Over 180 shares have crossed their 52-week highs such as Aditya Birla Capital, One 97 Communications (Paytm), Divi’s Laboratories, Craftsman Automation, Schloss Bangalore (The Leela Palaces), Minda Corporation, Cholamandalam Investment and Finance Company, Redington, amongst others.
Today’s Stock Marke
The Indian stock market continued its rally for four days in a row on August 3rd, with Nifty touching above 24,700 level, supported by buying in all the sectors apart from media companies.
Markets kicked off the week and the month of August in positive mood, recording gains for the whole day session to end above the 24,700 level for the first time since March 6, 2026. Market sentiment was bullish as there was a fall in the price of crude oil due to easing of geopolitical tensions and purchases by FIIs.
Market Indices:
Sensex: 78,639.03, up by 544.39 points (0.70%)
Nifty: 24,774.30, up by 390.70 points (1.60%)
Equities were well-supported in the wider market too, with the Nifty Midcap 100 and Smallcap 100 both advancing by 1.2%.
In the Nifty50, InterGlobe Aviation, TCS, Infosys, Shriram Finance, and Grasim Industries topped the list in gains, whereas Sun Pharma, Apollo Hospitals, Maruti Suzuki, ONGC, and Tech Mahindra led in losses.
All sectoral indices, except Nifty Media, were in the positive zone, with the Nifty IT Index showing the highest gain, increasing by more than 3%.
Over 180 shares have hit their respective 52-week highs and some of the companies that have seen 52-week highs include Aditya Birla Capital, One 97 Communications (Paytm), Divi’s Laboratories, Craftsman Automation, Schloss Bangalore (The Leela Palaces), Minda Corporation, Cholamandalam Investment and Finance Company, Redington, FSN E-Commerce Ventures (Nykaa), Ramkrishna Forgings, Sai Life Sciences, Sona BLW Precision Forgings, Bajaj Finance, Laurus Labs, Titan Company, Apollo Hospitals Enterprise, Federal Bank, Bank.
Rupee settled higher at 95.34 to a dollar on Monday, from 95.39 at the previous close.
Among stocks of individual companies, ITC rose by 2% while the company announced its quarterly profit to fall by 27%. Zee Entertainment fell by 15% after SEBI barred the firm, Managing Director Punit Goenka, and Essel Group Chairman Subhash Chandra from the stock market.
On the other hand, Indian Oil Corporation rose by 2%, although the firm announced a quarterly loss. Muthoot Finance fell by 7%, although it announced better-than-expected quarterly results.
Urban Company jumped 12% despite posting a loss for the quarter at ₹92.1 crore, while IEX fell 3% after the Supreme Court denied hearing its petition in the case of market coupling. Munjal Showa gained 4.4% after posting a good June quarter result.
Market Outlook for August 4
Rupak De, Senior Technical Analyst, LKP Securities
The index has managed to make a comeback following nearly two months of consolidation and has provided an impressive bounce-back performance in spite of the current negative market sentiment. Nevertheless, judging from the price-corrected chart, the index has risen as far as its 200-day moving average (200DMA).
Two possibilities emerge from this point onward. The first is that the index encounters rejection around 200DMA levels and reverts back towards 24,400, helping the rally calm down. Conversely, if the index succeeds in breaking out above 200DMA levels, that is, above 24,800, then it may give rise to further buying interest and take the rally to 25,000-25,350 levels.
Sudeep Shah, Head – Technical & Derivative Research, SBI Securities
After opening on a ‘gap up’, Nifty went up but mostly stayed rangebound throughout the day, after which the stock market witnessed an upward trend due to the start of the closing auction session, causing the Index to end at 24,774, up 0.84%.
In today’s trade, the index has also touched and closed above its earlier swing high of 24,602 recorded on 21st April, 2026. Meanwhile, the RSI indicator is still on an uptrend and MACD has moved above its signal line indicating stronger bull pressure. Nifty has also come out of its more than four months consolidation range of 1,532 points in a daily chart.
Looking ahead, the initial resistance for Nifty is seen at the levels of 24920-24950. In case of any successful break above this level, then the possibility of an up move by Nifty towards 25100-25250 becomes probable. From the downside, the initial support for Nifty is seen at the levels of 24630-24600.
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