BIZ DESK
India’s benchmark equity indices posted modest gains for the second consecutive session on July 30, as investors maintained a cautious yet optimistic stance ahead of key macroeconomic cues and global central bank updates. The session was largely range-bound, reflecting selective buying in frontline stocks and subdued participation across broader segments.
The BSE Sensex rose by 144 points, or 0.18%, to close at 81,482, while the NSE Nifty50 advanced 34 points, or 0.14%, to settle at 24,855. Both indices hovered within a narrow band throughout the trading day, as investors weighed valuation concerns against earnings optimism and strong institutional inflows.
Mid- and Small-Caps Hold Ground
The broader market indices reflected muted yet positive sentiment. The BSE MidCap and SmallCap indices added 0.17% each, supported by stock-specific action in pharmaceuticals, engineering, and defence-related counters. However, market breadth remained neutral, indicating a balance between advancing and declining stocks.
L&T Powers Gains; Tata Motors Drags
Within the Sensex-30 basket, 15 stocks ended in the green while 15 declined. Engineering behemoth Larsen & Toubro (L&T) was the standout performer, rallying over 4.8%, buoyed by a robust project pipeline, upbeat guidance from management, and sustained order wins from defence and infrastructure sectors.
Sun Pharma gained 1.4% amid buying interest in defensive stocks, while power generator NTPC rose 1.2%, supported by expectations of strong summer demand and operational efficiency improvements.
On the flip side, Tata Motors tumbled over 3.4%, reversing recent gains on concerns about margin pressures in the EV segment and a tepid outlook for the JLR business. PowerGrid shed around 1.4%, while Eternal (likely Eternal Energy or a mid-cap name) dipped 0.9%, amid weak quarterly updates and broader sector underperformance.
Sectoral View: Industrials and Tech Shine, Realty Under Pressure
Sectorally, 11 of the 21 BSE sectoral indices closed in the green. Industrials led the rally with a 1.3% gain, buoyed by L&T’s strong show and momentum in capital goods. The Teck and Focused IT indices added over 0.3% each, reflecting selective buying in large-cap software exporters and mid-tier digital services providers.
The FMCG index also edged up 0.3%, underpinned by buying in safe-haven names amid monsoon volatility.
On the losing side, Realty stocks bore the brunt of profit-booking, slipping 1% as investors trimmed exposure amid uncertainty over interest rate movements and input cost pressures. The Services index fell over 0.7%, while Auto declined 0.6%, weighed down by Tata Motors and muted monthly dispatch data from some OEMs.
Outlook: Consolidation Expected Ahead of RBI Policy
Analysts suggest that the markets are likely to remain range-bound in the near term, as investors await domestic macro data, including manufacturing PMI and the upcoming RBI monetary policy review. Volatility may increase with the onset of the Q1 FY26 earnings season, where management commentary on margin outlook and demand sustainability will be closely tracked.
Global cues, including U.S. inflation data and Fed commentary, will also influence sentiment. Meanwhile, FIIs remained net buyers for the second straight session, which lent underlying support to benchmark indices.