New Delhi, Aug. 1 -- The domestic stock market's performance has been remarkably resilient in the recent past despite crude oil price volatility, the ongoing US-Iran conflict, and concerns over possible monetary tightening.

Benchmark Nifty 50 gained 2.2% in July, extending gains for the second consecutive month, while the Nifty Midcap 100 clocked a gain of 1.8%. The Nifty Smallcap 100 outperformed, rising 2.5% for the month.

While the Nifty is down nearly 7% year-to-date, it has clocked gains in three out of the last four months. In April, the index jumped 7.5%, snapping its four-month losing streak, followed by a 2% decline in May. Cumulatively for June and July, Nifty's gains stand at 3.5%.

The uptrend seen in the domestic market ove...