A volatile session amid monthly F&O expiry saw the benchmark indices end higher on July 30, with Nifty at 24,850 supported by IT, FMCG, capital goods, while selling in auto, PSU Bank, realty weighed.
At close, Sensex was higher by 143.91 points or 0.18 percent at 81,481.86, and the Nifty was up 33.95 points or 0.14 percent at 24,855.05, while BSE Mid and Smallcap indices ended with marginal gains. Investors stayed cautious ahead of Fed rate decision and its commentary later tonight.
On the sectoral front, auto, PSU Bank, realty were down 0.5 percent each, while IT, FMCG, consumer durables, capital goods saw buying.
L&T, Tata Consumer, NTPC, Sun Pharma, Maruti Suzuki were among major gainers on the Nifty, while losers were Tata Motors, Hero MotoCorp, Power Grid Corp, Bajaj Auto and Eternal.
Read More: Hindustan Unilever Q1 Preview: Profit likely to remain flat as margins may see sharp contraction
In stock-specific action, Tata Motors shed over 3% on likely talks for a potential $4.5 billion Iveco deal, L&T shares rose nearly 5 percent on strong Q1 earnings, Star Health and Allied Insurance Company shares added nearly 5 percent as Q1 net premium jumped 12%, Bank of India shares added 2 percent on Q1 profit growth, Triveni Engineering shares fell 6 percent as Q1 consolidated profit declined 86%, GE Vernova T&D India's share up 5 percent on Q1 cheer. Greaves Cotton shares rose 6 percent after Q1 net profit jumped 56% on year and Nilkamal's shares fell 7 percent as Q1 consolidated profit fell 16%.
Around 140 stocks touched their 52-week highs on the BSE, including Sumitomo Chemical India, Hitachi Energy, Schneider Infra, Maharashtra Scooters, EID Parry, Nuvoco Vistas, Navin Fluorine, HDFC AMC, Piramal Enterprises, Bosch, HDFC Bank, Anand Rathi, Shyam Metalics, Torrent Pharma, Laurus Labs, among others. Click to View More
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 81,785.74 | -118.96 | -0.15% |
| Nifty 50 | 25,069.20 | -44.80 | -0.18% |
| Nifty Bank | 54,887.85 | 78.55 | +0.14% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Jio Financial | 315.35 | 4.15 | +1.33% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Asian Paints | 2,502.60 | -43.70 | -1.72% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 7099.30 | 42.25 | +0.60% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Pharma | 22198.70 | -142.50 | -0.64% |
Outlook for July 31
Ajit Mishra – SVP, Research, Religare Broking
Markets traded in a tight range and ended marginally higher amid mixed cues. After a flat start, the Nifty oscillated within a narrow band throughout the session and finally settled at 24,855.05. Sentiment remained subdued due to lingering uncertainty over the trade deal, following the latest statement from the US President about potential tariffs on India, amid delays in finalizing the agreement ahead of the August 1 deadline. Additionally, caution prevailed ahead of the outcome of the FOMC meeting — while no rate change is expected, the Fed's commentary will be closely watched.
On the sectoral front, a mixed trend kept traders active. IT and FMCG ended marginally in the green, while realty and auto declined. The broader market also saw mixed action — the midcap index closed flat, whereas the smallcap index slipped nearly half a percent.
Participants will react to the US Fed Chair’s commentary in early Thursday trades. On the index front, the 25,000–25,100 zone is expected to act as a resistance and may attract fresh selling if the market attempts a rebound, while support is seen around the 24,450–24,550 zone. Given the likelihood of volatile swings, we recommend maintaining a cautious stance and prefer a hedged approach.
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty traded within a narrow range, remaining below the 50 EMA on the daily timeframe. The short-term trend remains slightly weak as the index continues to sustain below this critical moving average. However, the possibility of a meaningful recovery stays intact, supported by a bullish reversal pattern formation and a hidden positive divergence. In simple terms, the index may continue to move up towards 25,000–25,200 in the short term, with support placed at 24,750. A break below this level could weaken market sentiment.
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