Sensex Surges Nearly 889 Points, Nifty Stays Above 24,250 as IT and Metal Stocks Shine

On July 29, the Indian stock market experienced a significant upswing, with the domestic equity indices closing on a high note, buoyed by widespread buying across various sectors. This rally came just ahead of the anticipated policy announcement from the US Federal Reserve. Major sectors such as information technology (IT), fast-moving consumer goods (FMCG), metals, and banking played pivotal roles in driving the benchmark indices up by more than 1%. The BSE Sensex concluded the day at 77,654.60, marking an increase of 888.68 points or 1.16%. Meanwhile, the Nifty 50 index also posted impressive gains, closing at 24,250.20, up by 264.85 points or 1.10%.

The technology sector was particularly influential in this market rally, with the Nifty IT index climbing 2.32%. The Nifty Metal index followed closely with a gain of 2.31%, while the Nifty FMCG index rose by 1.66%. Other sectors, including healthcare, consumer durables, and financial services, also saw positive movements, contributing to the overall market strength. Among the top performers in the Sensex, Hindustan Unilever led the charge with a remarkable gain of 4.59%, followed by Infosys, which rose by 4.18%. Other notable gainers included Trent, Tata Steel, LT, and Bharti Airtel, all of which posted solid increases. On the downside, Adani Ports was the largest decliner, falling by 3.10%, alongside other companies like Mahindra & Mahindra and NTPC, which also closed lower.