Nifty settles above 24,850; Sensex ends 144 pts higher; IT shares advance

Business Standard

30-07-2025

The domestic equity benchmarks ended with minor gains on today. The upbeat sentiment was bolstered by strong quarterly earnings from Larsen & Toubro (L&T), while investors remained cautious ahead of the U.S. Federal Reserves policy outcome. Market participants also kept a close eye on developments surrounding the India-US trade deal. The Nifty settled above the 24,850 mark after hitting the days low of 24,771.95 in mid-morning trade.
IT, FMCG and consumer durables shares advanced, while realty, media and PSU bank shares corrected.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 143.91 points or 0.18% to 81,481.86. The Nifty 50 index added 33.95 points or 0.14% to 24,855.05.
In the broader market, the S&P BSE Mid-Cap index added 0.17% and the S&P BSE Small-Cap index rose 0.17%.
The market breadth was positive. On the BSE, 2,032 shares rose and 1,965 shares fell. A total of 161 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.77% to 11.21.
Economy:
The IMF has revised India's economic growth forecast upward to 6.4% for both 2025 and 2026, reaffirming its position as the world's fastest-growing major economy. Globally, growth is projected at 3.0% and 3.1% for the same years, driven by factors like lower tariffs and a weaker US dollar.
New Listing:
Shares of GNG Electronics were at Rs 333.50 on the BSE, representing a premium of 40.72% compared with the issue price of Rs 237.
The scrip was listed at Rs 350, exhibiting a premium of 47.67% to the issue price.
The stock has hit a high of 364 and a low of 325.35. On the BSE, over 32 lakh shares of the company were traded in the counter.
Shares of Indiqube Spaces were at Rs 217.90 on the BSE, representing a discount of 8.06% compared with the issue price of Rs 237.
The scrip was listed at Rs 218.70, exhibiting a discount of 7.72% to the issue price.
The stock has hit a high of 222.75 and a low of 201.55. On the BSE, over 9.55 lakh shares of the company were traded in the counter.
IPO Update:
The initial public offer (IPO) of Aditya Infotech received bids for 6,49,11,418 shares as against 1,12,23,759 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (30 July 2025). The issue was subscribed 5.78 times.
The initial public offer (IPO) of Laxmi India Finance received bids for 83,11,762 shares as against 1,13,12,816 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (30 July 2025). The issue was subscribed 0.73 times.
The initial public offer (IPO) of National Securities Depository received bids for 5,23,98,900 shares as against 3,51,27,002 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (30 July 2025). The issue was subscribed 1.49 times.
The initial public offer (IPO) of M&B Engineering received bids for 48,91,588 shares as against 97,98,309 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (30 July 2025). The issue was subscribed 0.50 times.
The initial public offer (IPO) of Sri Lotus Developers and Realty received bids for 12,43,74,400 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (30 July 2025). The issue was subscribed 3.14 times.
Buzzing Index:
The Nifty IT index rose 0.31% to 35,481.70. The index rose 0.32% in two consecutive trading sessions.
Coforge (up 1.69%), LTIMindtree (up 1.64%), Mphasis (up 1.16%), Tech Mahindra (up 0.65%), Infosys (up 0.35%) and HCL Technologies (up 0.28%) advanced.
On the other hand, Oracle Financial Services Software (down 1.09%), Wipro (down 0.64%) and Persistent Systems (down 0.27%) edged lower.
Stocks in Spotlight:
Larsen & Toubro (L&T) jumped 4.88% after the company reported 30% jump in consolidated net profit to Rs 3,617.19 crore on a 16% rise in revenue to Rs 63,678.92 crore in Q1 FY26 as compared with Q1 FY25.
Tata Motors slipped 3.47%. The following media reports that the company is in advanced talks to acquire the truck business of Italy-based Iveco Group from the Agnelli family in a deal valued at $4.5 billion.
Bank of India advanced 1.69% after the companys standalone net profit climbed 32.3% to Rs 2,252.12 crore on 12.5% increase in total income to Rs 20,518.29 crore in Q1 FY26 over Q1 FY25.
Gallantt Ispat soared 13.06% after the companys consolidated net profit jumped 42.61% to Rs 173.79 crore in Q1 FY26 as against Rs 121.86 crore in Q1 FY25. However, revenue from operations fell 2.75% year on year to Rs 1,127.77 crore in the quarter ended 30 June 2025.
Blue Dart Express dropped 5.08% after the company reported 8.59% decline in consolidated net profit to Rs 48.83 crore in Q1 FY26 as against Rs 53.42 crore posted in Q1 FY25. However, revenue from operations rose 7.38% YoY to Rs 1,441.92 crore in the quarter ended 30 June 2025.
NTPC rose 1.30% after the company reported a 9.80% increase in consolidated net profit to Rs 6,010.60 crore on a 3.2% drop in net sales to Rs 47,065.36 crore in Q1 FY26 over Q1 FY25.
Allied Blenders and Distillers rose 1.45% after the companys consolidated net profit stood at Rs 56 crore in Q1 FY26, marking a 398.6% increase compared to Rs 11 crore in Q1 FY25. Revenue from operations (excluding excise duty) increased by 21.80% year-on-year (YoY) to Rs 922.86 crore in Q1 FY26.
GE Vernova T&D India hit an upper circuit of 5% after the companys standalone net profit surged 116.44% to Rs 291.20 on 38.8% increase in revenue from operations to Rs 1,330.13 crore in Q1 FY26 over Q1 FY25.
Firstsource Solutions added 0.67%. The companys consolidated net profit rose 25.2% to Rs 169.33 crore on a 24.5% jump in revenue from operations to Rs 2,220.93 crore in Q1 FY26 over Q1 FY25.
Global Markets:
Most European markets declined on Wednesday as investors assessed a fresh wave of corporate earnings while awaiting key regional growth data and the outcome of the U.S. Federal Reserves policy meeting.
Most Asian markets ended lower, led by declines in Japan and Hong Kong, as investors turned cautious ahead of the approaching U.S. tariff deadline and braced for key central bank decisions from the Bank of Japan and the Federal Reserve.
As U.S. President Donald Trumps deadline to strike a deal and avoid the Liberation Day tariffs approaches, trade negotiations with some countries appear likely to continue until the last possible moment before the August 1 cutoff date.
The U.S. Commerce Secretary was quoted by the media saying that President Donald Trumps upcoming Friday deadline to impose major tariffs on a slew of trading partners will not be delayed further. However, the trade negotiations with China are progressing on a separate timeline, the report added.
The US Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday, though it could see a rare dissent by some central bank officials in favour of lower borrowing costs.
Crude prices rose sharply earlier this week as the U.S. threatened to sanction major buyers of Russian oil, to pressure Moscow into ending its conflict with Ukraine. Signs of progress in U.S. trade relations, after a deal was struck with the European Union, also aided oil markets.
Data from the American Petroleum Institute, released on Tuesday evening, showed U.S. oil inventories grew about 1.5 million barrels (mb) in the week to July 25. This build contrasted the widely reported market expectations for a 2.5 mb draw, and also marked a reversal from a small draw in the prior week.
Stocks on Wall Street closed lower on Tuesday, as investors turn their attention to the Federal Reserves interest rate decision.
The S&P 500 slipped 0.30% to close at 6,370.86, while the Nasdaq Composite lost 0.38% to 21,098.29. The Dow Jones Industrial Average slipped 204.57 points, or 0.46%, to finish the session at 44,632.99.