
Despite global tensions weighing on investor sentiment, Indian equity markets opened strong and maintained positive momentum throughout the day. The Sensex hit an intraday high of 81,865.82 before closing at 81,796.15, gaining 677.55 points or 0.84%. Similarly, the Nifty50 ended at 24,946.50, up 227.9 points or 0.92%.
The broader markets mirrored the strength, with the Nifty Midcap100 rising 0.93% and the Nifty Smallcap100 gaining 0.95%. Meanwhile, the India VIX, a measure of market volatility, dropped 1.6% to 14.83, signaling reduced investor fear.
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Impact on the stock market
It was a green day across the board with all sectors closing higher.
Nifty Metal: +1.07%
Nifty Bank: Positive
Energy, Media, FMCG, Consumer Durables, Pharma: All ended higher
Sector/Index | Performance |
IT & BPM sector | 1.48% |
Healthcare sector | 0.39% |
Oil & Gas sector | 1.11% |
Real estate sector | 1.34% |
PSU Bank in India | 0.35% |
Top gainers today
Company | Price (in ₹) | Change % |
Bharat Elec Share Price | 403.85 | 2.45 |
SBI Life Insura Share Price | 1,797.80 | 2.43 |
UltraTechCement Share Price | 11,495.00 | 2.41 |
HDFC Life Share Price | 770.55 | 2.35 |
ONGC Share Price | 256.79 | 2.10 |
Top losers today
Company | Price (in ₹) | Change % |
Tata Motors Share Price | 686.65 | -3.57 |
Dr Reddys Labs Share Price | 1,346.80 | -1.15 |
Adani Ports Share Price | 1,400.60 | -0.31 |
Sun Pharma Share Price | 1,685.30 | -0.15 |
Market aftermath: Impact on stocks
HPCL, BPCL and IOC: Rebounding as crude cools
Oil marketing companies (OMCs) had been under pressure due to the Middle East tensions. But today, as Brent crude prices fell below $74 per barrel, OMC stocks rebounded:
- HPCL rose nearly 3% from its intraday low, hitting ₹396.
- BPCL gained 2.7% to trade at ₹317.
- IOC climbed over 2% to touch ₹142.
The fall in crude prices helped these companies recover from their recent two-day losing streak. In addition, reports that Delhi may tweak its electric vehicle policy also lifted stocks like Indraprastha Gas (IGL) and Mahanagar Gas (MGL), providing a broader boost to the Oil & Gas sector.
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Cordelia Cruises: Files for ₹727 crore IPO
In other market news, Mumbai-based Waterways Leisure Tourism, which operates the Cordelia Cruises brand, filed for an IPO worth ₹727 crore.
Key details:
- Entirely a fresh issue with no offer-for-sale.
- ₹552.5 crore will be used for vessel leasing via its step-down subsidiary Baycruise Shipping and Leasing.
- The remaining funds will go toward general corporate purposes.
- The promoters, Global Shipping and Leisure and Rajesh Chandumal Hotwani, currently hold 99.27% stake.
- Financially, the company posted a ₹120 crore net loss for FY24, compared to a ₹55.3 crore profit in FY23. Revenue also slipped 8.3% to ₹442.1 crore.
The cruise operator primarily serves domestic routes including Mumbai, Goa, Kochi, Chennai, Lakshadweep, Visakhapatnam, and Puducherry.
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IndiGo: Stock gains after promoters deny stake sale
Shares of IndiGo jumped over 2% after its promoter, InterGlobe Enterprises, clarified that reports of a possible 4% stake sale worth ₹8,600 crore were purely speculative.
- InterGlobe Enterprises holds 35.71%, while Rakesh Gangwal and related entities own 13.53%.
- Rahul Bhatia directly owns 0.1%.
- Gangwal sold 5.8% of his stake on May 27 as part of his gradual exit.
Despite the earlier rumours, management reiterated its long-term commitment to the airline. Brokerage Jefferies remains bullish on IndiGo, maintaining a price target of ₹6,300 per share, which is nearly 20% upside from its current price of around ₹5,262.
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Crude oil update: tensions drive short-term spikes
Crude oil continues to react to the developments in the Middle East.
- On Monday morning, August Brent crude futures were trading at $75.06, up 1.12%.
- WTI crude stood at $72.13, up 1.18%.
- On MCX, June crude oil futures were at ₹6,364, while July futures were at ₹6,231.
- Natural gas futures also moved up by 2.31%.
Over the weekend, Israel attacked Iran’s South Pars gas field, forcing a shutdown of production. Previous attacks also targeted Iran’s nuclear facilities, raising fears of further disruptions to oil supply.
However, both analysts and markets believe that unless Iran tries to block the Strait of Hormuz – through which 20% of the world’s oil flows – a full-blown crude supply crisis seems unlikely for now. Historically, even during past conflicts, this critical shipping route has remained open.
Brokerages like JM Financial suggest crude prices may remain in the $70-80 per barrel range in the near term if tensions don’t escalate further.
Conclusion
In summary, today’s share market news showed how resilient Indian markets can be, even with global tensions rising. The Sensex and Nifty closed firmly in the green, led by strong gains in IT, oil marketing companies, and select large caps.
Crude oil remains a key global factor to watch. IPO buzz continues with Cordelia Cruises entering the picture, while IndiGo provided some relief to investors by shutting down stake sale rumours.
While today was positive, the ongoing Israel-Iran conflict and global oil prices will continue to keep markets on their toes. For now, the Indian market seems to be treading carefully — but with confidence.
For more stock market insights, check out the StockGro blog.