Markets closed marginally higher on Wednesday following a volatile session marked by monthly F&O expiry and investor caution ahead of the U.S. Federal Reserve’s policy decision. The Sensex gained 143.91 points or 0.18 per cent to settle at 81,481.86, while the Nifty 50 inched up by 33.95 points or 0.14 per cent to close at 24,855.05.
The session was primarily driven by strong earnings from infrastructure major Larsen & Toubro (L&T), which emerged as the top gainer on the Nifty 50, surging 4.68 per cent after posting robust Q1 results. “Today, Indian markets ended higher in a choppy session, with the Sensex gaining 144 points to close at 81,482 and the Nifty rising 34 points to finish at 24,855. The positive closing was mainly driven by strong earnings from blue-chip companies like Larsen & Toubro (L&T), whose shares surged over 4 per cent after posting robust Q1 results, boosting investor sentiment,” said Vaibhav Vidwani, Research Analyst at Bonanza Group.
Top gainers, losers
Among the top gainers on the Nifty 50, Sun Pharma advanced 1.51 per cent, Tata Consumer Products gained 1.36 per cent, NTPC rose 1.11 per cent, and Maruti Suzuki climbed 0.95 per cent. On the losing side, Tata Motors declined 3.52 per cent, Hero MotoCorp fell 1.95 per cent, Power Grid dropped 1.06 per cent, Bajaj Auto slipped 1.00 per cent, and Cipla decreased 1.00 per cent.
Market breadth remained slightly positive with 2,030 stocks advancing against 1,968 declining shares on the BSE, while 160 stocks remained unchanged. A total of 144 stocks hit 52-week highs compared to 66 touching 52-week lows.
Sectoral performance was mixed, with selective buying witnessed in IT, FMCG, and capital goods segments. “Most sectoral indices traded mixed; while autos and realty witnessed some profit-booking, infra, utilities, and select pharma stocks saw interest,” Vidwani added. The Nifty Bank index underperformed, declining 0.13 per cent to 56,150.70, while the Nifty Midcap 100 fell 0.07 per cent to 57,942.25.
“On Wednesday, benchmark indices witnessed a range-bound session, with the Nifty 50 ending marginally higher by 0.14 per cent at the 24855 mark. Within the Nifty 50 pack, Larsen & Toubro (LT) and Sun Pharma emerged as the top gainers,” noted Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
Rupee breaches 87.40 vs USD
The domestic currency faced significant pressure, with the rupee breaching the 87 mark against the dollar, marking its lowest level in over four months. “Rupee traded weak, breaching the 87.40 mark with a decline of 0.72 per cent, as rising crude prices and a stronger dollar index weighed on sentiment,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities. “The rupee is expected to trade within a broader range of 87.00–87.70.”
Silver gains on firm base metals; rupee drives gold rally
In the commodities space, gold traded positively with gains of ₹400 at ₹99,500 as overnight gains in Comex gold and sharp weakness in the rupee pushed domestic prices higher. “The recent rally from ₹98,000 to ₹99,500 has been largely rupee-driven, with limited support from Comex gold,” Trivedi explained. Silver edged up slightly to ₹113,860/kg, supported by firm base metal cues.
Technical analysts remained cautiously optimistic about the market’s near-term prospects. “The benchmark index Nifty ended on a positive note on Wednesday. The index formed a small-bodied candle with a noticeable lower shadow on the daily chart—indicating intraday buying interest at lower levels,” Shah observed. “Going ahead, the 50-day EMA zone of 24930-24960 will act as an immediate hurdle for the index.”
Nifty forms bullish hammer
Mandar Bhojane, Senior Technical & Derivative Analyst at Choice Equity Broking, highlighted the technical setup: “On the technical chart, the Nifty formed a bullish hammer candle, closing above the previous day’s high, which indicates a potential follow-up rally. The index is trading above its 100 EMA, showing strength, and a close above the 50 EMA (24,935) would further confirm a bullish reversal.”
The derivatives segment showed reduced volatility with India VIX falling 2.78 per cent to 11.2050, signalling improved trader sentiment. “On the options front, the highest Call open interest is at the 25,000 and 25,200 strikes, suggesting overhead resistance zones, while the highest Put open interest is at the 24,800 strike, indicating a strong support base,” Bhojane noted.
Caution persists ahead of US Fed and trade deal deadline
Market participants remained cautious ahead of key global events. “Sentiment remained subdued due to lingering uncertainty over the trade deal, following the latest statement from the US President about potential tariffs on India, amid delays in finalizing the agreement ahead of the August 1 deadline,” said Ajit Mishra, SVP Research at Religare Broking.
“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,” observed Vinod Nair, Head of Research at Geojit Investments. “Investors are now focusing on the US Fed’s policy meeting, as its stance on rates and inflation could shape global sentiment.”
Looking ahead, analysts expect continued volatility as markets await the Federal Reserve’s policy outcome and commentary. “Participants will react to the US Fed Chair’s commentary in early Thursday trades, after which the focus will shift to the monthly expiry of July derivatives contracts and ongoing earnings season,” Mishra added. “On the index front, the 25,000–25,100 zone is expected to act as a resistance and may attract fresh selling if the market attempts a rebound, while support is seen around the 24,450–24,550 zone.”
Published on July 30, 2025
