India's Sensex Jumps Over 650 Points as IT Stocks Lead a Broad Rally

Indian equities extended their recovery on July 29, with the BSE Sensex surging more than 650 points in early trade and the NSE Nifty 50 climbing above the 24,150 mark. Technology shares led the advance, with Infosys jumping nearly 4% to top the Sensex gainers, alongside strength in L&T, TCS, Hindustan Unilever and Tech Mahindra. Power Grid, IndiGo, Asian Paints, Maruti and Titan were among the laggards. Market breadth was firmly positive, with advancing stocks outnumbering decliners by a wide margin on the National Stock Exchange. The rally built on a rebound earlier in the week after benchmark indices snapped a five-session losing streak, helped by easing geopolitical tensions in West Asia, a sharp fall in crude oil prices and caution ahead of the US Federal Reserve's policy decision. Foreign institutional investors turned net buyers, purchasing shares worth about Rs 755 crore in the prior session, while domestic institutions bought roughly Rs 1,664 crore. Investors are now watching the Fed outcome and ongoing quarterly corporate earnings for direction, with volatility expected to stay elevated around the monthly derivatives expiry.