The Indian equity benchmarks ended Friday's session on a flat note, with the Sensex closing at 77,540.83, gaining just 3.11 points and the Nifty 50 rising 20.15 points or 0.08% to end at 24,252.00. As per latest market data, the Nifty Smallcap 100 outperformed with a 0.69% advance, indicating broader market strength despite mixed sectoral performance. The session saw GIFT Nifty trading higher by 53 points at 24,350, signaling a positive start for the next trading session. Market breadth favoured advances with the advance-decline ratio at 1:1, while the Nifty Bank gained 152 points to 57,762 and the Midcap Index slipped 26 points to 63,646. Despite the marginal gains in the day's session, both the Sensex and Nifty declined for the second consecutive week, reflecting continued concerns over global market conditions and geopolitical risks.
Welspun has secured the largest single order in its history valued at approximately $1.8 billion for the supply of pipes from its manufacturing facility in the United States of America. According to company filings, this record-breaking order will be executed between FY 2027-28 & FY 2028-29. The company described this achievement as marking a defining milestone in its global growth trajectory and reaffirming its leadership position as a trusted, large-scale partner to the global energy and infrastructure sector. Welspun Corp surged 23.4% this week to settle at ₹2,311, making it one of the biggest stock-specific gainers despite weak market sentiment. Welspun Living also surged 15.3% following its record order win, demonstrating the company's strong performance across multiple business segments.
Despite a volatile market influenced by geopolitical tensions and rising oil prices, over 10 Nifty 500 stocks delivered double-digit gains this week even as the broader market remained under pressure. Welspun Corp shares jumped 23.4% this week to settle at ₹2,311, while Jyoti CNC Automation delivered a similar gain of 20%. Balrampur Chini Mills rose 16.7% during the week due to a rally in sugar prices, and Welspun Living surged 15.3% following its record order win. Other notable weekly performers included Aegis Logistics (12.1%), Netweb Technologies (11.9%), Ipca Laboratories (10.2%), Prime Focus (10.1%), Leela Palaces Hotels (10.1%), Urban Company (10%), and CarTrade Tech (10%). The Nifty 50 extended its losing streak to seven consecutive sessions through Wednesday, marking its longest run of daily declines in 11 months, as rising oil prices reignited inflation concerns.
The Nifty Metal index emerged as the top-gaining sectoral index amid a weakening dollar and rising spot prices, with Hindustan Zinc jumping 4% as spot silver prices rose 3% to $70 per ounce. Bharat Dynamics gained over 3% while gold financiers rose up to 2% on rising spot gold prices. Urban Company jumped over 8% following a positive brokerage note, while JBM Auto rose nearly 7% amid reports of Bain Capital investing in the company's electric vehicle business. However, sugar stocks snapped their gaining streak after the government allowed sugar imports at zero duty, with Balrampur Chini declining 6%. IndiGo fell over 1.5% and was among the top Nifty losers as air traffic in July hit a four-year low. Among the major Nifty losers, Trent, Maruti Suzuki India and InterGlobe Aviation came under pressure and ended among the top-performing stocks on the downside. Sectorally, the Nifty FMCG, Nifty Auto and Nifty IT indices underperformed the broader market, while the Nifty Metal and Nifty Private Bank indices emerged as the key outperformers.
Commenting on Nifty technical outlook, experts said that the 24,000–24,200 zone remains the key support base, reinforced by heavy Put open interest at the 24,000 strike. "On the upside, this week's high of 24,360 falls within the broader 24,300–24,400 resistance zone, making this the immediate hurdle for the index," an analyst stated. "A sustained move above 24,360–24,400 could trigger a quick advance towards 24,500–24,600," a market expert mentioned. Market sentiment remained cautious as investors continued to track movements in global bond yields, crude oil prices and developments surrounding tensions between the US and Iran. Ajit Mishra from Religare Broking advised that the market is likely to remain volatile in the near term as geopolitical uncertainty, elevated crude oil prices, and global bond yields continue to influence investor sentiment. He recommended maintaining a selective approach and focusing on companies with strong earnings visibility, healthy balance sheets, and improving relative strength.
