Nifty Reclaims 24,000 as IT & Realty Lead Broad-Based Rally; U.S.-Iran Tensions Ease, Fueling Risk-On Sentiment - Paper by Pocketful

Jul 27, 2026

KFin Technologies (+10.67%): Shares emerged as the day’s biggest gainer after the company reported a strong Q1 FY27, with revenue rising 30.1% YoY to ₹356.5 crore despite net profit slipping 2.6% YoY to ₹85.1 crore. Strong international growth, the Ascent Fund Services acquisition, and management’s confidence in margin expansion boosted investor sentiment.
ONGC (-4.10%): Shares declined despite the company commencing India’s first deepwater exploratory well in the Mahanadi basin, as investors awaited meaningful commercial discoveries and near-term earnings impact.
Container Corporation of India (+6.90%): Shares gained after the company reported a steady Q1 FY27, with net profit rising 0.6% YoY to ₹268.9 crore while revenue increased 1.3% YoY to ₹2,307 crore. The announcement of an interim dividend of ₹1.60 per share further supported investor sentiment.
NBCC (India) (+1.13%): Shares gained after the company secured two work orders worth ₹108.85 crore from the National Horticulture Board and Odisha’s Directorate of Technical Education & Training, strengthening its project pipeline.

Nifty Media (+2.39%): The index extended gains for a third consecutive session, supported by improving Q1 FY27 earnings sentiment, a stronger advertising outlook, and expectations of higher content consumption. Gains were led by PVR INOX, Zee Entertainment, and Saregama India, reflecting selective buying across media and entertainment stocks.
Nifty IT (+2.34%): The index surged as all 10 constituents ended in the green, supported by easing US Fed rate-hike concerns after falling crude oil prices reduced inflation fears, as improving global risk sentiment boosted technology stocks.
Nifty Realty (+2.28%): The index advanced as easing crude oil prices, improving market sentiment, and expectations of sustained housing demand boosted buying interest. Gains were led by Lodha Developers, Prestige Estates Projects, and Godrej Properties.
Nifty Consumption (+1.62%): The index advanced as all constituents ended in the green, supported by broad-based buying, strong consumer demand expectations, and positive earnings sentiment.

Technical Level: Nifty opened with a sharp gap-up and maintained its upward momentum throughout the session, consistently making higher highs. Immediate support is placed at 23,890, while resistance stands at 24,010. The index closed near the day’s high, reflecting sustained buying interest and strong bullish sentiment.
Advance-Decline Ratio: Market breadth remained strong, with 2,259 stocks advancing against 1,071 declining, indicating broad-based buying across sectors and healthy participation in the market rally.
The Big Picture: The U.S. suspended its strikes on Iran after 13 consecutive nights, while Iran signaled it would refrain from further attacks as long as the U.S. does the same. The de-escalation pushed Brent crude down nearly $10 from last week’s peak above $100 to around $91 a barrel, easing concerns over inflation, interest rates, and India’s current account deficit. However, the relief remains fragile. Houthi attacks on Saudi oil tankers in the Red Sea continue, and the Strait of Hormuz remains closed, leaving oil prices vulnerable to any renewed escalation in the conflict.
FII/DII Activity (July 24, 2026): DIIs remained net buyers, purchasing ₹5,453 crore, while FIIs were net sellers, offloading ₹3,893 crore, indicating continued domestic institutional support despite foreign selling.

IPO Corner: Cube Highways trust InviT IPO Closing for subscription Tomorrow, making the key primary market offerings with good GMP.
Macro: Japan Inflation Rate YoY (Jun) & UK Retail Sales MoM (Jun) data scheduled for release tomorrow.
Market Watch: Focus will remain on L&T and HUL’s Q1 FY27 earnings, which are expected to provide insights into infrastructure spending and consumer demand trends. Investors will also track Middle East developments, crude oil prices, and global market cues. On the technical front, Nifty’s next resistance stands at 24,150, while immediate support is placed at 23,820.

Risk-On: Risk-On is a market environment where investors prefer riskier assets like stocks over safe-haven investments, driven by improving economic outlook, easing uncertainty, or stronger investor confidence.

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