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Indian Stocks Rebound After Three-Day Slump
29 Jul
Summary
- Nifty 50 and Sensex indices gained over 0.5% on Tuesday
- Broad-based buying lifted benchmarks, led by Reliance Industries
- Investor sentiment remains cautious ahead of key global events
Indian equities staged a modest recovery on Tuesday, snapping a three-session losing streak. The blue-chip Nifty 50 rose 140 points, or 0.57%, to close at 24,821, reclaiming the 24,800 mark, while the S&P BSE Sensex gained 447 points, or 0.55%, to end at 81,338.
The gains were broad-based, with the Nifty Midcap 100 index climbing 0.8% and the Nifty Bank index adding 0.25%. The market breadth remained strong, with the advance-decline ratio at 2:1 on the NSE.
Reliance Industries, one of the top Nifty gainers, rose 1.7%, helping lift sentiment. Shares of its financial arm, Jio Financial Services, also surged over 4% ahead of a scheduled board meeting on fund raising. Other notable gainers included Asian Paints, Larsen & Toubro, and Tata Chemicals.
However, investor sentiment remains cautious amid lingering uncertainties over the ongoing US-India trade negotiations and upcoming key global events, including policy decisions from the U.S. Fed and the August 1 reciprocal tariff deadline.
