Market Close Report, July 29, 2026: Sensex, Nifty Rise 1% As IT Leads Broad-Based Gains Ahead Of Fed

Mumbai, July 29: Indian equity benchmarks ended sharply higher on Wednesday, extending their recovery as broad-based buying across information technology, metals, pharmaceuticals, banking and FMCG stocks lifted investor sentiment. The Nifty 50 closed above the 24,250 mark, while the Sensex gained nearly 889 points, with strong market breadth indicating widespread buying across sectors and stocks. 

At close, the Sensex rose 888.68 points, or 1.16%, to 77,654.60, while the Nifty 50 advanced 264.85 points, or 1.10%, to 24,250.20. Around 2,460 shares advanced on the NSE, while 1,597 declined and 177 remained unchanged, pointing to broad-based participation in the rally. 

IT Leads Market Rally 

Information technology stocks emerged among the key drivers of the benchmark recovery ahead of the US Federal Reserve decision on interest rates later in the day. The strength in IT stocks came alongside gains in metals, pharmaceuticals, telecom, private banking, FMCG and consumer durables, with several sectoral indices rising between 1% and 2%. 

Among Nifty 50 constituents, Jio Financial Services, Hindustan Unilever, Infosys, Hindalco Industries and Larsen & Toubro emerged as the top gainers. The gains reflected buying across a diverse set of sectors, including technology, financial services, consumer goods, metals and capital goods. 

The performance of heavyweight IT stocks was particularly important for the benchmark indices, with Infosys featuring among the top gainers. The recovery in technology stocks provided a significant boost to market sentiment. 

Broader Market Extends Gains 

The broader market also participated in Wednesday’s rally, with mid- and small-cap stocks attracting strong buying interest. The Nifty Midcap 100 index rose 0.8%, while the Nifty Smallcap 100 index advanced 1.5%. 

The stronger performance of small-cap stocks compared with the benchmark indices pointed to increased risk appetite among domestic investors. The positive market breadth also reinforced the strength of the recovery, with substantially more stocks advancing than declining on the NSE. 

The broad-based nature of the gains suggests that the session’s rally was not restricted to a handful of heavyweight stocks. Instead, buying interest was visible across multiple segments of the market, helping the broader indices recover from recent weakness. 

Most Sectors End In Green 

Sectoral performance was firmly positive, with all major indices except realty closing higher. The IT, media, metal, pharma, telecom, private bank, FMCG and consumer durables indices gained between 1% and 2%, reflecting widespread buying across both defensive and cyclical sectors. 

The metal index benefited from gains in stocks such as Hindalco Industries, while the pharmaceutical segment also attracted buying interest. FMCG stocks gained as Hindustan Unilever emerged among the top Nifty 50 performers. 

The strength across multiple sectors helped offset weakness in select pockets of the market. The realty index was the only major sectoral gauge to finish lower, bucking the broader positive trend. 

Top Gainers, Losers In Focus 

Jio Financial Services led the gainers among Nifty 50 stocks, followed by Hindustan Unilever, Infosys, Hindalco Industries and Larsen & Toubro. The performance of these stocks provided support to the benchmark indices and reflected strong investor interest across financial services, FMCG, IT, metals and infrastructure. 

On the other hand, Adani Ports & SEZ, Mahindra & Mahindra, Power Grid Corporation, Eicher Motors and HDFC Life Insurance ended among the top losers. The declines in these stocks, however, failed to derail the broader market rally. 

The mixed stock-specific performance highlighted the importance of sector rotation in Wednesday’s session. 

Nifty Reclaims 24,250, Sensex Rises Over 1% 

The Wednesday rally marked a strong recovery for Indian equities, with the Nifty reclaiming the 24,250 level and the Sensex rising more than 1%. The combination of gains in heavyweight IT stocks and broad-based buying across metals, pharmaceuticals, banking and consumer-facing sectors helped the benchmarks sustain their upward momentum. 

The market’s positive breadth and stronger performance of mid- and small-cap stocks also indicated improved risk appetite. However, investors are likely to remain watchful of global cues, including movements in crude oil prices, developments in the Middle East and the outlook for global interest rates. 

The Nifty’s ability to hold above the 24,250 level, along with continued participation from the broader market, will be crucial for determining whether the latest rebound can develop into a sustained recovery. For now, the broad-based nature of Wednesday’s gains provided some relief to investors after recent volatility, with IT and other key sectors leading the market higher. 

Source

•  NSE
• BSE