Stock Market Today: Sensex Ends Up 140 Points, Nifty Closes Above 24,800 As Market Stuck in Narrow Range

Indian benchmark stock indices, Sensex and Nifty 50 ended the day almost flat on Wednesday, July 30, after a passive trading session amid lingering uncertainty over US-India trade talks ahead of a looming tariff deadline. Traders continued to monitor developments after President Trump said that India could face tariffs of 20-25%, slightly below the 26% rate announced in April.

The Sensex rose by 143.91 points, or 0.17%, to close at 81,478.74, while the Nifty 50 went up by 33.95 points, or 0.14%, to settle at 24,855.05. However, out of the Nifty 50 stocks, 29 ended lower while 21 closed higher.

Top Gainers and Losers

L&T, Sun Pharma, Tata Consumers, NTPC, Maruti, SBI Life, Axis Bank and Trent were top Nifty 50 gainers today, on July 30, with L&T rising by 4.68%.

While, Tata Motors, Hero Motocorp, Powergrid, Cipla, Bajaj Auto, and Coal India were among top Nifty losers in today's trading session.

Most sector indices ended in the red. Nifty Realty fell 0.96%, Media was down 0.79%, PSU Bank dropped 0.66%, and Auto slipped 0.60%. The Nifty Bank and Private Bank indices fell slightly by 0.13% each, while the Financial Services index closed almost flat.

The BSE Midcap and Smallcap indices showed small gains. The Nifty Midcap 150 also moved up slightly, led by The New India Assurance and Coromandel International. Shares of The New India Assurance rose over 18% after its Q1 results.

In the broader market, Nifty Smallcap 100 fell by 0.52%, and Nifty Midcap 100 dropped 0.07%.
Overall, market breadth was positive with 2,029 stocks advancing, 1,966 declining, and 163 remaining unchanged on the Bombay Stock Exchange (BSE).

Why Did Markets Closed Almost Flat Today?

"Indian equities closed in the red on Tuesday as caution prevailed ahead of the US Federal Reserve's policy outcome and continued uncertainty over the India-US trade agreement. Profit booking was seen in heavyweight stocks, particularly in IT and auto, while infrastructure and banking names provided some cushion. The broader market also turned weak, with midcaps underperforming," said Vikram Kasat, Head - Advisory, PL Capital.

"The domestic market ended the session marginally positive after a range-bound trade, despite ongoing uncertainty around the delayed India-US trade agreement and mixed earnings. The investors turned more stock/sector specific based on the Q1 results; the industrial segment gained momentum after robust earnings from L&T.

The auto sector underperformed, largely due to tariff-related pressures. Investors are now focusing on the US Fed's policy meeting, as its stance on rates and inflation could shape global sentiment," according to Vinod Nair, Head of Research, Geojit Investments.

Nifty Outlook

"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," said Rupak De, Senior Technical Analyst at LKP Securities.

Rupee VS Dollar

The Indian rupee fell by 61 paise and closed at 87.43 against the US dollar, its lowest level since February 28. On Tuesday, it had closed at 86.82 per dollar.

"The Indian rupee exhibited its most significant single-day decline since May 8, reaching a five-month low. This sharp depreciation was primarily driven by increased month-end dollar demand and outflows from foreign funds. Adding to the negative sentiment, comments from US President Trump, suggesting that India could face tariffs of 20% to 25%, further weighed down the rupee.

"The breaching of the psychological level of 87, coupled with a technical breakout, spurred greater dollar demand from importers and triggered short covering. Following this substantial rally in since start of the month, the immediate support level for spot USDINR has shifted to 87, while the resistance is now seen at 87.70," said Dilip Parmar - Senior Research Analyst, HDFC Securities.

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