India Stocks: Indian stocks rise on Brent dip, shock-free earnings season

Zee Entertainment Enterprises

03/08/2026 05:21

Updates for morning trade
By Bharath Rajeswaran and Vivek Kumar M
Aug 3 (Reuters) - Indian shares rose on Monday as a 5% drop in Brent crude helped, while an earnings season so far free of any major upsets, as well as resilient monthly auto sales also supported gains.
The benchmark Nifty 50 .NSEI rose 0.67% to 24,546.80, while the BSE Sensex .BSESN gained 0.66% to 78,613.05 by 9:49 a.m. IST.
Brent crude LCOc1 fell 5.1% to $83.4 a barrel after the U.S. President Donald Trump said talks with Iran would happen on Monday but declined to set a deadline for an agreement. 
Trump had earlier called off a planned attack on Iran in the hope of quickly reaching a deal to reopen the Strait of Hormuz.    Lower oil prices are positive for India, which imports the bulk of its energy needs. [O/R]
Cigarettes maker ITC ITC.NS gained 3.8%, leading consumer index .NIFTYFMCG 1.6% higher, despite a profit drop in June quarter, as multiple brokerages termed the cigarette volume beat as a positive for future earnings.
Divi's Laboratories DIVI.NS rose 3.2% after quarterly profit rise. Urban Company URBN.NS surged 16% after reporting a 44% jump in the first-quarter revenue.
Beyond the pullback in Asian memory stocks which has supported domestic equities, foreign inflows, credit growth, auto sales, property activity and power demand have all exceeded expectations, while June-quarter earnings have been broadly encouraging, Jefferies said.
Fourteen of the 16 major sectors advanced, while the broader small-cap .NIFSMCP100 and mid-cap .NIFMDCP100 indexes rose 1% and 0.6%, respectively.
Financials .NIFTYFIN, the biggest weight on the indexes, gained 1%, led by Bajaj Finance BJFN.NS and Bajaj Finserv BJFS.NS, which rose about 3% each after reporting results.
Zee Entertainment ZEE.NS fell 11.3% after India's markets regulator fined the company, its chief executive and chairman emeritus a combined 14.8 million rupees. 
The regulator also barred CEO Punit Goenka and founder Subhash Chandra from the securities market for one year over securities-law violations.

 (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Subhranshu Sahu and Nivedita Bhattacharjee)
 ((VivekKumar.M@thomsonreuters.com;))