NIFTY TRADES ABOVE 24,200 LEVEL; IT SHARES EXTENT RALLY FOR 4RD DAY

Published on Jul 29, 2026 10:38

The headline equity indices traded with strong gains on Wednesday, with the Nifty trading above the 24,200 mark in morning trade. IT stocks extended their rally for the fourth consecutive session, supported by sustained buying amid upbeat corporate earnings and optimism over the sector`s outlook. Positive global cues, continued foreign fund inflows, and investor focus on the U.S. Federal Reserve`s policy decision also lifted overall market sentiment.

At 10:30 IST, the barometer index, the S&P BSE Sensex, surged 853.19 points or 1.11% to 77,619.11. The Nifty 50 index jumped 241.30 points or 1% to 24,226.55.

In the broader market, the BSE 150 MidCap Index rose 0.46% and the BSE 250 SmallCap Index rallied 0.83%.

The market breadth was negative. On the BSE, 2,436 shares rose and 1,150 shares fell. A total of 234 shares were unchanged.

Earnings To Watch:

ACME Solar Holdings, Adani Enterprises, Adani Ports and Special Economic Zone, ADF Foods, Aequs, Apcotex Industries, Asian Paints, Bajaj Housing Finance, BlackBuck, CarTrade Tech, Chalet Hotels, Colgate-Palmolive (India), Craftsman Automation, Dabur India, Devyani International, Eicher Motors, eMudhra, Eris Lifesciences, Force Motors, Gokul Agro Resources, Garden Reach Shipbuilders & Engineers, HeidelbergCement India, Hexaware Technologies, Honeywell Automation India, Indostar Capital Finance, Jammu & Kashmir Bank, JK Lakshmi Cement, KPIT Technologies, Karnataka Bank, Laxmi Organic Industries, Maharashtra Scooters, MAS Financial Services, MOIL, Meghmani Organics, MTAR Technologies, PCBL Chemical, Procter & Gamble Hygiene and Health Care, Piramal Pharma, Prestige Estates Projects, Quess Corp, Redington, Sharda Cropchem, Star Health and Allied Insurance Company, Syngene International, Syrma SGS Technology, TBO TEK, TeamLease Services, Thangamayil Jewellery, Timex Group India, Triveni Engineering & Industries, V-Guard Industries, Vinati Organics, Vintage Coffee and Beverages, Waaree Energies, and Zensar Technologies are scheduled to announce their quarterly earnings today.

Economy:

Index of Industrial Production (IIP) expanded by 7.3% year-on-year growth in June 2026 up from 5% in May driven by a strong rebound in manufacturing activity and robust growth in the electricity and gas supply segment. Manufacturing output increased 7.8%, while the Electricity & Gas Supply segment recorded a sharp 10.6% growth during the month. Within manufacturing, 19 of the 23 industry groups recorded.

Buzzing Index:

The Nifty IT index climbed 2.04% to 31,040.35. The index soared 8.78% in the four consecutive trading sessions.

Coforge (up 4.42%), Infosys (up 3.86%), LTM (up 2.77%), Persistent Systems (up 2.74%), Tata Consultancy Services (up 2.44%), Oracle Financial Services Software (up 2.13%), Wipro (up 2.06%), HCL Technologies (up 1.78%), Tech Mahindra (up 1.42%) and Mphasis (up 0.90%) advanced.

Stocks in Spotlight:

The Phoenix Mills slipped 5.52%. The company reported a 23.2% year-on-year increase in consolidated net profit to Rs 297 crore in Q1 FY27, compared with Rs 241 crore in Q1 FY26. Revenue from operations rose 12.8% to Rs 1,075 crore in Q1 FY27 from Rs 953 crore in the corresponding quarter last year.

S H Kelkar surged 16.09% after the company reported a 77.3% year-on-year increase in consolidated net profit to Rs 45.4 crore in Q1 FY27, compared with Rs 25.6 crore in Q1 FY26. Revenue from operations rose 13.9% to Rs 662 crore in Q1 FY27 from Rs 581 crore in the corresponding quarter last year. The company`s quarterly profit included a one-time gain of Rs 30 crore.