Sensex Today Rallies 889 Points | Nifty Above 24,200 | 3 Reason Why Indian Share Markets Are Rising

Wed, 29 Jul Closing

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Although the benchmark indices opened higher, they traded positive throughout the session and ultimately closed green.

Indian equity benchmarks indices, Sensex and Nifty50 surged as sharp gains in IT, FMCG, and metal shares supported.

At the closing bell, the BSE Sensex  closed points 889 higher (up 1.1%)

Meanwhile, the NSE Nifty closed 265 points higher (up 1.1%)

You can also visit our live blog section for real-time updates and deeper insights into the market.

HUL, Infosys, Trent were the top gainers today.

Bharat Elec, M&M, Power Grid Corp on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,303 with 212 points higher at the time of writing.

The BSE 150 Midcap index is trading 0.7% higher and the BSE 250 SmallCap index is trading 1.4% higher.

Sectoral indices were trading mixed today with IT sector and metal sector witnessed buying. Meanwhile, stocks in auto sector and services sector witnesses selling pressure.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at Rs 95.6 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 1,41,475 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at 2,16,900 per 1 kg.

3 reasons why Indian share markets are rising:

#1 Buying in IT Stocks

IT stocks continued their strong rally, with the IT index gaining 2.8% and extending its three-day rise to 8.5%. Shares of Infosys and Coforge led the gains. Investors shifted towards Indian IT companies as enthusiasm for AI-related chip stocks cooled, boosting sentiment in the sector.

# 2 FII Buying

Foreign institutional investors (FIIs) were net buyers of Rs 755 crore worth of Indian equities on Tuesday. This marked their first net buying session in five trading days. The return of FII inflows helped improve overall market sentiment.

#3 Fed Likely to Keep Rates Unchanged

Investors expect the US Federal Reserve to leave interest rates unchanged at its policy meeting. However, markets will closely watch the Fed's comments for clues on future rate decisions, as inflation remains a concern. A cautious or hawkish outlook could influence global market sentiment.

Speaking of stock markets, Rahul Shah, Research Analyst at Equitymaster, highlights the risks of rising valuations as investor money continues to flow into popular stocks and index funds.

He emphasizes that while passive investing is effective, investors should not ignore valuations, as even great assets can become poor investments when bought at excessive prices.

Watch the video below to know more.

Phoenix Mills Q1 Results

Shares of Phoenix Mills came into focus after the company reported its Q1 business update.

Phoenix Mills reported a 23% year-on-year increase in net profit to Rs 3.94 bn for the quarter ended June 30, 2026 (Q1 FY27), compared with Rs 3.20 bn in the corresponding quarter last year. Revenue grew 12.8% year-on-year to Rs 10.75 bn, up from Rs 9.53 bn in Q1 FY26.

EBITDA rose 13.8% year-on-year to Rs 6.42 bn, compared with Rs 5.64 bn in the year-ago period.

On a sequential basis, however, performance softened, with net profit declining 19% from Rs 4.86 bn in Q4 FY26 to Rs 3.94 bn in Q1 FY27.

Suzlon Energy Q1 Results

Shares of Suzlon Energy came into focus after the company reported its Q1 business update.

Suzlon Energy reported a 6% year-on-year decline in net profit to Rs 3.05 bn for the June quarter of FY27, compared with Rs 3.24 bn in the corresponding period last year.

Revenue increased 22% year-on-year to Rs 38.19 bn, up from Rs 31.17 bn a year earlier.

The company delivered 506 MW during the quarter, marking a 14% year-on-year increase. Its EPC (engineering, procurement, and construction) business also expanded, with its share rising to 32% from 22% in Q1 FY26.

To know what's moving the Indian stock markets today check out the most recent share market updates here.

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Indian Share Market Update: Top Gainers and Losers