Top Losers and Gainers on July 29: Apar Industries, Tata Chemicals, Welspun Corp, Birlasoft among top gainers today
Markets opened flat and remained volatile during the first half but gained momentum in the second half, with the Nifty 50 ending the trade with a gain of 0.57% to 24,821 points, while the S&P BSE Sensex jumped 469 points or 0.58% to 81,360.
The sustainability of the rally will depend on an improvement in upcoming earnings, as the first batch of Nifty 50 results has been muted, and on clarity over a potential trade deal between the US and India, which continues to weigh on sentiment. US President Donald Trump has recently finalized trade agreements with major partners, largely favoring the US.
Negotiations between India and the United States remain deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of a trade deal ahead of Trump's August 1 deadline, Reuters reported last week, citing two Indian government sources. Trump said on Monday that most trading partners who do not negotiate separate deals would soon face tariffs of 15–20% on exports to the US, significantly higher than the 10% tariff imposed in April.
Meanwhile, US and Chinese officials concluded the first of two days of talks aimed at extending their tariff truce beyond a mid-August deadline and exploring ways to maintain trade ties while safeguarding economic security.
The muted June-quarter earnings season has also prompted overseas investors to turn aggressive sellers, with FPIs offloading ₹ 6,082 crore worth of stocks on Monday, marking their largest single-day selling in India since May 30, according to provisional data.
Key market triggers this week include the Federal Reserve's rate decision, while the Bank of Japan is also set to announce its policy stance. Fed Chair Jerome Powell and his colleagues will begin a two-day meeting on Tuesday to deliberate on rates amid political pressure, evolving trade policy, and complex economic cross-currents.
Traders currently see no change in US interest rates this week, while expecting a quarter-point rate cut in mid-September, with around 100 basis points of easing anticipated over the next 12 months.
Several stocks witnessed a strong surge in demand on Dalal Street following the release of their June quarter earnings. Apar Industries emerged as the top gainer among Nifty 500 stocks, rallying 12% to ₹ 9,693 after the company reported a net profit of ₹ 263 crore in Q1 FY26, up from ₹ 203 crore in the same quarter of the previous fiscal year.
Netweb Technologies also closed with a sharp gain of 8.17% at ₹ 1,975 apiece, resuming its winning streak seen earlier in July after the release of its June quarter results.
Welspun Corp saw its stock jump 7.13% to ₹ 924 apiece after the company reported a 41% YoY rise in net profit to ₹ 350 crore.
Tata Chemicals gained 7% to ₹ 1,000 apiece, snapping a three-day losing streak. Meanwhile, PNC Infratech surged 6.6% to ₹ 318 apiece after being declared the lowest bidder by South Eastern Coalfields (SECL) for a mining project in Chhattisgarh worth ₹ 29.57 billion.
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Time of India
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