Why is the Share Market (NSE and BSE) Rising: Sensex Rises Over 800 Points, Nifty Crosses 24,200

Indian equity markets traded sharply higher on July 29, 2026, with the BSE Sensex rising more than 800 points and the NSE Nifty 50 crossing the 24,200 mark during intraday trade. The rally came despite weak global market sentiment, higher crude oil prices and uncertainty ahead of the US Federal Reserve's policy announcement. Strong buying in IT stocks and encouraging corporate earnings helped lift investor sentiment.

Sensex and Nifty Extend Gains

The Sensex climbed 827 points, or 1.07%, to an intraday high of 77,593, while the Nifty 50 gained 218 points, or 0.90%, to touch 24,203. The gains marked the fourth consecutive session of positive momentum for the Indian stock market.

IT Stocks Drive the Rally

Information technology stocks were the biggest contributors to the market's gains. Companies such as TCS, Infosys, Wipro and HCLTech advanced between 2% and 4% during the session.

The Nifty IT Index also continued its strong momentum, rising nearly 3% on the day and almost 10% over the past 4 trading sessions. 

Focus on the US Federal Reserve

Market participants are closely watching the US Federal Reserve's monetary policy decision, scheduled later today. 

Q1 FY27 Earnings Support Market Sentiment

Another key reason behind the rally is the better-than-expected corporate earnings reported for the June quarter (Q1 FY27). Strong financial results across multiple sectors have improved confidence in the earnings outlook for Indian companies.

Global AI Sell-Off 

Recent weakness in global technology and semiconductor stocks, particularly in South Korea and Japan, is also being viewed as a positive for Indian IT companies.

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Conclusion

The Indian stock market continued its upward momentum on July 29, supported by strong gains in IT stocks, encouraging Q1 FY27 earnings and US Federal Reserve policy. 

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