Foreign investors pour in, mid‑cap indices climb on July 29

Mumbai – Wednesday’s trading session saw fresh foreign money flow into Indian equities, bolstering both mid‑cap and small‑cap indices.

At 9:21 a.m., the Sensex was up 729 points (0.95%) at 77,495 and the Nifty traded higher by 202 points (0.84%) to 24,187. The early momentum was driven by IT stocks, with the Nifty IT sector posting a gain of more than one percent, making it the top performing segment.

Mid‑cap and small‑cap gauges also moved into positive territory. The Nifty Midcap 100 climbed 236 points, a 0.40% rise, to finish at 62,598. The Nifty Smallcap 100 added 105 points (0.55%), ending at 19,185.

Large‑cap leaders included L&T, Infosys, HUL, Bharti Airtel, Bajaj Finance, M&M, Eternal, TCS, HDFC Bank, Tech Mahindra, HCLTech, ITC, UltraTech Cement, Tata Steel, Kotak Mahindra Bank and Bajaj Finserv. Stocks such as IndiGo, Power Grid, Asian Paints, Titan, Trent and BEL were among the decliners.

Regional cues were mixed – most Asian markets slipped, except Hong Kong which stayed green. In the United States, equity markets closed on Tuesday with the Dow Jones gaining over one percent.

Analysts point out that the influx of foreign funds, combined with correctly priced equities, could help the market break out of its tight upward corridor, though patience may be required. Further foreign buying is likely to hinge on clearer signals from crude‑oil price trends and the progress of the monsoon season. Meanwhile, a sharp fall in South Korean semiconductor stocks is seen as a positive side‑effect for Indian equities.

Foreign Institutional Investors (FIIs) recorded a net purchase of ₹755.33 crore in equity on Tuesday, while Domestic Institutional Investors (DIIs) added ₹1,664.16 crore, underscoring solid institutional participation.