Sensex jumps 868 pts; metal shares advance

The headline equity indices traded with strong gains on Wednesday, with the Nifty trading above the 24,200 mark in mid-morning trade. Market sentiment was supported by upbeat corporate earnings, optimism over the earnings outlook, positive global cues, continued foreign fund inflows, and investor focus on the U.S. Federal Reserve's policy decision. Metal stocks advanced after declining in the previous trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, surged 867.73 points or 1.13% to 77,633.65. The Nifty 50 index jumped 250.20 points or 1.05% to 24,235.25.

In the broader market, the BSE 150 MidCap Index rose 0.54% and the BSE 250 SmallCap Index rallied 0.92%.

The market breadth was strong. On the BSE, 2,470 shares rose and 1,351 shares fell. A total of 243 shares were unchanged.

Economy:

Index of Industrial Production (IIP) expanded by 7.3% year-on-year growth in June 2026 up from 5% in May driven by a strong rebound in manufacturing activity and robust growth in the electricity and gas supply segment. Manufacturing output increased 7.8%, while the Electricity & Gas Supply segment recorded a sharp 10.6% growth during the month. Within manufacturing, 19 of the 23 industry groups recorded.

IPO Update:

The initial public offer (IPO) of Manipal Health Enterprises received bids for 33,55,500 shares as against 9,00,88,286 shares on offer, according to stock exchange data at 11:30 IST on Wednesday (29 July 2026). The issue was subscribed 0.04 times.

Buzzing Index:

The Nifty Metal index jumped 2.08% to 12,658.20. The index fell 0.45% in the past trading session.

Steel Authority of India (up 4.24%), Jindal Steel (up 4.23%), Lloyds Metals & Energy (up 3.51%), Welspun Corp (up 3.04%), NMDC (up 2.96%), Tata Steel (up 2.64%), National Aluminium Company (up 2.47%), Hindalco Industries (up 2.20%), JSW Steel (up 2.05%) and Jindal Stainless (up 1.84%) advanced.

Stocks in Spotlights:

ACME Solar Holdings rose 2.21% after the company said it had secured Rs 3,404.57 crore in long-term project financing from Power Finance Corporation (PFC) for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project.

VST Industries slipped 3.37% after its standalone net profit declined 24.42% to Rs 42.42 crore in Q1 FY27, compared with Rs 56.13 crore posted in Q1 FY26. Revenue from operations (excluding excise duty) fell 13.91% year on year (YoY) to Rs 256.46 crore in Q1 FY27.

RailTel Corporation of India advanced 2.54% to Rs 292.25 after the company announced that it has secured a Rs 43.90 crore work order from the Office of the Inspector General of Police (Provisioning), Odisha Police.

Tata Capital added 2.04% after the company reported a 56.32% jump in consolidated net profit to Rs 1,547.38 crore in Q1 FY27, compared with Rs 989.89 crore in Q1 FY26, driven by growth in lending and net interest income. Total revenue from operations rose 15.1% YoY to Rs 8,821.93 crore during the quarter.

Global Markets:

Asian Markets traded mixed as tensions in the Middle East resurfaced after a brief lull, with the U.S. Central Command stating that American forces successfully intercepted missile attacks launched by Iran.

Overnight in the U.S., The Dow Jones Industrial Average advanced 537.24 points, or 1.03%, closing at 52,742.32. The S&P 500 rose 0.21% to settle at 7,428.78, while the Nasdaq Composite fell 0.22% and ended at 24,876.91.

Investors are looking ahead to the Federal Reserve?s interest rate decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon.

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