Stock Market 29 July: Midcap Rally Lifts Nifty and Sensex

Introduction: Key Highlights from the Stock Market 29 July

The Indian stock market on 29 July staged a powerful recovery, snapping its recent losing streak. Buoyed by strong stock-specific earnings, robust midcap momentum, and buying interest in select large caps, benchmark indices closed with solid gains.

📊 Sensex rose 409.95 points to 81,300.97, while the Nifty 50 added 143.70 points to end at 24,824.60, up 0.58%.
🏦 Nifty Bank rose modestly by 0.26%, while the Nifty IT index remained nearly flat.
📈 The real winners were in the BSE SmallCap space, which surged 1.19%, led by high-volume trades and results-led rallies.

How the Stock Market Moved on 29 July

After opening cautiously, the market picked up steam throughout the session. Investors shrugged off global uncertainties and focused on earnings, resulting in a broad-based rally in midcaps and smallcaps. Traders also positioned themselves ahead of the upcoming monthly expiry and U.S. Federal Reserve commentary.

Major Index Performance

Index	Close	Change	% Gain
NIFTY 50	24,824.60	+143.70	+0.58%
SENSEX	81,300.97	+409.95	+0.51%
Nifty Bank	56,230.15	+145.25	+0.26%
Nifty IT	35,381.75	+11.70	+0.033%
BSE SmallCap	53,834.72	+632.35	+1.19%

Top Gainer Stocks – 29 July

Apar Industries

Day Change: +11.73% | LTP: ₹9,681.5
Strong quarterly results and high-volume action powered this rally. The company also declared a dividend, attracting investor attention.

Netweb Technologies

Day Change: +7.95% | LTP: ₹1,972.8
Following its results announcement, the stock soared on high delivery volumes and investor optimism in the tech manufacturing space.

Affle (India)

Day Change: +7.91% | LTP: ₹1,985.4
Affle’s digital adtech business benefitted from strong traction and institutional buying, boosting its stock sharply.

Welspun Corp

Day Change: +7.13% | LTP: ₹924.55
Results-led buying and positive margin commentary pushed the stock higher.

Tata Chemicals

Day Change: +7.03% | LTP: ₹1,000
Improved margins and strong quarterly performance fueled this stock’s rally.

Top Loser Stocks – 29 July

Zen Technologies

Day Change: -5.00% | LTP: ₹1,606.2
The stock fell on results below market expectations and profit-booking pressure.

Home First Finance

Day Change: -4.91% | LTP: ₹1,304.3
Weaker loan growth and rising provisions led to a sharp fall post-earnings.

SBFC Finance

Day Change: -4.24% | LTP: ₹106.68
After a strong listing and recent rally, the stock corrected on volume selling.

Sapphire Foods

Day Change: -3.36% | LTP: ₹326.05
Disappointing results and valuation concerns triggered a sell-off.

Indian Energy Exchange (IEX)

Day Change: -3.21% | LTP: ₹134.65
According to analysts, a recent downgrade on growth concerns dragged the stock lower.

Gainers and Losers Summary Table

S.No	Gainers	% Gain	LTP	Losers	% Loss	LTP
1	Apar Industries	+11.73%	₹9,681.5	Zen Technologies	-5.00%	₹1,606.2
2	Netweb Tech	+7.95%	₹1,972.8	Home First Finance	-4.91%	₹1,304.3
3	Affle (India)	+7.91%	₹1,985.4	SBFC Finance	-4.24%	₹106.68
4	Welspun Corp	+7.13%	₹924.55	Sapphire Foods	-3.36%	₹326.05
5	Tata Chemicals	+7.03%	₹1,000	IEX	-3.21%	₹134.65

Why Did the Stock Market Rise on 29 July?

Strong Corporate Results

Midcap and smallcap stocks soared after releasing better-than-expected Q1 results. Companies like Apar Industries, Netweb, and Welspun Corp drew heavy buying interest.

Institutional and Retail Buying

Momentum was driven by sustained buying across key segments, particularly midcaps and financials.

Technical Rebound

After last week’s correction, Nifty rebounded sharply from key support zones, triggering short covering and fresh long positions.

Sectoral Support

Chemicals, capital goods, and manufacturing-led names outperformed, indicating investor preference for value and margin expansion stories.

According to this Moneycontrol live market source, stocks like Zen Tech and IEX declined due to either missed estimates, analyst downgrades, or profit booking. Weak earnings by financials like SBFC and Home First also weighed on investor sentiment in the NBFC space.

Conclusion

The Stock Market on 29 July witnessed a refreshing bounce, especially in midcap and smallcap counters. With results season in full swing and select sectors showing strength, market participants remain cautiously optimistic. However, investors must stay alert to global cues, U.S. Fed commentary, and stock-specific volatility in the days ahead.