The Sensex rose 544.39 points, or 0.7%, to close at 78,639.03, while the Nifty50 ended the new closing auction session 391 points, or 1.6%, higher at 24,774.30, extending the winning streak to a fourth straight day.The trigger came over the weekend, with oil prices correcting sharply on reports of talks between the US and Iran.
The Nifty MidCap gained 1.21% and the Nifty SmallCap climbed 1.29%.
Impact on the stock market
Sector-wise, the Nifty IT, Nifty FMCG and Nifty PSU Bank indices led the gains. IT’s return to the top after Friday’s pause suggests the sector’s recovery trade remains alive, while FMCG stocks stand to benefit from cooling crude, since packaging, fuel and edible oil costs are all linked to it.
The Nifty Media index declined the most, sitting out an otherwise broad advance. On a day when nearly everything rose, the laggards were the exception rather than the story.
| Sector/Index | Performance |
| IT & BPM sector | 3.28% |
| Healthcare sector | 0.17% |
| Oil & Gas sector | 0.98% |
| Real estate sector | 1.29% |
| PSU Bank in India | 1.43% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Grasim | 3,260.00 | 5.13 |
| TCS | 2,473.70 | 4.57 |
| Interglobe Aviation | 5,400.00 | 4.43 |
| Infosys | 1,180.00 | 4.42 |
| Shriram Finance | 1,090.20 | 4.16 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Apollo Hospital | 8,820.00 | -1.53 |
| Sun Pharma | 1,963.50 | -1.36 |
| Maruti Suzuki | 14,150.00 | -0.59 |
| ONGC | 242.00 | -0.22 |
| Tech Mahindra | 1,649.00 | -0.14 |
Market aftermath: Impact on stocks
Ethos: A record single-day surge on a 47% profit jump
Luxury watch retailer Ethos delivered the day’s most striking move, hitting the 20% upper circuit intraday at ₹3,090.40 before profit booking trimmed the gain to 12.7% at the close of ₹2,902.50. Even after the pullback, it marked the stock’s biggest single-day gain on record. The trigger was a June quarter net profit of ₹28 crore, up 47% from ₹19 crore a year earlier, with revenue rising 34% to ₹462 crore.
Managing Director and CEO Pranav Saboo attributed the performance to sustained demand for luxury products in India, supported by the company’s brand portfolio and focus on customer experience. The expansion story is moving quickly too, with the boutique count rising to 103 across 34 cities from 94 across 30 cities at the end of the last financial year, including new entries in Agra, Faridabad, Amritsar and Visakhapatnam. For investors, the quarter offered evidence that India’s appetite for premium goods is holding up even in an uncertain macro environment.
Zepto: Unlisted shares fall 23% in five days as the IPO pause resets the price
Away from the exchanges, quick-commerce company Zepto is going through a sharp repricing in the unlisted market, where its shares have fallen 23% over five sessions to around ₹27 from ₹35. That implies a valuation of roughly ₹34,000 crore, or about $3.6 billion, a steep fall from the nearly $9 billion implied at the December 2025 peak when the shares traded near ₹68, meaning the stock has lost almost 60% from its high. The slide follows Zepto’s decision to pause its planned IPO and instead raise about ₹1,000 crore through a placement with existing investors.
The core issue is a wide gap between what the company wanted and what institutions would pay, with Zepto seeking a valuation around $4.5 billion while domestic institutional investors anchored at $2.5 to 3 billion. The business itself is growing rapidly, with revenue more than doubling to ₹22,623.58 crore in the last financial year, but net loss widened to ₹5,905.19 crore, and Jefferies estimates the company lost around ₹79 per order against near break-even economics at rival Blinkit. It is a useful reminder for retail investors that in private markets, growth alone does not set the price; the path to profitability does.
IEX: Down over 4% as the Supreme Court clears the path for market coupling
Indian Energy Exchange shares fell as much as 4.34% to ₹126.51 after the Supreme Court declined to hear the company’s plea in the market coupling case, later recovering slightly to trade 3.27% lower. The court said it was not the appropriate stage to hear the matter and allowed the Central Electricity Regulatory Commission to proceed with framing regulations, while clarifying it was expressing no opinion on the merits. Reports noted the court has deferred the hearing rather than rejected the company’s arguments outright.
Market coupling is the reason investors are nervous, since it would pool buy and sell orders from all power exchanges into a common system that discovers a single electricity price, instead of each exchange setting its own. The regulator argues this improves transparency and efficiency, but for IEX, which dominates power trading today, a single shared price could erode the competitive advantage of its deep liquidity. With a shadow pilot already approved and a single reference price being published since January, the regulatory direction is clear, and the stock is pricing in that uncertainty.
Crude oil: A 5% plunge as Trump pauses the planned strike
The oil market saw its biggest one-day relief of the entire conflict. Brent crude futures tumbled 5.05% to $83.49 a barrel on Monday morning, US crude sank 5.85% to $79.70, and oil futures on India’s commodity exchange dropped 6.08% to ₹7,620. The trigger was US President Donald Trump announcing he had put a planned strike on Iran on hold, saying Iran and other West Asian countries had requested a pause because “the perimeters of a deal” had been agreed, including the complete reopening of the Strait of Hormuz and an end to Iran’s nuclear threat.
Adding to the downward pressure, the OPEC+ group of producers decided to increase output by 188,000 barrels a day from September. The combination of a possible diplomatic breakthrough and more supply on the way flipped the market’s entire narrative in a single weekend. The deal is still only a framework, but for now, traders are pricing hope rather than fear.
Conclusion
Monday captured what a genuine de-escalation could mean for Indian markets: crude down more than 5%, an airline leading the Nifty50, four straight winning sessions and the Sensex closing in on its pre-crisis levels. The stock-specific stories added texture, with Ethos confirming the strength of premium consumption, Zepto showing how quickly private valuations can deflate, and IEX reminding investors that regulation can move a stock as much as any earnings report. The obvious caution is that the Hormuz reopening is a promise, not yet a fact, and markets have been disappointed by this conflict before. If the deal holds, though, August could look very different from July.
