Stock Market Open Report, July 28, 2026: Markets Open Flat as Iran-US Thaw, Falling Oil Offset Weak Asian Cues

Mumbai, July 28:Indian equity benchmarks opened on a muted note and traded cautiously on Tuesday, after Monday’s sharp rebound, following the thaw in Iran-US tensions as
well as a further decline in crude prices that offset mixed Asian cues. The Sensex traded at 76,929.53, higher by 93.75 points or 0.12 per cent, and the Nifty 50 traded at 24,016.70, higher by 20.75 points or 0.09 per cent as of 9:42 am. Both benchmark indices were trading above their previous close, with investors seen balancing reports of “good talks” between Washington and Tehran against a mixed Wall Street session and a fall in Asian shares.

Gainers & Losers 

Among Nifty gainers, Tech Mahindra (TECHM) surged 2.92 per cent to Rs 1,621 from the previous close of Rs 1,575, followed by Tata Consultancy Services (TCS) up 2.88 per cent to Rs 2,361.70 from Rs 2,295.60, Infosys (INFY) advancing 2.66 per cent to Rs 1,107.90 from Rs 1,079.20, Cipla (CIPLA) up 1.99 per cent to Rs 1,437.50 from Rs 1,409.40, and HCL Technologies (HCLTECH) higher by 1.82 per cent to Rs 1,319.50 from Rs 1,295.90.  

Among losers, Bharat Electronics (BEL) was the sharpest loser on the Nifty 50, down 3.48 per cent to Rs 393 from Rs 407.15, followed by Coal India (COALINDIA) lower by 2.77 per cent to Rs 415.65 from Rs 427.50. NTPC (NTPC) slipped 1.10 per cent to Rs 346.95 from Rs 350.80, Tata Motors Passenger Vehicles (TMPV) dipped 1.04 per cent to Rs 324.25 from Rs 327.65, and Power Grid (POWERGRID) eased 0.95 per cent to Rs 286.10 from Rs 288.85.  

Broad Markets & Sectoral Performance 

Among broad-market indices, the Nifty Midcap 50 was the top gainer on Tuesday morning, rising by 0.15 per cent, followed by the Nifty 50 and Nifty Midcap Select both up 0.01 per cent. The Nifty Bank was trading down 0.31 per cent, the Nifty Next 50 declined 0.28 per cent and the Nifty Smallcap 250 slipped 0.23 per cent. Among sectoral indices, the Nifty IT soared 2.79 per cent on Tuesday morning, extending Monday’s gains, followed by the Nifty Realty up 1 per cent and the Nifty FMCG up 0.51 per cent. The Nifty PSU Bank index was the top loser, down 0.59 per cent, ahead of the Nifty Metal down 0.34 per cent and the Nifty Auto down 0.30 per cent.  

Iran War 

“The United States is having very good talks with Iran right now. A deal is possible but if we don’t make a deal we will strike very quickly,” President Donald Trump said at the White House on Monday. He did not say when he expected the talks to conclude. Despite Trump’s conciliatory tone, Saudi Arabia, Jordan and Iraq also reported attacks on Monday involving drones, even as Iran said it would continue halting its own attacks so long as Washington kept its pause in place. Iran’s Revolutionary Guards military said the United States had threatened a naval blockade that would be illegal if it tried to enforce such restrictions in Iran’s territorial waters. It said six foreign ships were turned back on Monday when they tried to cross the Strait of Hormuz. The two sides remain at odds over a memorandum they agreed in June aimed at resolving the crisis by the end of August. Issues on the table include how far the Strait must remain open to free passage.  

Asian Markets 

Asian markets were mixed-to-weaker on Tuesday morning, with Japan’s Nikkei 225 plummeting 4.44 per cent to 62,046.46, the sharpest fall among its regional peers on reports that container cargo volumes at some major Japanese ports plunged last month on the crisis with Iran. Hong Kong’s Hang Seng traded higher by 0.61 per cent to 25,361.92 even as Vietnam’s HNX 30 dropped 3.80 per cent and Thailand’s SET index fell 1.21 per cent. Pakistan’s KSE 100 index was the standout performer among regional peers, soaring 4.23 per cent to 178,262.34.  

US Markets 

US markets ended broadly higher on Monday, with the Dow Jones Industrial Average rising 0.51 per cent to close at 52,210.08 and the NYSE Composite up 0.45 per cent. The S& P 500 added marginally by 0.02 per cent to 7,413.18, while the Nasdaq Composite bucked the trend lower, dipping 0.18 per cent to 24,932.08. Canada’s S&P/TSX Composite also ended on a firm note, rising 0.56 per cent.  

Oil Prices 

Oil prices declined about 1 per cent on Tuesday as investors assessed a pause in US strikes on Iran, which raised hopes of diplomacy resolving the crisis and lifting Middle East energy flows back to normal levels. Brent crude futures traded lower by 0.6 per cent at $87.82 a barrel, while US WTI crude fell 0.8 per cent to $81.95 a barrel. Both contracts had slumped as much as 1 per cent earlier in the session to their lowest levels since last week. Investors were likely taking some relief on sentiment that tensions would ease for now, though analysts said caution remained warranted given the situation was fluid.  

Sensex, Nifty on Monday 

Indian equity benchmarks snapped their five-session losing streak on Monday, with the Sensex jumping 776.01 points, or 1.02 per cent, to close at 76,835.78 and the Nifty 50 climbing 228.50 points, or 0.96 per cent, at 23,995.95. Market breadth was positive with 2,646 advances beating 1,530 declines and 176 issues remaining unchanged. Media, IT and realty stocks led sectoral gainers on Monday, rising 2.4 per cent, 2.3 per cent and 2.2 per cent respectively, while the Midcap 100 and Smallcap 100 climbed 1 per cent and 1.3 per cent. The ceasefire in Iran and dropping crude oil prices, as well as earnings supported Monday’s bounce. 

Sources

• NSE
• BSE