Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Tuesday, July 29, snapping their three-day losing streak, on gains led by select heavyweights, such as Reliance Industries and HDFC Bank.
The Sensex ended with a gain of 447 points, or 0.55 per cent, at 81,337.95, while the Nifty 50 settled at 24,821.10, up 140 points, or 0.57 per cent.
The mid- and small-cap segments outperformed. The BSE Midcap index rose 0.84 per cent, while the Smallcap index jumped 1.10 per cent.
Investors’ wealth rose by about ₹4 lakh crore in a single session as the overall market capitalisation of BSE-listed firms grew to nearly ₹452 lakh crore from ₹448 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Why did the stock market rise today?
The domestic market rebounded from an oversold condition primarily due to short covering ahead of Thursday’s expiry of July derivatives contracts.
Investors bought recently beaten-down stocks amid largely positive global cues.
Experts expected the market to rebound from oversold territory despite persistent concerns over a delayed India-US trade deal, mixed Q1 earnings, and foreign capital outflow. The medium—to long-term outlook for the market remains bright due to the prospects of the country’s healthy economic growth, comfortable inflation, and healthy monsoon.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
