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Bulls hold tight grip over Dalal Street
Jul-29-2026

Bulls were holding a tight grip over the Dalal Street in early afternoon deals, with both Sensex and Nifty holding strong gains of around a per cent, on the back of heavy buying at IT and TECK counters, despite mixed cues from other Asian markets. Sentiments remained optimistic, as Ministry of Finance in its latest report has said that Indian Public Sector Banks (PSBs) have witnessed a significant improvement in their financial health, with healthy balance sheets, historically high profits and multi-decadal low level of gross non-performing assets (GNPAs).

On the global front, Asian markets were trading mixed, following the mixed cues from Wall Street overnight. Traders also remained cautiously optimistic on hopes for an end to hostilities in the Middle East after the U.S. and Iran continue to hold off on exchanging attacks for the fourth straight day. 

The BSE Sensex is currently trading at 77555.13, up by 789.21 points or 1.03% after trading in a range of 77333.24 and 77653.67. There were 20 stocks advancing against 10 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.43%, TECK up by 2.22%, Metal up by 2.01%, FMCG up by 1.42% and Basic Materials up by 1.30%, while Realty down by 0.51%, Power down by 0.27%, Oil & Gas down by 0.15%, Utilities down by 0.15% and Auto down by 0.05% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 4.36%, Infosys up by 4.26%, Tata Steel up by 2.46%, Larsen & Toubro up by 2.31% and HDFC Bank up by 2.05%. On the flip side, Adani Ports & SEZ down by 2.11%, Mahindra & Mahindra down by 1.53%, Power Grid down by 1.31%, Bharat Electronics down by 0.80% and NTPC down by 0.71% were the top losers.

Meanwhile, amid rising merchandise trade deficit, Minister of State for Commerce and Industry Jitin Prasada has suggested that the deficit should be viewed as a by-product of India's stage of development, investment requirements and dependence on energy imports. Despite the deficit, he pointed that the overall external sector remains stable, underpinned by strong fundamentals that ensure sustainability and resilience in the face of global uncertainties. Besides, he emphasized that the deficit primarily reflects the import requirements of a rapidly expanding economy rather than structural imbalances.

A large share of India's imports is productive in nature, directly contributing to domestic manufacturing capabilities, infrastructure creation, and export competitiveness. These key imports include crude oil, capital goods, electronic goods, machinery, fertilisers, and other intermediate inputs-all essential for manufacturing, industrial expansion, infrastructure development, and energy security. Prasada noted that these imports enhance India's productive capacity and long-term growth potential, rather than being consumption-driven liabilities.

Meanwhile, India’s merchandise exports rose by 15.52% to $40.41 billion in June 2026 as compared to $34.98 billion in June 2025, driven by sustained shipments across key sectors despite broader global economic challenges. Merchandise imports grew by 31% year-on-year to $70.84 billion in June 2026, up from $54.08 billion in June 2025. Trade deficit (difference between imports and exports) widened to $30.43 billion in June 2026 as compared to $19.12 billion in the corresponding period of the previous year.

The CNX Nifty is currently trading at 24210.65, up by 225.30 points or 0.94% after trading in a range of 24136.75 and 24247.80. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were Hindustan Unilever up by 4.22%, Infosys up by 4.02%, Cipla up by 2.80%, Hindalco Industries up by 2.52% and Tata Steel up by 2.47%. On the flip side, Adani Ports & SEZ down by 1.53%, Mahindra & Mahindra down by 1.43%, Power Grid down by 1.30%, Bharat Electronics down by 0.87% and Eicher Motors down by 0.71% were the top losers.

Asian markets were trading mixed; KOSPI dropped 360.42 points or 6.36% to 5,663.24, Taiwan Weighted lost 1564.18 points or 3.91% to 40,039.18, Jakarta Composite plunged 28.41 points or 0.47% to 6,102.18 and Nikkei 225 slipped 1083.92 points or 1.77% to 61,281.00, while Hang Seng advanced 459.15 points or 1.78% to 25,770.00, Straits Times rose 69.85 points or 1.23% to 5,685.96 and Shanghai Composite strengthened 15.16 points or 0.4% to 3,828.47.
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