The Sensex and the Nifty 50 ended higher on July 29 breaking their three-day losing streak, with gains led by select heavyweights such as Reliance Industries and HDFC Bank.
The Sensex closed with a gain of 447 points, or 0.55 percent, at 81,337.95, while the Nifty 50 settled at 24,821.10, up 140 points, or 0.57 percent.
The mid- and small-cap segments outperformed. The BSE Midcap index rose 0.84 percent, while the Smallcap index jumped 1.10 percent.
Investors’ wealth rose by about ₹4 lakh crore in a single session as the overall market capitalisation of BSE-listed firms increased to nearly ₹452 lakh crore, up from ₹448 lakh crore in the previous session.
The domestic market rebounded from oversold conditions primarily due to short covering ahead of Thursday’s expiry of July derivatives contracts. Investors picked up recently beaten-down stocks, aided by largely positive global cues.
Experts had expected a rebound from oversold territory despite persistent concerns over the delayed India–US trade deal, mixed Q1 earnings, and foreign capital outflows. The medium- to long-term outlook remains optimistic, supported by India’s healthy economic growth prospects, manageable inflation, and favourable monsoon.
“Amidst lingering uncertainties over the ongoing US–India trade negotiations, the domestic equity market staged a modest recovery from intraday lows. Investor sentiment remains cautious ahead of key global events, including policy decisions from the US Fed and the August 1 reciprocal tariff deadline,” said Vinod Nair of Geojit Financial Services.
“Sustenance of this rally is likely to be positive in the near term with an eye on the above details, including Q1 results and this week’s monthly expiry. For the Nifty 50 index, 25,000 to 25,100 is likely to act as resistance at the upper end,” Nair added.
Thirty-six stocks ended in the green on the Nifty 50. The top gainers were Jio Financial Services (up 4.77 percent), Reliance Industries (up 2.09 percent), and Asian Paints (up 1.97 percent).
The biggest laggards were SBI Life Insurance Company (down 0.93 percent), Axis Bank (down 0.80 percent), and TCS (down 0.72 percent).
All sectoral indices ended with gains. Nifty Realty, Healthcare, Pharma, and Oil & Gas rose over 1 percent each. Nifty Bank gained 0.24 percent, while the Financial Services index rose 0.32 percent.
Vodafone Idea (29.84 crore shares), Jayaswal Neco Industries (16.65 crore shares), and RattanIndia Power (10.4 crore shares) were the most actively traded stocks by volume on the NSE.
A dozen stocks, including Jayaswal Neco Industries, Benara Bearings and Pistons, Hind Rectifiers, Elegant Floriculture & Agrotech India, and PEARL Polymers, surged over 15 percent on the BSE.
Out of 4,157 stocks traded on the BSE, 2,482 advanced, while 1,521 declined. Some 154 stocks remained unchanged.
As many as 118 stocks, including Bosch, HDFC Asset Management Company, and Torrent Pharmaceuticals, hit their 52-week highs in intraday trade on the BSE.
(By arrangement with livemint.com)
