MARKET OPENS ON STRONG NOTE; NIFTY TRADES ABOVE 24,150 MARK

Published on Jul 29, 2026 09:37

The domestic equity indices opened higher on Wednesday, with the Nifty trading above the 24,150 mark in early trade. Barring the realty sector, all other sectoral indices traded in the green, led by gains in IT, FMCG, and pharma stocks.

At 09:30 IST, the barometer index, the S&P BSE Sensex, surged 691.92 points or 0.90% to 77,457.84. The Nifty 50 index jumped 194.55 points or 0.81% to 24,178.65.

In the broader market, the BSE 150 MidCap Index rallied 0.53% and the BSE 250 SmallCap Index gained 0.65%.

The market breadth was strong. On the BSE, 2,099 shares rose and 865 shares fell. A total of 192 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 755.33 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,664.16 crore in the Indian equity market on 28 July 2026, provisional data showed.

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.

Stocks in Spotlight:

Larsen & Toubro (L&T) rallied 3.13% after the company reported a 14% year-on-year increase in consolidated net profit to Rs 4,123 crore for the quarter ended 30 June 2026, compared with Rs 3,617 crore in the corresponding quarter last year. Revenue from operations rose 6.7% to Rs 67,942 crore in Q1 FY27 from Rs 63,679 crore a year ago.

Paradeep Phosphates jumped 5.35% after the company reported a 23.8% year-on-year increase in consolidated net profit to Rs 393 crore for the quarter ended 30 June 2026, compared with Rs 317 crore in the corresponding quarter last year. Revenue from operations rose 36% to Rs 6,124 crore in Q1 FY27 from Rs 4,504 crore a year ago.

Tata Capital gained 4.85% after the company reported a 56.3% year-on-year increase in consolidated net profit to Rs 1,547 crore in Q1 FY27, compared with Rs 990 crore in Q1 FY26. Total income rose 15% to Rs 8,825 crore in Q1 FY27 from Rs 7,692 crore in the corresponding quarter last year.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper was up 0.04% to 6.779 as compared with the previous close of 6.773.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.7850 compared with its close of 95.8200 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement fell 0.14% to Rs 1,41,428.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.10% to 101.17.

The United States 10-year bond yield rose 0.20% to 4.613.

In the commodities market, Brent crude for September 2026 settlement jumped $3.62 or 4.30% to $87.71 a barrel.

Global Market:

Asian Markets traded mixed as tensions in the Middle East resurfaced after a brief lull, with the U.S. Central Command stating that American forces successfully intercepted missile attacks launched by Iran.

Overnight in the U.S., The Dow Jones Industrial Average advanced 537.24 points, or 1.03%, closing at 52,742.32. The S&P 500 rose 0.21% to settle at 7,428.78, while the Nasdaq Composite fell 0.22% and ended at 24,876.91.

Investors are looking ahead to the Federal Reserve�s interest rate decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon.