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IT stocks lift Sensex, Nifty in Wednesday’s opening session

IT stocks lifted the Sensex and Nifty higher in Wednesday's opening session amid a rebound in crude oil prices.

By Dailyviewer Published: 29 July 2026, 9:12 am · 2 min read

BSE building at Dalal Street (representative image) — Representative image. Photo: "BSE building at Dalal Street" by BSEINDIA, Wikimedia Commons, CC BY-SA 3.0

Indian markets opened on a strong note on Wednesday, with the Sensex up 657.85 points, or 0.85 per cent, at 77,423.77, and the Nifty 50 higher by 191.3 points at 24,176.65.

The gains were led by IT stocks, with Infosys up 3.89 per cent, while L&T, TCS, Hindustan Unilever and Tech Mahindra also rose in early trade.

Sectorally, the Nifty IT index gained as much as 2.51 per cent and the Nifty FMCG index rose 1.52 per cent, even as most Asian markets traded weaker.

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Power Grid was the biggest loser in early deals, down 0.67 per cent, with InterGlobe Aviation, Asian Paints, Maruti and Titan also among the decliners.

Market breadth favoured advancing stocks, with 1,837 gainers against 550 losers and 103 unchanged counters on the BSE.

The rally followed a rebound in crude oil prices after a roughly 14 per cent decline over three sessions amid heightened US-Iran tensions.

Institutional buying supported sentiment, with foreign institutional investors purchasing ₹755.33 crore worth of shares and domestic institutional investors buying ₹1,664.16 crore on July 28.

Traders were closely watching the US Federal Reserve’s policy decision expected later in the day, even as domestic indices posted solid opening gains.

The rise followed Tuesday’s flat finish, when the Sensex closed at 76,765.92 and the Nifty at 23,985.35 amid a fragile pause in US-Iran hostilities.

The India VIX volatility gauge had eased to 12.56 on July 28, down 0.79 per cent, with a firmer rupee and cooling geopolitical tensions supporting calmer sentiment ahead of Wednesday’s session.

Market watchers said the rebound in crude oil, after three straight sessions of sharp declines, had eased some of the concerns that had weighed on Indian equities earlier in the week amid the ongoing US-Iran tensions.

Sustained buying by domestic institutional investors in recent sessions has also been credited with cushioning Indian markets against bouts of volatility driven by global cues.

(Image: “BSE building at Dalal Street” by BSEINDIA, Wikimedia Commons, CC BY-SA 3.0)