Stock markets rebound after 3-day decline on buying in Reliance, HDFC Bank

The Print

29-07-2025

The 50-share NSE Nifty climbed 140.20 points or 0.57 per cent to 24,821.10.
The 30-share BSE Sensex jumped 446.93 points or 0.55 per cent to settle at 81,337.95. During the day, it surged 538.86 points or 0.66 per cent to 81,429.88.
Mumbai, Jul 29 (PTI) Snapping the three-day losing run, benchmark BSE Sensex rebounded by nearly 447 points on Tuesday following value buying in blue-chip Reliance Industries and financial shares.
Among Sensex firms, Reliance Industries rose the most by 2.21 per cent. Gains in HDFC Bank, Larsen & Toubro, Bharti Airtel and Tata Motors also aided the rally.
Asian Paints, Adani Ports, Tata Steel, Maruti and Bajaj Finance were also among the gainers.
However, Axis Bank, Tata Consultancy Services, Titan and ITC were among the laggards.
'Amidst lingering uncertainties over the ongoing US-India trade negotiations, the domestic equity market staged a modest recovery from intra-day lows. Investor sentiment remains cautious ahead of key global events, including policy decisions from the US Fed and the August 1 reciprocal tariff deadline.
'Sustenance of this rally is likely to be positive in the near term with an eye on the above details, including Q1 results and this week's monthly expiry,' Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge jumped 1.10 per cent and midcap rallied 0.84 per cent.
All BSE sectoral indices ended higher. Realty surged the most by 1.64 per cent, followed by telecommunication (1.50 per cent), energy (1.22 per cent), industrials (1.20 per cent), healthcare (1.15 per cent), commodities (1.05 per cent) and auto (0.92 per cent).
As many as 2,486 stocks advanced while 1,515 declined and 154 remained unchanged on the BSE.
'Indian equities rebounded sharply on Tuesday, breaking a three-day losing streak as value buying and easing volatility lifted sentiment,' Gaurav Garg, Lemonn Markets Desk, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,082.47 crore on Monday, according to exchange data.
The recovery in the Nifty was driven by oversold positions in heavyweight stocks, coupled with the presence of strong support at the 100-day EMA, Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
In Asian markets, Japan's Nikkei 225 index and Hong Kong's Hang Seng settled lower while South Korea's Kospi and Shanghai's SSE Composite index ended in positive territory.
Markets in Europe were trading higher. The US markets ended on a mixed note on Monday.
Global oil benchmark Brent crude climbed 0.63 per cent up to USD 70.48 a barrel.
Stock markets declined for the third day on Monday.
The Sensex tanked 572.07 points or 0.70 per cent to settle at 80,891.02 on Monday. The Nifty declined 156.10 points or 0.63 per cent to 24,680.90. PTI SUM MR MR
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.