Summary of this article
Sensex, Nifty opened higher as falling oil prices lifted market sentiment
US-Iran talks raised hopes of easing tensions and stable global oil supplies
Small-caps outperformed, while PSU Bank, FMCG and IT stocks led gains
Stock Market Today: Benchmark equity indices opened higher on August 3, 2026, as easing crude oil prices and renewed hopes of a diplomatic breakthrough between the US and Iran lifted investor sentiment. The BSE Sensex opened higher by 788.70 points, or 1.01 per cent, at 78,883.34, while the NSE Nifty 50 gained 189.10 points, or 0.78 per cent, to start the session at 24,572.70.
Small-cap stocks led the market rally, with the Nifty Smallcap 100 climbing 1.10 per cent. The Nifty Midcap 100 also gained 0.72 per cent, largely matching the benchmark indices.
Among the sectoral indices, Nifty PSU Bank, Nifty FMCG, Nifty IT, and Nifty Financial Services were the top gainers, rising between 1 per cent and 2 per cent. On the other hand, Nifty Media emerged as the biggest loser, followed by Nifty Pharma and Nifty Healthcare.
US-Iran Resume Talks Today
Investor sentiment improved after US President Donald Trump said Washington was close to reaching an agreement with Iran and confirmed that fresh negotiations between the two countries would begin on Monday. The remarks fuelled expectations that geopolitical tensions in West Asia could ease, reducing concerns over disruptions to global oil supplies.
On the Iranian side, President Masoud Pezeshkian urged the US to honour the memorandum of understanding signed in June, saying it would remain central to Tehran's future foreign policy. Separately, Foreign Minister Abbas Araghchi said discussions with Oman on the administration of the Strait of Hormuz had entered their final phase, indicating progress on another key regional issue.
Crude Oil Prices Ease
The diplomatic developments weighed on crude oil prices. At the time of writing, Brent crude futures were trading at around $83.50 a barrel, down nearly 5 per cent, while US West Texas Intermediate (WTI) crude fell about 5.60 per cent to below $80 a barrel.
The decline in oil prices is a positive development for India, the world's third-largest crude importer. Lower crude prices can help contain imported inflation, reduce the country's import bill and improve the earnings outlook for sectors that are sensitive to fuel costs.
Nifty 50 Top Gainers And Losers
Among the Nifty 50 stocks, ITC emerged as the top gainer, rising 3.61 per cent, followed by InterGlobe Aviation at 2.65 per cent, Jio Financial Services at 2.38 per cent, and Shriram Finance at 2.32 per cent. Other notable gainers included Adani Enterprises, Tata Motors, State Bank of India (SBI), Eicher Motors, Bajaj Finance, Bajaj Finserv, ICICI Bank, Infosys, Dr Reddy's Laboratories, Tata Consultancy Services, Asian Paints, Axis Bank, Larsen & Toubro, and Hindalco, all of which advanced between 1 per cent and 2 per cent.
On the flip side, Sun Pharma, Maruti Suzuki, Eternal (formerly Zomato), Bharti Airtel, Cipla, and ONGC traded in the red, capping gains in the benchmark indices.
How Global Markets Performed
Meanwhile, Asian markets traded under pressure. South Korea’s Kospi slumped 4.66 per cent, Japan’s Nikkei 225 fell nearly 1 per cent, and China’s CSI 300 declined 0.73 per cent. Hong Kong’s Hang Seng traded largely flat, while Taiwan’s Taiex bucked the trend, rising nearly 1 per cent.
On Wall Street, markets ended higher in the previous session. The Dow Jones Industrial Average gained 0.53 per cent, the S&P 500 advanced 0.70 per cent, and the tech-heavy Nasdaq Composite climbed 1 per cent.
