Closing Bell: Nifty Nears 24,000 Mark as Midcaps Lead Broad Market Rally | 27 Jul 2026, 03:45 PM IST
By ThePip Desk
Nifty 50 closes at 23996.75, gaining 0.96% on Monday. Strong midcap performance and positive corporate earnings reports fueled the broad market rally.
Indian equity benchmarks concluded Monday’s session on a strong note, with the Nifty 50 closing just shy of the 24,000 mark. The benchmark index settled at 23996.75, registering a gain of +229.30 points, or +0.96%. The broader market saw significant participation, as reflected by the NIFTY Midcap 100 index, which surged +678.05 points (+1.10%) to 62300.40. The Nifty Bank also contributed to the positive sentiment, advancing +398.35 points (+0.70%) to close at 57091.85. Market breadth remained positive, with 31 out of 50 Nifty constituents ending the day in the green.
Index Performance Overview
| Name | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 23996.75 | +229.30 | +0.96% |
| Nifty Bank | 57091.85 | +398.35 | +0.70% |
| NIFTY Midcap 100 | 62300.40 | +678.05 | +1.10% |
Sectoral Trends and Top Movers
The market witnessed broad-based gains across sectors. Information Technology led the charge with a +2.37% increase, followed closely by Automobile stocks, which rose +2.31%. Financial Services, Healthcare, Consumer Durables, Pharma, and Realty sectors also posted notable gains, contributing to the overall positive momentum.
Among the Nifty 50 pack, Eternal Ltd. emerged as the top gainer, soaring +5.63%. Interglobe Aviation Ltd. (INDIGO) and Infosys Ltd. also saw significant upward movement, gaining +4.96% and +3.76% respectively. Bajaj Finance Ltd., Max Healthcare Institute Ltd., and Shriram Finance Ltd. were also among the prominent advancers.
| Company | Close (₹) | Change% |
|---|---|---|
| Eternal Ltd. (ETERNAL) | 295.75 | +5.63% |
| Interglobe Aviation Ltd. (INDIGO) | 5232.5 | +4.96% |
| Infosys Ltd. (INFY) | 1080 | +3.76% |
| Bajaj Finance Ltd. (BAJFINANCE) | 1048.4 | +3.52% |
| Max Healthcare Institute Ltd. (MAXHEALTH) | 1117 | +3.39% |
| Shriram Finance Ltd. (SHRIRAMFIN) | 1038 | +3.27% |
| Asian Paints Ltd. (ASIANPAINT) | 2710.8 | +2.76% |
| Mahindra & Mahindra Ltd. (M&M) | 3239.8 | +2.48% |
| Maruti Suzuki India Ltd. (MARUTI) | 13751 | +2.30% |
| HCL Technologies Ltd. (HCLTECH) | 1297.1 | +2.05% |
Conversely, Oil & Natural Gas Corporation Ltd. (ONGC) was the biggest laggard, declining −4.07%. HDFC Bank Ltd., HDFC Life Insurance Company Ltd., and Dr. Reddy’s Laboratories Ltd. also closed in the red, albeit with minor losses.
Corporate Earnings Drive Stock-Specific Action
Several companies reported their Q1FY27 earnings, influencing individual stock movements. Eternal Ltd. informed about its board meeting outcome and reported a significant over three-fold jump in Q1 consolidated net profit, with total income surging +173.71% to ₹20,586 crore. This news propelled the stock higher.
Interglobe Aviation Ltd. (IndiGo) reported a consolidated net loss of ₹237.60 crore for Q1FY27, despite a +18.90% increase in total income to ₹25,614.10 crore. However, the airline’s strong operational performance, including a passenger load factor of 85.1% in June and a market share of 66.3%, likely mitigated negative sentiment, allowing the stock to gain.
Infosys Ltd. announced a +12% rise in Q1 consolidated net profit, with consolidated total income increasing by +13.56% to ₹49,195 crore. This positive earnings report contributed to the stock’s robust performance during the session.
FII and DII Activity
Foreign Institutional Investors (FIIs) continued to be net sellers in the Indian markets, offloading equities worth ₹−3892.77 crore today. Domestic Institutional Investors (DIIs), however, provided strong counter-support, emerging as net buyers with an inflow of ₹+5453.55 crore. This trend of FII selling being absorbed by DII buying has been observed in recent sessions, with FIIs selling ₹−2999.23 crore and DIIs buying ₹+2947.14 crore on July 23, and FIIs selling ₹−819.2 crore and DIIs selling ₹−418.26 crore on July 22.
Looking ahead, investors will monitor global cues and any further corporate announcements before tomorrow’s trading session. The sustained strength in midcaps and the impact of ongoing earnings season will be key factors to watch.