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Markets trade firm with around 1% gains amid healthy buying in IT, TECK stocks
Jul-29-2026

Indian equity benchmarks made a firm start on Wednesday, with Sensex and Nifty were trading higher with notable gains of around a percent each in early deals, supported by strong domestic momentum. India’s 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. Strong buying interest in IT, TECK and FMCG counters also aided the domestic markets. Besides, some support came as Foreign institutional investors (FIIs) turned net buyers, purchasing equities worth Rs 755.33 crore on Tuesday.

On the global front, Asian markets were trading mostly lower as concerns over stretched artificial intelligence valuations, rising competition and heavy spending on AI infrastructure rattled investors ahead of key technology earnings and the Federal Reserve’s policy decision. Renewed attacks in the Middle East also pushed oil prices higher, adding to concerns over depleting supplies, inflation and global interest rates.

The BSE Sensex is currently trading at 77565.94, up by 800.02 points or 1.04% after trading in a range of 77333.24 and 77593.59. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.81%, TECK up by 2.34%, FMCG up by 1.49%, Basic Materials up by 0.81% and Metal up by 0.76%, while Realty down by 0.73%, Capital Goods down by 0.60%, Power down by 0.49% and Oil & Gas down by 0.12% were the few losing indices on BSE.

The top gainers on the Sensex were Infosys up by 3.52%, Hindustan Unilever up by 3.15%, Larsen & Toubro up by 3.13%, TCS up by 2.68% and Tech Mahindra up by 1.62%. On the flip side, Interglobe Aviation down by 1.09%, Bharat Electronics down by 1.04%, Adani Ports & SEZ down by 0.47%, Power Grid down by 0.46% and Axis Bank down by 0.39% were the top losers.

Meanwhile, highlighting India’s strong macroeconomic fundamentals, Union Minister Pankaj Chaudhary has said the Indian economy remains resilient with real GDP expanding at over 7 per cent annually over the past three years, supported by robust domestic demand, healthy corporate balance sheets, and sustained fiscal discipline despite global headwinds. He also cited the RBI’s Financial Stability Report (June 2026), which noted that the domestic financial system continues to remain resilient, underpinned by strong balance sheets across banks and non-banking financial institutions.

Referring to the impact of global developments on the Indian currency, Chaudhary said “As a major player in global markets, India’s economy is closely linked with international trends, which influence exchange rate movements. Since the onset of the West Asia conflict, the Indian Rupee (INR) has depreciated by 5.8 per cent against the US Dollar (USD) in FY27 (from February 27 to July 22, 2026).” 

He further noted that high-frequency indicators for the first quarter of FY 2026-27 point to sustained momentum in economic activity and domestic demand, reflecting the continued resilience of the Indian economy. The Index of Industrial Production (IIP) registered year-on-year growth of 4.9 per cent in April 2026 and 5.1 per cent in May 2026, indicating that investment-led industrial growth has remained on track despite elevated global uncertainty.

He said “Industries dependent on imported inputs may face cost pressures. To support stability, the Government is mitigating import-led inflation through duty adjustments, expanding credit access for MSMEs, ensuring affordable financing, attracting long-term foreign direct investment (FDI), promoting trade facilitation and digital platforms, and advancing free trade agreements.”

He also reiterated that the value of the Indian Rupee is market-determined and is not managed within any target, specific level, or trading band. He said the Reserve Bank of India (RBI) continuously monitors developments in the foreign exchange market and intervenes whenever required to address excessive volatility. In addition, the RBI closely tracks global developments that could have an impact on the USD-INR exchange rate.

The CNX Nifty is currently trading at 24208.30, up by 222.95 points or 0.93% after trading in a range of 24136.75 and 24210.95. There were 36 stocks advancing against 13 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Infosys up by 3.77%, Hindustan Unilever up by 3.23%, Larsen & Toubro up by 3.13%, TCS up by 2.86% and Tata Consumer Products up by 2.16%. On the flip side, Bharat Electronics down by 1.03%, Interglobe Aviation down by 1.02%, Power Grid down by 0.53%, Coal India down by 0.48% and Adani Ports & SEZ down by 0.38% were the top losers.

Asian markets were trading mostly in red; Taiwan Weighted lost 1743.07 points or 4.19% to 39,860.29, Nikkei 225 slipped 1604.92 points or 2.57% to 60,760.00, KOSPI dropped 572.67 points or 9.51% to 5,450.99, Jakarta Composite fell 61 points or 1% to 6,069.59 and Shanghai Composite weakened 20.13 points or 0.53% to 3,793.18. On the other hand, Hang Seng rose 357.15 points or 1.39% to 25,668.00 and Straits Times was up by 29.53 points or 0.53% to 5,645.64.
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