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Indian stocks rise in July as oil eases and earnings surprise
The Nifty 50 gained 2.2% in July, while foreign portfolio investors bought ₹20,200 crore after selling since March.
India’s benchmark Nifty 50 gained 2.2% in July, extending a streak of gains for the second straight month, while the Nifty Midcap 100 rose 1.8% and the Nifty Smallcap 100 climbed 2.5%, according to LiveMint Markets.
The rally has been supported by lower crude oil prices after Brent fell from above $120 per barrel in May to near $70 per barrel following a ceasefire between the US and Iran, the outlet said. Brent crude futures dropped up to 20% in May and June, easing macroeconomic concerns, though July saw Brent jump more than 20% on renewed US-Iran tensions, leaving crude still below $100 per barrel.
LiveMint Markets also attributed momentum to better-than-expected Q1 earnings and easing AI trade, saying foreign portfolio investors turned buyers after a prolonged selloff. It reported FPIs bought Indian equities worth ₹20,200 crore in July after selling since March.
The outlet cited ICICI Securities research head Pankaj Pandey, who said FPIs have been positive since the second half of June, investing around ₹15,000 crore in the latter half of June and another ₹20,000 crore in July. He added that corporate earnings came in stronger than anticipated, with markets expecting single-digit growth but companies delivering double-digit growth, while elevated crude oil prices remain a key constraint amid uncertainty around US policy rates.
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