Closing Bell: SENSEX NIFTY Today | Nifty settles above 24,700 as IT stocks rally; CAS rollout boosts late-session gains

3 Aug 2026 , 05:57 PM

Indian benchmark indices ended sharply higher on August 3, supported by broad-based buying, a strong rally in information technology stocks, easing crude oil prices, improving foreign institutional investor (FII) sentiment, and the rollout of the new Closing Auction Session (CAS) mechanism.

The BSE Sensex gained 544.39 points, or 0.70%, to close at 78,639.03, while the NSE Nifty 50 surged 390.70 points, or 1.60%, to settle at 24,774.30, reclaiming the 24,700 mark. The benchmark touched the psychologically important 24,800 level during the closing auction before ending just below it.

Market breadth remained firmly in favour of the bulls, with 2,358 stocks advancing, 1,027 declining, while 120 stocks remained unchanged, reflecting broad-based participation across sectors.

What lifted the markets today?

Investor sentiment remained upbeat after crude oil prices declined on expectations of renewed diplomatic dialogue between the United States and Iran, easing concerns over imported inflation and corporate margins.

Additionally, a rebound in FII inflows, coupled with a stronger Indian rupee, further supported domestic equities. Investors also positioned themselves ahead of the upcoming Reserve Bank of India (RBI) monetary policy meeting, where interest rates are widely expected to remain unchanged, while closely watching the central bank’s commentary on liquidity and inflation.

Another key factor behind today’s sharp late-session rally was the implementation of the Closing Auction Session (CAS) for F&O-linked securities.

Under the new framework, continuous trading now ends at 3:15 PM, followed by a 20-minute closing auction that determines the official closing price within a defined price band around the VWAP-based reference price. The concentration of institutional orders during this window resulted in a sharp surge in heavyweight Nifty constituents, pushing the index from around 24,589 to 24,774 in the final minutes of trade.

Nifty breaks out of four-month consolidation

Technically, the Nifty has staged a decisive breakout after nearly four months of consolidation.

The index not only crossed its previous swing high of 24,602, recorded on April 21, but also closed above it, signalling renewed bullish momentum. Momentum indicators continued to strengthen, with the Relative Strength Index (RSI) trending higher and the MACD crossing above its signal line.

However, the benchmark has now approached its 200-day moving average (200-DMA) near the 24,800 mark, which remains an important resistance level.

According to technical analysts, two scenarios could unfold from current levels:

• A sustained move above 24,800 could trigger fresh buying and extend the rally towards 25,000–25,350.
• Failure to cross the 200-DMA may result in profit booking, pulling the index back towards the 24,400 zone before the next leg higher.

Immediate resistance is seen around 24,920–24,950, while support is placed in the 24,630–24,600 region.

Bank Nifty extends gains

The Bank Nifty opened with a gap-up and extended gains to an intraday high of 57,853 before witnessing some profit booking.

Following the closing auction, the index ended 1.72% higher at 58,248, breaking above its five-day consolidation range.

Technical indicators also turned favourable, with the DI+ crossing above DI- on the ADX indicator, suggesting strengthening buying momentum.

Analysts expect resistance around 58,700–58,800, while a decisive breakout could push the index towards 59,200–59,500. Immediate support is placed between 57,700 and 57,800.

IT stocks lead sectoral rally

Sectoral performance remained largely positive.

The Nifty IT Index emerged as the biggest gainer, rising over 2%, driven by strong buying across frontline technology stocks. The Nifty Tourism Index also gained more than 2.5%.

Meanwhile, the Nifty Media and Nifty Pharma indices ended lower as investors booked profits after recent gains, particularly in pharmaceutical stocks following quarterly earnings announcements.

The broader market also remained resilient.

• Nifty Midcap 100 gained 0.7%, touching a fresh all-time high.
• Nifty Smallcap 100 advanced 1.2%, continuing its outperformance and ending just 0.65% below its record high.

 

Top gainers and losers on Nifty 50

Among the Nifty50 constituents:

Top Gainers

• TCS (+4.57%)
• Infosys (+4.42%)
• InterGlobe Aviation (IndiGo) (+4.43%)
• Shriram Finance (+4.16%)
• Bajaj Finserv

Top Losers

• Sun Pharma
• Apollo Hospitals
• Cipla
• ONGC
• Bharti Airtel

 

Stocks in focus

• Larsen & Toubro jumps over 7%

Larsen & Toubro (L&T) surged 7.52% to close at ₹4,690, emerging as one of the day’s biggest gainers as investors remained optimistic about the company’s infrastructure order pipeline and strong execution outlook.

• IT majors rally on sector buying

Technology stocks witnessed broad-based buying.

• TCS rose 4.57% to ₹2,473.70
• Infosys climbed 4.42% to ₹1,180
• HCL Technologies gained 2.23%
• Wipro advanced 2.73%

The rally came amid improving sentiment towards global technology stocks and expectations that stable interest rates could support IT spending.

• Grasim climbs over 5%

Grasim Industries jumped 5.13% to close at ₹3,260, making it one of the top performers on the benchmark indices.

• IndiGo flies higher

Shares of InterGlobe Aviation (IndiGo) rallied 4.43% to ₹5,400, emerging among the top Nifty gainers amid continued optimism over robust passenger traffic and improving aviation sector fundamentals.

Financials strengthen

Banking and financial stocks remained firm.

• ICICI Bank rose 2.57%
• Axis Bank gained 3.46%
• State Bank of India (SBI) advanced 1.71%
• Shriram Finance climbed 4.16%
• Divi’s Laboratories hits upper circuit

Divi’s Laboratories hit the upper circuit and closed 6.57% higher at ₹8,585, outperforming the broader pharmaceutical sector.

• Titan and Tata Consumer gain
• Titan Company ended 2.56% higher at ₹5,000.
• Tata Consumer Products gained 2.48% to close at ₹1,110.

 

Outlook

Market participants will closely monitor the upcoming RBI monetary policy decision, developments in global bond yields, foreign fund flows, and the ongoing Q1FY27 earnings season.

While elevated US bond yields continue to pose a risk to sustained foreign inflows into emerging markets, improving domestic liquidity, easing crude oil prices, stronger participation from FIIs, and positive earnings from several companies continue to support the broader market sentiment.

With Nifty breaking out of its prolonged consolidation and broader markets touching fresh highs, investors will now watch whether the benchmark can decisively cross the 24,800–24,950 resistance zone to extend the rally towards the 25,000–25,350 levels in the coming sessions.

Disclaimer: The stocks and market-related information mentioned in this article are provided solely for informational and educational purposes. They should not be construed as investment advice or a recommendation to buy or sell any security. Investors are advised to conduct their own research and consult a qualified financial advisor before making investment decisions. Investments in the securities market are subject to market risks. Please read all offer documents carefully before investing.