The Indian stock market benchmarks — the Sensex and the Nifty 50 — extended their gains for the second consecutive session on Wednesday, July 30, led by Larsen & Toubro (L&T), whose shares surged nearly 5 per cent after better-than-expected Q1 results.
However, mixed global cues, caution ahead of the US Fed policy outcome due later today, and persistent uncertainty over US tariffs as the August 1 deadline nears kept gains in check.
The Sensex ended 144 points, or 0.18 per cent, higher at 81,481.86, while the Nifty 50 settled at 24,855.05, up 34 points, or 0.14 per cent. The BSE Midcap and Smallcap indices rose 0.17 per cent each.
The overall market capitalisation of firms listed on the BSE rose to nearly ₹452.3 lakh crore from ₹451.44 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. What drove the stock market today?
The domestic market ended with slim gains, as sentiment remained cautious due to persisting uncertainty over an India-US trade deal as the August 1 deadline nears.
Reports suggest that both countries will continue their trade negotiations in August, even as Indian imports to the US begin attracting a 26 per cent tariff rate.
Caution ahead of the US Fed policy outcome also influenced market performance, even as the US central bank is widely expected to keep rates unchanged.
Gains in L&T shares kept the market benchmarks in the green zone. The L&T share price jumped 5 per cent a day after the company posted double-digit growth in both bottomline and topline for Q1FY26.
The domestic market is witnessing some short covering ahead of the expiry of the July derivatives series on Thursday.
“Investors turned more stock and sector-specific based on the Q1 results; the industrial segment gained momentum after robust earnings from L&T. The auto sector underperformed, largely due to tariff-related pressures. Investors are now focusing on the US Fed’s policy meeting, as its stance on rates and inflation could shape global sentiment,” said Vinod Nair, Head of Research, Geojit Investments.
2. Top gainers in the Nifty 50 index
Shares of Larsen & Toubro (up 4.68 per cent), Sun Pharma (up 1.51 per cent), and Tata Consumer (up 1.36 per cent) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shares of Tata Motors (down 3.52 per cent), Hero MotoCorp (down 1.95 per cent), and Power Grid Corporation of India (down 1.06 per cent) were the top losers among the 29 stocks that ended in the red in the index.
4. Sectoral indices today
Most sectoral indices ended with losses, with Nifty Realty (down 0.96 per cent), Media (down 0.79 per cent), PSU Bank (down 0.66 per cent), and Auto (down 0.60 per cent) falling by up to a per cent.
The Nifty Bank and Private Bank indices fell 0.13 per cent each, while the Financial Services index ended flat.
5. Most active stocks in terms of volume
Vodafone Idea (30.98 crore shares), Jayaswal Neco Industries (20.11 crore shares), and The New India Assurance Company (8.27 crore shares) were the most active stocks in terms of volume on the NSE.
6. 10 stocks jump over 15% on BSE
Some 10 stocks, including Markolines Pavement Technologies, Bliss GVS Pharma, Omax Autos, Remi Edelstahl Tubulars, and Elegant Floriculture & Agrotech India, surged over 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,158 stocks traded on the BSE, 2,030 advanced, while 1,968 declined. Some 160 stocks remained unchanged.
8. Over 140 stocks hit 52-week highs
As many as 144 stocks, including HDFC Bank, HDFC Asset Management Company, Hitachi Energy India, Torrent Pharmaceuticals, Coromandel International, and Bosch, hit their 52-week highs in intraday trade on the BSE.
9. Over 60 stocks hit 52-week lows
Easy Trip Planners, NIIT Learning Systems, Hexa Tradex, Venkys (India), and Race Eco Chain were among the 66 stocks that hit their 52-week lows during the session on the BSE.
10. Nifty’s technical outlook
According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty remained below the 50 EMA on the daily timeframe. The short-term trend remains slightly weak as the index continues to sustain below this critical moving average.
However, the LKP Securities’ analysts added that the possibility of a meaningful recovery stays intact, supported by a bullish reversal pattern formation and a hidden positive divergence.
“The index may continue to move up towards 25,000–25,200 in the short term, with support placed at 24,750. A break below this level could weaken market sentiment,” said De.
Analysts at Bajaj Broking Research pointed out that the Nifty formed a small, bodied candle with a lower shadow, signalling consolidation after Wednesday’s strong pullback from the 100-day EMA amid an oversold reading on the daily stochastic.
According to Bajaj Broking, the index may consolidate between 24,500 and 25,000 in the coming sessions. A move above 25,000 will open a further pullback towards the key resistance area of 25,250, which is the almost identical high of the last two weeks.
Bajaj Broking said key support is placed at the 24,600–24,400 region, which is the confluence of the previous swing low, the 100-day EMA, and the 61.8 per cent Fibonacci retracement level of the recent rally from 23,935 to 25,669.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
