Share Market Today: Sensex Soars 889 Points, Nifty Closes Above 24,250; IT and Metal Rally While Adani Ports, Auto Drag

Indian Stock Market Today |Indian benchmark indices ended sharply higher on Wednesday, 29 July 2026, supported by broad-based buying across IT, metals, FMCG, pharma and financial stocks.

The Nifty recorded its strongest single-day percentage gain since 12 June. Indian equities outperformed several Asian markets as investors rotated away from crowded AI-chip trades and reassessed Indian IT-service companies after their sharp correction. Fourteen of the 16 major sectoral indices closed higher, while midcap and smallcap indices gained approximately 0.8% and 1.5%, respectively.

At the Closing Bell:

• BSE Sensex: Advanced 888.68 points to close at 77,654.60 (+1.16%)
• Nifty 50: Gained 264.85 points to settle at 24,250.20 (+1.10%)
• Bank Nifty: Rose 450.30 points to close at 57,205.90 (+0.79%)

Why Did the Indian Stock Market Move Today?

Strong IT Rally Led the Market Recovery

The IT index surged 2.32%, becoming the strongest-performing major sector of the day.

Indian IT companies benefited as investors shifted away from heavily valued global AI-chip companies towards traditional technology-service businesses. Infosys, TCS, HCL Technologies and Wipro recorded strong gains as investors reassessed AI-related disruption risks and found valuation comfort following the sector’s steep correction.

Broad-Based Buying Supported the Rally

The market advance was not restricted to technology stocks. Metal, FMCG, pharma, consumer durables and financial-services indices gained more than 1% each.

Positive market breadth also confirmed broad participation, with more than 2,100 stocks advancing on the NSE against approximately 1,180 declines.

HUL Rebounded Sharply After Tuesday’s Sell-Off

Hindustan Unilever gained 4.70%, recovering a significant portion of its nearly 7% fall in the previous session.

Several brokerages remained constructive on the company’s medium-term growth prospects, citing expectations of volume recovery, improving rural demand, healthy cash flows and possible margin improvement despite near-term input-cost pressure.

Foreign Buying and Rupee Appreciation Improved Sentiment

Foreign institutional investors turned net buyers on Tuesday after four consecutive sessions of selling, purchasing approximately ₹755 crore worth of Indian equities.

The rupee also strengthened to a near three-week high, providing additional support to foreign-investor sentiment and helping domestic markets outperform weaker Asian peers.

Investors Awaited the US Federal Reserve’s Decision

Investors remained focused on the US Federal Reserve’s monetary-policy announcement due later in the day.

The central bank was widely expected to keep interest rates unchanged. However, its commentary on inflation, geopolitical risks and the future direction of rates remained important for global equity markets.

Rising Crude Prices Failed to Derail the Rally

Crude prices moved higher amid renewed US-Iran tensions. Despite this, domestic equities sustained their gains as strong buying in IT, metals and consumption-oriented companies outweighed concerns regarding higher energy costs.

Market Overview – Sector & Stock Action Summary

Indian markets witnessed a strong, broad-based recovery, with the Nifty closing comfortably above 24,250 and the Sensex gaining nearly 900 points.

IT and metal stocks led the advance, while FMCG, pharma, consumer durables and financial stocks also recorded healthy buying. Energy ended almost unchanged, while Auto and Realty were the only major sectors shown in the latest data to close marginally lower.

The broader markets participated in the rally, with the Nifty Midcap 100 rising approximately 0.8% and the Nifty Smallcap 100 advancing around 1.5%. Market volatility also eased, with India VIX declining by more than 4% to approximately 12.01.

Key Sector Performance Snapshot

• IT: +2.32% → Led the rally as investors rotated towards Indian IT-service companies amid a correction in global AI and semiconductor stocks.
• Metal: +2.31% → Strong risk appetite and broad-based buying supported major metal companies.
• FMCG: +1.66% → Hindustan Unilever’s sharp rebound, along with buying in other consumption stocks, lifted the sector.
• Pharma: +1.44% → Defensive buying and positive market breadth supported pharmaceutical companies.
• Consumer Durables: +1.43% → Gained as investors accumulated consumption-oriented stocks.
• Financial Services: +1.01% → Buying in banks and financial companies supported the benchmarks, while Bank Nifty advanced 0.79%.
• Energy: +0.02% → Ended nearly unchanged as selective buying was offset by concerns over rising crude prices.
• Auto: -0.06% → Closed marginally lower due to selective profit-booking in major automobile stocks.
• Realty: -0.33% → Underperformed the broader market and ended as the weakest major sector.

Top Gainers

• JIOFIN: +5.23% at ₹249.48 → Led the Nifty gainers after strong Q1FY27 performance and growth across lending, payments, insurance and asset management.
• HINDUNILVR: +4.70% at ₹2,117.80 → Rebounded after the previous session’s sharp decline as investors remained optimistic about volume recovery, rural demand and medium-term growth.
• INFY: +4.51% at ₹1,155.60 → Advanced as investors reassessed AI-related disruption concerns and accumulated Indian IT-service stocks after their recent correction.

Top Losers

• ADANIPORTS: -3.10% at ₹1,719.70 → Declined despite strong quarterly profit and revenue growth, indicating profit-booking after expectations were priced in.
• M&M: -1.51% at ₹3,221.80 → Faced stock-specific profit-booking as the Auto index ended marginally lower.
• POWERGRID: -0.86% at ₹282.85 → Declined amid selective selling in utility and power-transmission stocks, with no major fresh company-specific trigger.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 191 points higher at 24,176 reached a high of 24,283 and closed at 24,250.

• Immediate Support: 24,100
• Immediate Resistance: 24,400

BANK NIFTY: Opened 371 points higher at 57,126, reached a high of 57,315 and closed at 57,205.

• Immediate Support: 57,000
• Immediate Resistance: 57,500

World Markets, Crude & Gold Prices

Global Equities:

Global markets traded on a cautious and mixed note as investors awaited the US Federal Reserve’s policy decision and major technology earnings. Asian markets remained under pressure after a sharp sell-off in semiconductor and AI-linked stocks, particularly in South Korea. European markets traded largely flat to marginally lower as weakness in technology shares offset gains in energy and select corporate earnings-driven stocks. US futures were mixed, with the S&P 500 and Nasdaq futures edging higher while Dow futures slipped slightly.

Crude Oil:

Brent crude traded at $90.468 per barrel, up 4.55%, rebounding sharply as renewed US–Iran tensions revived concerns over Middle Eastern supply disruptions. Reports of US and Saudi strikes against Iran-backed groups, intercepted Iranian missile attacks and continued restrictions on shipping through the Strait of Hormuz supported prices. A larger-than-expected decline in US crude inventories and expectations that OPEC+ could pause further output increases also strengthened the rally. Higher crude prices are negative for India as they may increase inflation, raise the import bill, pressure the rupee and reduce margins for fuel-intensive companies.

Gold Prices:

Gold traded at $4,032.03 per ounce, up 0.09%, recovering marginally as dip-buying emerged near the psychologically important $4,000 level. Renewed geopolitical tensions also provided some safe-haven support. However, gains remained limited as investors avoided aggressive positions ahead of the Federal Reserve’s interest-rate decision and guidance on future monetary policy. Gold may remain volatile depending on the Fed’s commentary, movements in the US dollar and further developments in the Middle East.

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