Indian benchmark equity indices opened the week on a strong note, with the Sensex surging more than 600 points and the Nifty reclaiming the 24,000 mark during early trade on Monday. Broad-based buying in FMCG, information technology and media stocks lifted market sentiment, while easing crude oil prices also supported investor confidence.

At around midday, the BSE Sensex was trading above 76,700, up more than 600 points from its previous close, while the NSE Nifty gained nearly 200 points to trade around the 24,000 level.

FMCG and IT Stocks Drive Market Higher

The rally was led by buying in defensive sectors such as FMCG, alongside gains in IT and media shares. Market participants attributed the positive momentum to improving global cues, easing geopolitical concerns and expectations of lower input costs following the decline in crude oil prices.

Investors also remained focused on ongoing corporate earnings and global economic developments, which continue to influence market direction.

Brent Crude Falls Below $93 Per Barrel

International crude oil prices declined sharply, with Brent crude dropping nearly 4% to around $93 per barrel.

The fall comes amid signs of easing tensions between the United States, Israel and Iran, reducing concerns over possible supply disruptions in global energy markets.

However, market experts cautioned that any renewed escalation in the region could push crude prices back towards $120 per barrel, potentially impacting India's fuel import bill and domestic petrol and diesel prices.

Asian Markets Trade Mixed

Asian markets showed a mixed performance on Monday.

• Japan's Nikkei gained 153 points (0.24%).

• Hong Kong's Hang Seng advanced 178 points (0.81%).

• South Korea's Kospi declined 73 points (0.88%).

The mixed trend reflected cautious investor sentiment ahead of key global economic data and central bank decisions.

Wall Street Ends Mixed

US markets closed on a mixed note in the previous trading session.

• Dow Jones gained 236 points (0.46%).

• S&P 500 edged up 4 points (0.05%).

• Nasdaq Composite slipped 162 points (0.64%), weighed down by technology stocks.

The mixed performance in US equities provided limited direction to Asian markets.

Foreign Investors Continue Selling

Foreign Institutional Investors (FIIs) remained net sellers in Indian equities.

According to the latest market data:

• FIIs/FPI sold shares worth ₹3,893 crore during the latest session.

• Over the past seven trading days, foreign investors have sold equities worth ₹6,061 crore.

• During the last 30 days, net FII selling has reached ₹15,636 crore.

In contrast, Domestic Institutional Investors (DIIs) continued to provide support by purchasing shares worth ₹5,454 crore in the latest session. Their cumulative purchases stood at ₹7,326 crore over the last seven days and ₹39,355 crore over the past month.

Markets Recover After Friday's Decline

Monday's gains come after a weak close in the previous session.

On July 24, the Sensex had fallen 331 points to settle at 76,059, while the Nifty declined 102 points to close at 23,767.

The recovery suggests investors are returning to equities amid improving global sentiment, although analysts expect market volatility to continue due to geopolitical developments, foreign fund flows and corporate earnings.