Nifty Jumps, Sensex Soars: Top Reasons Behind Today’s Market Move – 29th July 2026

Indian equities opened higher on Wednesday, 29 July, with the Nifty 50 tracking a more than 100 point rise in GIFT Nifty, as traders weighed mixed Asian cues, a volatile energy backdrop and a heavy Q1 earnings calendar. Early action was stock specific, with IT names, select midcaps and technical breakouts such as TVS Motor and Radico Khaitan drawing interest.

Market Overview

Index	29 Jul 2026 Open/Indicative	Move & % Change	Comments
Nifty 50	approx. 24,080	+100 pts (approx. +0.4%)	Open indicated gap up by GIFT Nifty amid global cues.
Sensex	approx. 79,300	approx. +0.4%	Tracked Nifty higher, led by large-cap cyclicals and IT.
GIFT Nifty	approx. 24,080	+100 pts (up 0.4%)	Signalled positive start despite mixed Asia trade.

• Nifty 50 previous close at 23,985.35, down 10.61 points, per NSE data.
• Gap-up open driven by Q1 earnings, global tech moves and US Fed policy expectations.
• Broader market sentiment supported by domestic demand narrative and steady DII flows.

Key Movers

Top Gainers (early trade)	Sector	Notable Factor
TVS Motor Company	Auto	White Marubozu pattern, close at ₹3,993.50, up 3.02% on 28 Jul.
Coforge	IT services	White Marubozu, close at ₹1,686, gain of 10.31% on 28 Jul.
Kalyan Jewellers India	Consumer discretionary	White Marubozu, close at ₹608.35, up 7.75%; also closed above VWAP.
Indian Energy Exchange	Power market infra	White Marubozu, close at ₹132.11, up 4.21%.
Eternal	Midcap diversified	White Marubozu, close at ₹308.35, up 4.23%.

Other Notable Stocks	Sector	Notable Factor
Radico Khaitan	Alcoholic beverages	Closed above VWAP at ₹4,289.70 vs VWAP ₹4,184.39.
Jindal Saw	Industrial metals	Closed above VWAP at ₹257.15 vs VWAP ₹252.62.
Pine Labs	Fintech	Above VWAP at ₹152.94 vs VWAP ₹150.72; Jefferies has Buy call.
L&T	Capital goods	Shares up 3.1% post Q1, analysts see scope to ₹5,000.

• Technical strength in TVS Motor, Coforge, Kalyan Jewellers likely attracted momentum traders.
• VWAP closes in Radico Khaitan, Jindal Saw, Pine Labs flagged as bullish by technical scanners.
• L&T reacting to Q1 numbers, with street commentary pointing to further upside.

Sectoral Action

Sector/Index	Direction (approx.)	Key Drivers
Nifty IT	up	Comeback trade as global AI semiconductor rally cools.
Auto	up	Support from TVS Motor and broader consumption resilience.
Consumer discretionary	up	Jewellery and retail names buoyed by technical strength and demand trends.
Capital goods	up	L&T Q1 reaction lifts sentiment in infra and engineering.

• Nifty IT correlation with Philadelphia Semiconductor Index at lowest since 2018.
• Lower correlation shows domestic IT rerating independent of global AI chip cycle.
• Jewellery and specialty retail supported by strong prints in Kalyan Jewellers.

Technical Outlook

Indicator / Pattern	Stocks	Notes
White Marubozu bullish pattern	Coforge, Kalyan Jewellers, Gallantt Ispat, Eternal, Indian Energy Exchange, TVS Motor	Signals open at low, close at high with strong buying.
VWAP breakout	Kalyan Jewellers, Radico Khaitan, Jindal Saw, Pine Labs	Closing above VWAP interpreted as bullish shift.

• Six Nifty 500 stocks appeared on a White Marubozu bullish scanner on 28 Jul.
• Traders often use White Marubozu to identify potential long entries.
• VWAP closes suggest accumulation in select midcaps and consumption names.

Global Cues

Market/Asset	Movement	Notes
Asian equities	mixed	Regional markets traded mixed, limiting upside for Indian indices.
Brent crude	+4%	Spiked on Iran’s surprise attack, reviving energy inflation concerns.
Apple Inc.	+0.72%	Briefly crossed $5.036 trillion valuation, now at $4.98 trillion.
Nvidia Corp.	+0.53%	Valued at $4.78 trillion, stock down 4.45% over past week.

• Strength in Apple supports global tech sentiment, even as AI trade cools.
• Brent’s 4% jump adds to imported inflation worries for India.

Macro And US Fed Watch

Statistic	Value/Change	Context
US Fed funds rate	3.50% to 3.75%	Futures price in hold at July meeting, with hike risk later.
US CPI June	3.5% YoY	Below May 4.2%, still above 2% target.
Energy costs (US)	+15.7% YoY	Inflation risk from Middle East tensions and oil spike.

• Market expects Fed to hold rates for fifth straight meeting, per derivatives pricing.
• Analysts see scope for hikes in September and December if energy stays elevated.
• New US tariffs, including 10% levy on Indian goods, add imported inflation risk.
• “Inflation at 3.5% is still 75% above its 2% target” said Tanvi Kanchan, Anand Rathi.
• Rising US yields could redirect foreign flows from emerging equities to US bonds.

Q1 Earnings Calendar

Company	Sector	Today’s Focus / Notable Factor
Asian Paints	Consumer	Nifty 50 constituent reporting Q1 numbers today.
Adani Enterprises	Conglomerate	Nifty 50 earnings, key for infra and new-age businesses.
Adani Ports	Ports & logistics	Nifty 50 earnings, watched for trade and cargo trends.
Eicher Motors	Auto	Nifty 50 earnings, indicator for premium two-wheeler demand.
Dabur	FMCG	Broader market earnings, business updates already shared.
Bajaj Housing Finance	NBFC	Q1 numbers and business updates in focus.
KPIT Tech	IT services	Under watch after prior profit warning.
L&T	Capital goods	Stock already up 3.1% reacting to Q1 results.

• Nearly 60 key Q1 results due through the day, per exchange schedules.
• Earnings from consumption, infra, IT and financials set tone for sector rotation.

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