On Tuesday, July 29, the Indian stock market bounced back sharply, ending a three-day losing streak with widespread gains across major indices. Strong buying in select heavyweights and mid-cap counters boosted investor sentiment, with both the Sensex and Nifty posting healthy gains.
Market Performance
- Sensex gained 447 points or 0.55% to close at 81,337.95
- Nifty 50 advanced 140 points or 0.57% to settle at 24,821.10
- During the session, Sensex touched a high of 81,429.88, rising nearly 539 points
The recovery was led by strong buying in large-cap names like Reliance Industries and HDFC Bank. Positive global cues and easing domestic volatility also supported the upward momentum.
Main News Highlights
- Short covering and value buying were the primary triggers for the rebound.
- Market movement was influenced by upcoming derivative expiry and stabilizing global markets.
- Despite global uncertainties, domestic indices showed resilience, with most sectoral indices closing in green.
Top Performers and Sectoral Snapshot
Top Gainers – Nifty 50
- Jio Financial Services: +4.77%
- Reliance Industries: +2.09%
- Asian Paints: +1.97%
Top Losers – Nifty 50
- SBI Life Insurance: −0.93%
- Axis Bank: −0.80%
- TCS: −0.72%
Sectoral Indices Performance
- Nifty Realty: +2%
- Nifty Healthcare & Pharma: Over +1%
- Nifty Oil & Gas: Over +1%
- Nifty Auto: Nearly +1%
- Nifty Bank: +0.24%
- Financial Services Index: +0.32%
Company Details and Volume Movers
Most Active Stocks by Volume (NSE)
- Vodafone Idea: 29.84 crore shares
- Jayaswal Neco Industries: 16.65 crore shares
- RattanIndia Power: 10.4 crore shares
Major Gainers on BSE (15%+ Surge)
- Jayaswal Neco Industries
- Benara Bearings and Pistons
- Hind Rectifiers
- Elegant Floriculture & Agrotech India
- PEARL Polymers
52-Week Highs (BSE)
- Bosch
- HDFC Asset Management Company
- Torrent Pharmaceuticals
- Total stocks hitting new highs: 118
52-Week Lows (BSE)
- TCS
- Colgate Palmolive (India)
- Five-Star Business Finance
- Tejas Networks
- Total stocks hitting new lows: 93
Market Breadth
- Total stocks traded (BSE): 4,157
- Advances: 2,482
- Declines: 1,521
- Unchanged: 154
The broader market outperformed with the BSE Midcap Index rising 0.84% and the Smallcap Index gaining 1.10%. Overall investor wealth increased by over ₹3 lakh crore in a single day as BSE’s total market capitalization surged from ₹448 lakh crore to ₹451 lakh crore.
Key Factors Behind the Rebound
1. Value Buying Returns
- Investors hunted for value in beaten-down stocks across IT, metals, and realty sectors.
- Nifty Realty Index surged nearly 2% after five straight sessions of losses.
2. Volatility Cools Down
- India VIX slipped 2.9% to 11.71, reflecting reduced market fear.
- Lower volatility is often seen as positive for equity investors.
3. Global Markets Show Strength
- Asian indices like Shanghai’s SSE Composite and South Korea’s Kospi were in the green.
- US Futures also traded higher, signaling strength in Wall Street's upcoming session.
Summary
Indian markets ended on a high note with both Sensex and Nifty bouncing back from recent lows. The rally was driven by value buying, positive global cues, and reduced volatility. Broad-based gains across sectors and robust participation in the mid- and small-cap segments reflect strong investor confidence.
With the Nifty reclaiming levels above 24,800 and broader indices showing strength, the Indian equity market looks poised to stabilize after recent choppiness—though investors continue to monitor global developments closely.
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