Market Close Report Today, July 30: Sensex, Nifty Rise As Autos Rev Up Benchmarks Amid Fed Uncertainty 

Mumbai, July 30: Indian equity benchmarks ended higher on Thursday, with late-session buying lifting the Sensex by more than 273 points and pushing the Nifty 50 above the 24,300 mark in a volatile trading session. The market remained under pressure for much of the day amid mixed global cues and uncertainty over the U.S. Federal Reserve’s interest-rate outlook, before a late recovery helped the benchmarks finish in positive territory. 

The Sensex closed 273.55 points, or 0.35%, higher at 77,928.15, while the Nifty 50 gained 66.95 points, or 0.28%, to settle at 24,317.15. 

Market breadth remained weak despite the benchmark gains, with 1,620 shares advancing against 2,408 declining stocks, while 188 shares ended unchanged. The broader market also underperformed the frontline indices, with the Nifty Midcap index falling 0.4% and the Nifty Smallcap index declining 0.6%. 

Auto Stocks Lead Sectoral Gains 

The Nifty Auto index emerged as the best-performing sectoral gauge, climbing 1.6%, supported by gains in several heavyweight automobile stocks. 

Mahindra & Mahindra, Eicher Motors and Maruti Suzuki were among the biggest gainers on the Nifty 50, while Coal India and Tech Mahindra also featured among the top performers. 

The strength in auto stocks came amid investor interest in the sector, with positive stock-specific developments and expectations of resilient domestic demand supporting sentiment. 

Eicher Motors gained after the Royal Enfield maker reported a better-than-expected June-quarter profit, helped by strong domestic motorcycle demand. Mahindra & Mahindra also remained in focus following its quarterly earnings, while Maruti Suzuki contributed to the broader strength in the auto space.  

Realty Stocks Drag Broader Market 

On the sectoral front, the Nifty Realty index was the biggest laggard, plunging 2%. 

There was underperformance of the broader market, with mid- and small-cap indices ending lower despite gains in the benchmark indices. 

The Nifty Midcap index declined 0.4%, while the Nifty Smallcap index fell 0.6%, highlighting a cautious approach towards broader market stocks. 

Adani Ports, Shriram Finance Among Top Losers 

On the Nifty 50, Adani Ports, Shriram Finance, HDFC Life, UltraTech Cement and Jio Financial were among the biggest losers. 

Adani Ports led the declines, while financial stocks also faced selling pressure. Weakness in select heavyweight stocks kept the broader market gains in check and contributed to the negative market breadth. 

The divergence between the benchmark indices and broader market gauges suggested that buying interest remained selective, with investors favouring specific large-cap stocks and sectors rather than taking broad-based positions. 

Global Cues, Fed Outlook Keep Investors Cautious 

The domestic market remained volatile as investors assessed mixed global signals following the U.S. Federal Reserve’s decision to keep interest rates unchanged. 

While the decision was widely expected, uncertainty around the future path of monetary policy continued to influence global risk appetite. Investors also remained focused on movements in U.S. bond yields, the dollar and crude oil prices, as well as foreign fund flows. 

Despite the cautious backdrop, late buying in select large-cap stocks helped the Sensex and Nifty recover from the day’s weakness and close higher. 

Nifty Holds Above 24,300 

Overall, the session reflected a mixed market trend, with the benchmark indices ending higher while broader markets and market breadth remained weak. 

The Nifty’s close above 24,300 and the Sensex’s gain of more than 273 points offered some relief to investors after the day’s volatility. However, the underperformance of mid- and small-cap stocks and the sharp decline in the Realty index pointed to caution. 

With the June-quarter earnings season underway and global markets still sensitive to Fed policy signals, investors are likely to remain selective, with stock-specific developments and sectoral trends driving market action in the near term. 

Source

• NSE
• BSE