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Indian Stocks Gain on L&T's Robust Earnings, Investors Wary of U.S. Fed and Tariffs
30 Jul
Summary
- Indian markets ended slightly higher, led by strong gains in L&T after Q1 results
- Broader sentiment remained cautious due to U.S. Fed policy uncertainty and upcoming tariff deadlines
- Investors focused on sector-specific moves based on Q1 earnings, with the auto sector underperforming
On Wednesday, Indian markets ended the session in positive territory, supported by a surge in Larsen & Toubro (L&T) shares following the engineering giant's robust quarterly results. However, the broader market sentiment remained cautious as investors grappled with uncertainty surrounding the U.S. Federal Reserve's policy decision and an impending U.S. tariff deadline.
The benchmark BSE Sensex added 143.91 points, or 0.18%, to close at 81,481.86, while the NSE Nifty advanced 33.95 points, or 0.14%, to finish at 24,855.05. The domestic market ended the day marginally positive after a range-bound trade, despite ongoing uncertainty around the delayed India-US trade agreement and mixed earnings.
Vinod Nair, Head of Research at Geojit Investments, noted that "the investors turned more stock/sector specific based on the Q1 results; the industrial segment gained momentum after robust earnings from L&T." However, the auto sector underperformed, largely due to tariff-related pressures. Investors are now closely watching the U.S. Fed's policy meeting, as its stance on rates and inflation could shape global sentiment.
