Sensex soars 889 pts, Nifty ends above 24,250 on IT-led buying spree

Key benchmark indices rallied sharply on Wednesday, with the Nifty closing above the 24,250 mark, led by strong buying in IT, metal and FMCG stocks, while broader markets also advanced. Market sentiment was buoyed by FIIs turning net buyers after four consecutive sessions of selling, easing market volatility, and optimism that the US Federal Reserve would keep interest rates unchanged at its policy meeting.

The S&P BSE Sensex soared 888.68 points or 1.16% to 77,654.60. The Nifty 50 index advanced 264.85 points or 1.10% to 24,250.20.

Infosys (up 4.32%), Bharti Airtel (up 2.32%) and HDFC Bank (up 1.75%) boosted the Nifty higher today.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.78% and the BSE 250 SmallCap Index surged 1.47%.

The market breadth was strong. On the BSE, 2,533 shares rose and 1,705 shares fell. A total of 201 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 4.41% to 12.01.

Numbers to Track:

In the commodities market, Brent crude for September 2026 settlement jumped $3.82 or 4.54% to $87.91 a barrel.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.6600 compared with its close of 95.8200 during the previous trading session.

The yield on India's 10-year benchmark federal paper was up 0.34% to 6.799 as compared with previous close 6.776.

MCX Gold futures for 5 August 2026 settlement rose 0.01% to Rs 1,41,639.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 101.39.

The United States 10-year bond yield gained 0.41% to 4.625.

Global Markets:

Dow Jones futures fell 155 points, signalling a weaker start for Wall Street.

European indices traded mostly higher on Wednesday as upbeat earnings from major banking, luxury and mining companies offset concerns over escalating tensions in the Middle East.

Asian indices ended mixed as investors stayed cautious ahead of the U.S. Federal Reserve's policy decision while monitoring crude oil prices and geopolitical developments.

The Fed is widely expected to leave interest rates unchanged. However, investors will closely scrutinise the policy statement and Fed Chair Kevin Warsh's comments for clues on the outlook for interest rates amid persistent inflation, tariff uncertainty and volatile energy prices.

Overnight, Wall Street ended mixed. The Dow Jones Industrial Average gained on the back of strong corporate earnings, easing oil prices and rotation into sectors beyond technology, while the Nasdaq edged lower as investors pared exposure to large-cap technology stocks ahead of the Fed decision. The Dow rose 537.24 points, or 1.03%, to 52,742.32. The S&P 500 added 0.21% to 7,428.78, while the Nasdaq Composite slipped 0.22% to 24,876.91.

Stocks in Spotlight:

The Nifty IT index climbed 2.32% to 31,123.10, extending its winning streak to a fourth straight session with gains of 9.08%. The rally was driven by renewed buying in Indian software exporters as investors rotated out of AI-linked semiconductor stocks globally. Infosys surged 4.32%, followed by LTIMindtree (2.34%), Tata Consultancy Services (1.75%), HCL Technologies (1.70%), Coforge (1.25%), Wipro (1.20%), Persistent Systems (0.62%), Oracle Financial Services Software (0.56%) and Tech Mahindra (0.42%).

Larsen & Toubro added 2.48% after L&T Energy Hydrocarbon Onshore business has secured a 'major' engineering, procurement and construction (EPC) order from Kuwait Oil Company (KOC). L&T announced its June 2026 quarterly earnings post market hours yesterday. L&T reported 14% rise in consolidated net profit to Rs 4,123 crore on a 7% increase in consolidated revenues to Rs 67,942 crore in Q1 FY27 as compared with Q1 FY26. International revenues stood at Rs 34,393 crore in Q1 FY27, contributing 51% of the company?s total revenues.

Colgate-Palmolive (India) rose 1.72 % after the company?s standalone net profit climbed 7.01% to Rs 343.08 crore on 11.96% increase in revenue from operations to Rs 1,590.56 crore in Q1 FY27 over Q1 FY26.

Gland Pharma jumped 4.97%. The company received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Sugammadex Injection.

Asian Paints rose 0.91%. The company?s consolidated net profit jumped 39.96% to Rs 1,539.25 crore in Q1 FY27 as against Rs 1,099.77 crore in Q1 FY26. Revenue from sales rose 17.89% year on year (YoY) to Rs 10,521.44 crore in Q1 FY27.

Honeywell Automation India surged 7.17% after the company reported its unaudited financial results for the quarter ended 30 June 2026 (Q1 FY27). The company's profit after tax increased 21% year-on-year to Rs 150.7 crore in Q1 FY27 from Rs 124.6 crore in Q1 FY26. On a sequential basis, profit declined 5.6% from Rs 159.7 crore in Q4 FY26. Revenue from operations rose 1.8% year-on-year (YoY) to Rs 1,204.4 crore in Q1 FY27 from Rs 1,183.1 crore in the corresponding quarter last year. Revenue increased 2.0% quarter-on-quarter (QoQ) from Rs 1,180.7 crore in Q4 FY26.

Eris Lifesciences advanced 2.46% after the company?s consolidated net profit jumped 20.68% to Rs 142.39 crore in Q1 FY27, compared with Rs 117.99 crore in Q1 FY26. Revenue from operations grew 12.97% YoY to Rs 873.25 crore during the quarter.

CarTrade Tech slipped 3.67% after the company reported a 20.68% quarter-on-quarter (QoQ) decline in consolidated profit after tax to Rs 51.24 crore in Q1 FY27, compared with Rs 64.61 crore in Q4 FY26. On a year-on-year (YoY) basis, the company's consolidated profit after tax increased 19.52% to Rs 51.24 crore in Q1 FY27, compared with Rs 42.87 crore in the corresponding quarter last year. Revenue from operations stood at Rs 201.16 crore in the quarter ended 30 June 2026, down 0.97% QoQ but up 16.25% YoY.

Craftsman Automation jumped 6.90% after the company?s consolidated net profit surged 116.31% to Rs 150.55 crore in Q1 FY27 compared with Rs 69.60 crore in Q1 FY26. Revenue from operations jumped 36.3% YoY to Rs 2431.58 crore in Q1 FY27.

AGI Greenpac gained 2.03% after the company announced its financial results for the quarter ended 30 June 2026. The company's consolidated net profit increased 11.8% year-on-year to Rs 99.35 crore in Q1 FY27 from Rs 88.85 crore in Q1 FY26. On a sequential basis, net profit declined 13.9% from Rs 115.38 crore in Q4 FY26. Net sales rose 14.2% YoY and 5.8% QoQ to Rs 785.27 crore in the June 2026 quarter.

Pine Labs fell 5.58%. The company?s consolidated net profit surged 308.55% year-on-year (YoY) to Rs 19.57 crore in Q1 FY27 from Rs 4.79 crore in Q1 FY26. Revenue from operations rose 19.64% YoY to Rs 736.92 crore in Q1 FY27 from Rs 615.91 crore in the corresponding quarter of the previous year.

Paradeep Phosphates surged 12.49% after the company reported a 23.93% jump in consolidated net profit to Rs 392.54 crore in Q1 FY27, compared with Rs 316.75 crore in Q1 FY26. Revenue from operations climbed 35.99% YoY to Rs 6,124.25 crore in the quarter ended 30th June 2026.

Phoenix Mills declined 5.94% after the company reported a 26.39% quarter-on-quarter (QoQ) decline in consolidated net profit of the company to Rs 296.86 crore in Q1 FY27, compared with Rs 403.35 crore in Q4 FY26. On a year-on-year (YoY) basis, the company's consolidated net profit rose 23.35% to Rs 296.86 crore in Q1 FY27, compared with Rs 240.69 crore in the corresponding quarter last year. Revenue from operations (net sales) stood at Rs 1,074.94 crore in the quarter ended 30 June 2026, down 12.84% QoQ but up 12.80% YoY.

ACME Solar Holdings advanced 2.95% 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 3.77% 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 rose 2.95% 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 1.32% 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.

TruAlt Bioenergy advanced 2.91% after reporting its financial results for the quarter ended 30 June 2026. The company posted a sharp jump in earnings, driven by strong growth in its ethanol business and the successful integration of its dual-feed ethanol platform. The company's consolidated net profit surged 1,108.3% year-on-year to Rs 57.15 crore in Q1 FY27. On a sequential basis, net profit declined 15.8% from Rs 67.87 crore in Q4 FY26. Net sales more than doubled, rising 106.3% YoY and 5.3% QoQ to Rs 626.88 crore in Q1 FY27.

S H kelkar and Company surged 15.30% after the company?s consolidated net profit jumped 75.99% to Rs 45 crore in Q1 FY27, compared with Rs 25.57 crore in Q1 FY26. Revenue from operations climbed 14.11% YoY to Rs 662.42 crore in Q1 FY27, supported by healthy growth in the Fragrance business and strong performance across geographies in the Flavour segment.

IPO Update:

Manipal Health Enterprises received bids for 1,30,85,100 shares as against 9,00,88,286 shares on offer, according to stock exchange data at 16:57 IST on Monday (27 July 2025). The issue was subscribed 0.15 times. The issue opened today and it will close on 31 July 2026. The price band is set at Rs 560 to Rs 590 per equity share.

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