Morning Brief: Nifty Ends Flat at 23,985; FIIs Turn Buyers with ₹755 Cr Inflow; IT Sector Surges | 29 Jul 2026, 08:15 AM IST
By ThePip Desk
Indian benchmarks saw a flat close with Nifty at 23,985, as FIIs recorded net buying of ₹755 crore. The IT sector led gains, while global markets offered mixed cues.
Indian equity benchmarks closed flat on Tuesday, with the Nifty 50 settling at 23,985.35. Foreign Institutional Investors (FIIs) turned net buyers, recording inflows of ₹755.33 crore, while Domestic Institutional Investors (DIIs) also showed strong buying interest with ₹1,664.16 crore. The session saw cautious trading ahead of key global central bank policy meetings.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 23,985.35 (-0.04%) |
| Nifty Bank | 56,755.60 (-0.58%) |
| NIFTY Midcap 100 | 62,351.50 (+0.08%) |
Institutional Flows
FIIs emerged as net buyers on Tuesday, injecting ₹755.33 crore into Indian equities, a significant shift from recent selling trends. DIIs continued their robust support, adding ₹1,664.16 crore. As of July 28, SEBI data indicates FIIs were net sellers in equities, offloading ₹1,341.29 crore, while simultaneously investing ₹1,243.49 crore in debt markets.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-07-28 | +755.33 | +1,664.16 |
| 2026-07-27 | -1,688.23 | +2,329.14 |
| 2026-07-24 | -3,892.77 | +5,453.55 |
| 2026-07-23 | -2,999.23 | +2,947.14 |
| 2026-07-22 | -819.20 | -418.26 |
Sector Performance
The IT sector was the standout performer, surging over 3%, while Realty and Auto also posted healthy gains. Conversely, FMCG, PSU Bank, and Financial Services indices closed in the red.
| Sector | Last |
|---|---|
| Nifty IT | 30,418.35 (+3.32%) |
| Nifty Realty | 921.45 (+2.17%) |
| Nifty Auto | 27,843.90 (+0.69%) |
| Nifty Pharma | 25,998.85 (+0.20%) |
| Nifty Financial Services | 26,024.20 (-0.39%) |
| Nifty PSU Bank | 8,284.20 (-0.96%) |
| Nifty FMCG | 48,881.20 (-1.38%) |
Top Movers
| Symbol | Company | Last |
|---|---|---|
| TCS | Tata Consultancy Services Ltd. | 2,398.00 (+4.46%) |
| ETERNAL | Eternal Ltd. | 308.35 (+4.23%) |
| TECHM | Tech Mahindra Ltd. | 1,635.20 (+3.82%) |
| NESTLEIND | Nestle India Ltd. | 1,491.80 (+3.16%) |
| CIPLA | Cipla Ltd. | 1,444.60 (+2.50%) |
| Symbol | Company | Last |
|---|---|---|
| HINDUNILVR | Hindustan Unilever Ltd. | 2,022.70 (-6.99%) |
| BEL | Bharat Electronics Ltd. | 389.00 (-4.46%) |
| COALINDIA | Coal India Ltd. | 410.15 (-4.06%) |
| TATACONSUM | Tata Consumer Products Ltd. | 1,082.10 (-2.28%) |
| NTPC | NTPC Ltd. | 343.75 (-2.01%) |
Global Cues
Asian markets mostly closed lower on Tuesday, impacted by caution ahead of the US Federal Reserve’s decision and doubts surrounding AI spending. Chinese shares declined amid concerns over rising domestic chip production. In contrast, US markets ended mostly higher on Monday, buoyed by lower crude oil prices and easing interest rate concerns, despite durable goods orders rebounding less than expected in June.
Currency / Macro
- The Indian rupee strengthened against the US dollar, closing at 95.82, up 17 paise from its previous close.
- Bond yields traded lower, with the new 10-year Government Stock yields down 1 basis point to 6.76%.
- India’s industrial production (IIP) jumped to 7.3% for June 2026, driven by a sharp 7.8% expansion in manufacturing.
- The US and India are expanding cooperation in defence, civil nuclear energy, and trusted AI.
- The India-UK Free Trade Agreement (FTA), effective July 15, 2026, is expected to boost India’s exports to the UK to $115 billion by 2030.
- DPIIT has permitted Foreign Direct Investment (FDI) in inventory-based e-commerce exclusively for export purposes.
- SBI research suggests India could attract $80-85 billion through the RBI’s concessional swap facility scheme.
IPO Watch
- Open Today: H. R. Hygiene Products (₹83-88), Manipal Health Enterprises (₹560-590).
- Currently Open: Poojaa Precision Engg (₹285-301, closes July 30), Propshop Events And Exhibitions (₹65-69, closes July 29), Advance Technoforge (₹95, closes July 29).
- Upcoming: MV Electrosystems (₹400-425, opens July 30), Juniper Green Energy (₹214-225, opens July 30).
- Recently Listed: Shree Balaji (Mala) Textiles (listed today, July 29, issue price ₹70), Metalic Technoforge (listed July 28, issue price ₹77).
Corporate / Earnings
- RailTel Corporation secured an order worth ₹43.90 crore, to be executed by August 2029.
- Dynacons Systems bagged a ₹267.58 crore contract for data centre augmentation with enterprise server infrastructure.
- Chiraharit received an order worth ₹1.72 crore from Eagle Agrotech Tanzania for a Center Pivot Irrigation System.
- Cipla received USFDA approval for its generic Advair Diskus.
- Bharat Electronics, Godfrey Phillips Ind, and Lords Chloro Alkali announced their quarterly results.
- Unified Data-Tech Solutions provided a quarterly update on estimated revenue and order book for Q1 FY27.
- Diamond Power Infrastructure announced a Qualified Institutional Placement.
The rebound in FII buying on Tuesday, coupled with strong DII support, signals renewed confidence in Indian equities despite global uncertainties and ahead of key central bank decisions.
India’s robust 7.3% industrial growth in June, particularly the manufacturing surge, underscores the underlying strength of the domestic economy, providing a strong counter-narrative to external headwinds.