twist, since Iran has publicly disputed a reopening deal. Domestically, Wednesday's RBI tone (and any language on growth after the soft PMI) is the next catalyst, while Friday's US payrolls will set the risk backdrop for next week.

As of ~4:00 PM IST, Aug 3, 2026. Figures as reported by the cited news sources — attributed journalism, not a live quote feed; verify before acting. Sources: Business Standard, India TV News, CNBC, Finimize/Reuters, Trading Economics, OrissaPost. Automated market wrap for discussion and education only — not investment advice.