MARKET WRAP | WEDNESDAY, 29 JULY 2026 · CLOSING BELL
NIFTY 50
24,250.20
▲ +264.85 (+1.10%)
SENSEX
77,654.60
▲ +888.68 (+1.16%)
BANK NIFTY
~57,600
▲ +0.79%
INDIA VIX
~11.56-12.00
▼ -4% to -8% (fear eases)
RUPEE / USD
~95.66-95.85
▲ +0.3-0.4% (strengthens)
BRENT CRUDE
~$85.77-87.80
▲ +4.4% (spikes on supply fears)
📌 STORY 01 · BIGGEST GAIN IN 7 WEEKS; NIFTY SURGES 265 PTS
🔻 Wednesday's Session: Indian equity benchmarks ended sharply higher, registering their biggest single-day gain in seven weeks, as IT stocks led a broad-based rally buoyed by FIIs turning net buyers after four consecutive sessions of selling and optimism ahead of the U.S. Federal Reserve's policy decision [citation:1][citation:3].
The Nifty 50 jumped 264.85 points (1.10%) to settle at 24,250.20, while the Sensex surged 888.68 points (1.16%) to close at 77,654.60 [citation:1][citation:3].
🔵 Key Drivers: The Nifty IT index surged over 2.7-3.32%, extending its three-day rally to 8.5% [citation:2][citation:3]. Investors rotated out of crowded global AI trades into Indian IT stocks, viewed as relatively insulated [citation:2][citation:4]. FIIs turned net buyers after four sessions of selling, purchasing shares worth ₹755 crore [citation:2][citation:4]. The India VIX fell over 4%, easing fear [citation:4][citation:5].
✅ Market Performance: All sectoral indices ended in the green except Auto and Realty [citation:3]. Nifty Midcap 100 gained 0.57%, Smallcap 100 rose 0.75% [citation:2][citation:4]. Market breadth was strong with 2,460 advances vs 1,597 declines [citation:3][citation:4].
🏦 STORY 02 · BANKING PACK REBOUNDS; NIFTY BANK UP 0.79%
The Nifty Bank index rose 0.79% to close near 57,600, recovering from the previous session's losses [citation:3].
📊 Sector Performance: Nifty IT (+2.8-3.32%) was the top gainer, followed by Nifty Metal (+2-3%) and Nifty Financial Services (+1%). Nifty Realty (-0.33%) and Auto (-0.06%) were the only losers [citation:3][citation:4].
⚠️ Outlook: India VIX fell over 4% to ~12.00, signaling reduced near-term volatility expectations [citation:4][citation:5].
🇮🇳 STORY 03 · RUPEE STRENGTHENS ON IMPROVING RISK APPETITE
The rupee strengthened by 10-15 paise to trade around 95.66-95.85 against the US dollar on Wednesday, supported by FII inflows and improving risk appetite [citation:4].
The currency traded in a range of 95.85-96.20 during the session. The rally was supported by optimism over the U.S. Federal Reserve's policy decision and a decline in global crude oil prices [citation:2][citation:4].
🔥 SECTOR PERFORMANCE · 29 JULY 2026
▲ NIFTY IT+2.8% to +3.32% (top gainer)
▲ NIFTY METAL+2% to +3%
▲ NIFTY FINANCIAL SERVICES+1%
▲ NIFTY BANK+0.79%
▲ NIFTY MIDCAP 100+0.57%
▲ NIFTY SMALLCAP 100+0.75%
▼ NIFTY REALTY-0.33%
▼ NIFTY AUTO-0.06%
📈 NOTABLE STOCK MOVERS · 29 JULY
INFOSYS▲ +4% (top gainer)
COFORGE▲ +3.6%
SWIGGY▲ +7%
PARADEEP PHOSPHATES▲ +11%
TCS▲ +3%
HCL TECHNOLOGIES▲ +2%
💰 FII / DII FLOWS (28 JULY 2026)
🏦 FPIs (Cash market)▲ +755 Cr
🏛️ DIIs (Cash market)▲ +2,947 Cr
🌐 GLOBAL CUES & GEOPOLITICS
🕊️ US‑Iran tensionsStrikes paused; diplomacy progresses
🛢️ Brent crude$85.77-87.80 ▲ +4.4%
🇺🇸 Fed policyDecision due 29 July
📉 India VIX~12.00 ▼ -4%
📐 TECHNICAL PICTURE · AFTER 29 JULY CLOSE
🔴 NIFTY RES: 24,360 → 24,400 → 24,700
🟢 NIFTY SUP: 24,130 → 24,100 → 23,900
🇮🇳 RUPEE RANGE: 95.50 / 96.20
🛢️ BRENT: $85 support | $96 resistance
📊 India VIX fell over 4% to ~12.00, signaling reduced near-term volatility expectations amid improving risk appetite and FII inflows [citation:2][citation:4].
📡 RADAR: WHAT TO WATCH · 30 JULY – 1 AUG 2026
🕊️ US-Iran ceasefire talks — HIGH: any breakthrough could sustain the rally
🛢️ Crude oil price — HIGH: sustained below $90 is positive for India
📊 Q1FY27 earnings — HIGH: more results due
📉 FII flow trend — HIGH: ₹755 Cr buying on Tuesday
🏦 Fed, BoE, BoJ meetings — HIGH: central bank decisions this week
🛢️ Crude oil price — HIGH: sustained below $90 is positive for India
📊 Q1FY27 earnings — HIGH: more results due
📉 FII flow trend — HIGH: ₹755 Cr buying on Tuesday
🏦 Fed, BoE, BoJ meetings — HIGH: central bank decisions this week
📌 BOTTOM LINE · WEDNESDAY, 29 JULY 2026 — "BIGGEST GAIN IN 7 WEEKS"
Indian equity benchmarks ended sharply higher on Wednesday, registering their biggest single-day gain in seven weeks, as IT stocks led a broad-based rally buoyed by FIIs turning net buyers after four consecutive sessions of selling and optimism ahead of the U.S. Federal Reserve's policy decision [citation:1][citation:3].
✅ Positives: IT index surged 2.8-3.32% [citation:2][citation:3]. FIIs turned net buyers with ₹755 crore inflows [citation:2][citation:4]. India VIX fell over 4% to ~12.00 [citation:4][citation:5]. Market breadth was strong with 2,460 advances [citation:3][citation:4].
⚠️ Negatives: Realty (-0.33%) and Auto (-0.06%) ended in the red [citation:3]. Brent crude spiked ~4.4% to $87-88 on renewed supply fears [citation:3][citation:4].
🎯 What's next: Nifty support at 24,130–24,100, resistance at 24,360–24,400. A sustained move above 24,360-24,400 could extend the pullback toward 24,550-24,700 [citation:3]. All eyes on US-Iran ceasefire negotiations, crude oil movement, and the Fed policy decision [citation:2][citation:4].
