The S&P BSE Sensex surged 867.73 points or 1.13% to 77,633.65 at 11:30 IST, while the Nifty 50 index jumped 250.20 points or 1.05% to 24,235.25. According to latest reports, the broader market showed strong momentum with the BSE 150 MidCap Index rising 0.54% and the BSE 250 SmallCap Index rallying 0.92%. Market breadth remained positive with 2,470 shares rising and 1,351 shares falling on the BSE, while 243 shares remained unchanged. The headline equity indices traded with strong gains on Wednesday, with the Nifty trading above the 24,200 mark in mid-morning trade.
The market rally was supported by robust industrial production data, with the Index of Industrial Production (IIP) expanding by 7.3% year-on-year growth in June 2026, up from 5% in May. As reported by Business Standard, this growth was driven by a strong rebound in manufacturing activity and robust growth in the electricity and gas supply segment. Manufacturing output increased 7.8%, while the Electricity & Gas Supply segment recorded a sharp 10.6% growth during the month. Within manufacturing, 19 of the 23 industry groups recorded positive growth.
The Nifty Metal index jumped 2.08% to 12,658.20, recovering from its 0.45% decline in the previous trading session. According to Business Standard, Steel Authority of India surged 4.24%, Jindal Steel gained 4.23%, Lloyds Metals & Energy rose 3.51%, Welspun Corp advanced 3.04%, NMDC increased 2.96%, Tata Steel climbed 2.64%, National Aluminium Company rose 2.47%, Hindalco Industries gained 2.20%, JSW Steel advanced 2.05%, and Jindal Stainless rose 1.84%.
Several companies reported significant quarterly results and developments. ACME Solar Holdings rose 2.21% after securing ₹3,404.57 crore in long-term project financing from Power Finance Corporation for its 250 MW Firm and Dispatchable Renewable Energy project. RailTel Corporation of India advanced 2.54% to ₹292.25 after announcing a ₹43.90 crore work order from the Office of the Inspector General of Police, Odisha Police. Tata Capital added 2.04% following a 56.32% jump in consolidated net profit to ₹1,547.38 crore in Q1 FY27, compared with ₹989.89 crore in Q1 FY26, driven by growth in lending and net interest income. However, VST Industries slipped 3.37% after its standalone net profit declined 24.42% to ₹42.42 crore in Q1 FY27, compared with ₹56.13 crore posted in Q1 FY26, with revenue from operations falling 13.91% year-on-year to ₹256.46 crore.
The initial public offer (IPO) of Manipal Health Enterprises received bids for 33,55,500 shares as against 9,00,88,286 shares on offer, according to stock exchange data at 11:30 IST on Wednesday (29 July 2026). The issue was subscribed 0.04 times, indicating weak investor interest in the healthcare sector IPO.
Asian markets traded mixed as tensions in the Middle East resurfaced after a brief lull, with the U.S. Central Command stating that American forces successfully intercepted missile attacks launched by Iran. Overnight in the U.S., The Dow Jones Industrial Average advanced 537.24 points, or 1.03%, closing at 52,742.32, while The S&P 500 rose 0.21% to settle at 7,428.78. However, The Nasdaq Composite fell 0.22% and ended at 24,876.91. Investors are looking ahead to the Federal Reserve's interest rate decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon.
