Sensex, Nifty trade flat ahead of US Fed meet; L&T gains, Tata Motors falls

L&T, JSW Steel, NTPC, Bharti Airtel, and Bharat Electronics were the top gainers on the Nifty.

Benchmark indices Nifty and Sensex were off to a flat start on July 30 as sentiment took a hit following US President Donald Trump’s threat of steeper tariffs on Indian goods, with uncertainty over a trade deal continuing to linger. Meanwhile, investors will keep a close watch on the US Fed’s policy meeting, where rates are expected to remain unchanged.

Tata Motors was the worst performer on the Nifty, while L&T shares surged 4 percent on strong Q1. At about 9:30 am, the Sensex was up 98.14 points or 0.12 percent at 81,436.09, and the Nifty was up 27.55 points or 0.11 percent at 24,848.65. About 1427 shares advanced, 766 shares declined, and 142 shares were unchanged.

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"The technical bounce back in Nifty by 140 points yesterday is unlikely to continue in the unfavourable near-term market scenario. Such bounce-backs happen in an oversold market. The major drag on the market continues to be the negative news on the India-US trade front. President Trump’s comment that “ India may have to pay 20-25 % tariff” is very negative from the short-term market perspective,"  V K Vijayakumar of Geojit Investments said. "Sustained FII selling in the cash market for the seventh consecutive trading day is another headwind for the market, he added.

At market open on July 30, sectoral indices were trading mixed. The India VIX was up 1.3 percent at 11.68, indicating a slight rise in market volatility. Among the laggards, Nifty Auto slipped 0.61 percent, while Nifty Bank and Nifty Midcap 100 were down 0.09 percent and 0.08 percent, respectively. Private banks and oil & gas stocks were also marginally in the red. On the other hand, buying was seen in select sectors. Nifty Infra gained 0.51 percent, Nifty Media rose 0.69 percent, and Nifty Smallcap 100 was up 0.47 percent. Nifty Metal, Pharma, Energy, and PSU Bank indices also posted modest gains. The Nifty FMCG and Nifty Realty indices were flat, while Nifty IT was little changed. Consumer durables inched up 0.22 percent.

As for individual stocks, Ather Energy gained over 2 percentS after the electric vehicle maker signed an MoU with the Commerce Ministry to speed up growth in clean mobility and advanced manufacturing, as part of the Build in Bharat initiative led by Startup Policy Forum (SPF), a government statement said on July 29. Following the development, Nomura and HSBC initiated coverage with a buy on the counter.

Shares of Asian Paints fell over a percent after the company reported a 6 percent decline in net profit at Rs 1,100 crore for the quarter ended June 30, 2025, as against Rs 1,170 crore a year ago. The firm's revenue fell marginally to Rs 8,939 crore in Q1FY26 as against Rs 8,970 crore in Q1FY25. Jefferies and HSBC have maintained their buy rating on the counter.

Technical View

Nifty’s strong short-covering rally and close above 24,800 signal a tentative short-term bottom, but a decisive move above 24,850 is crucial for sustained upside momentum. However, as the index trades below the key moving-average cluster near 25,000 — which also acts as a psychological barrier — sellers may continue to dominate on higher levels. Until Nifty reclaims and holds above the 25,000 mark, the broader bias will remain cautious, and rallies could be used to initiate fresh shorts rather than interpreted as a structural reversal. With key events like the FOMC meeting and monthly expiry ahead, the index may witness volatile swings in both directions.

L&T, JSW Steel, NTPC, Bharti Airtel, and Bharat Electronics were the top gainers on the Nifty. Laggards on the index included Tata Motors, HUL, Dr Reddy's, Coal India, and ICICI Bank.

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