Mid-Day Market Update 29 July 2025: Nifty Recovers to 24,738; Bank Nifty Above 56,000 Amid Trade Deal Jitters
By CapitalKeeper | Mid Day | Indian Equities | Market Moves That Matter
Indian markets rebound mid-day on July 29, 2025, with Nifty near 24,738 and Sensex up 415 pts. Bank Nifty trades above 56,000, led by financials, while IT remains weak amid US–India trade deal uncertainty and heavy FII outflows.
📊 Index Snapshot
- Nifty 50: Opened at 24,609.65, now 24,738.00 (+128.35 pts; +0.52%)
- Bank Nifty: From 55,881.80 to 56,091.80 (+210 pts; +0.38%)
- Sensex: From 80,620.25 to 81,035.45 (+415.20 pts; +0.52%)
- Fin Nifty: From 26,515.15 to 26,657.50 (+142.35 pts; +0.54%)
Markets are rebounding mid-session, recovering from earlier lows as financials and domestic cyclicals make gains.
🔍 Sector Highlights & Callouts
🏦 Financials & Bank Nifty
- Financial indices are leading the bounce. Strong performance from HDFC Bank and ICICI Bank is fueling Bank Nifty and Fin Nifty gains. This mirrors last week’s bank-led outperformance despite recent drag.
🧑💻 Information Technology
- Tech stocks remain underperformers—TCS, Infosys, and peers face headwinds from disappointing Q1 commentary and trade-deal uncertainty. IT sector continues lagging even as broader indices recover.
🛍️ Consumer & Pharma
- Select defensive names like Dr Reddy’s and Cipla are showing resilience, lifted by positive Q1 commentary. Consumer sectors offer some offset to broader risk aversion.
🛢️ Energy & Commodities
- Oil-related and male-heavy sectors remain subdued; lack of new triggers keeps them range-bound despite support from global trade optimism.
📈 Technical View
- Nifty has reclaimed 24,700 and is testing 24,750–24,800. Immediate resistance sits at 24,850, while support remains around 24,650–24,700.
- Bank Nifty sustained above 56,000; resistance lies at 56,200–56,300. A move beyond could herald a broader recovery in financials.
- Fin Nifty tracks banking recovery—next key hurdle is 26,700.
🌍 Global & Macro Context
- Trade Deal Delays Drag Sentiment: Markets remain cautious as the U.S.–India interim trade pact deadline nears August 1, with negotiations stalled on tariffs over agriculture and dairy.
- Record FII Outflows: Foreign investors pulled ₹60.81 billion ($700 million) on Monday—the largest in over six weeks—impacting sentiment and feeding domestic equity risk-off.
- US–EU Trade Deal Relief Gains: Though global markets bounced on a 15% tariff framework between the U.S. and EU, Indian equities remain cautious amid local trade uncertainties.
- Macroeconomic Risk: A finance ministry report warns of global slowdown hitting India’s export outlook, as exports contracted in June and inflation remains low but fragile.
🔔 Intraday Watchlist
- Kotak Mahindra Bank: Any further downside on weak earnings commentary could stall financial sector recovery.
- IT Leaders: Watch TCS, Infosys for renewed downside or stabilization as tech sentiment remains fragile.
- Support Zones: Nifty support at 24,700–24,650, Bank Nifty at 56,000–56,200. Breakdowns below may accelerate losses.
- Global data flow: Fed minutes, U.S. jobs and inflation data could reshape direction in coming sessions.
✅ Mid‑Day Takeaway
The market appears to be in a rebound phase from recent lows but remains vulnerable until clarity arrives on U.S.–India trade talks and corporate Q1 earnings. Financial stocks are the bright spot today, while IT weakness and macro uncertainty persist. Nifty’s ability to hold above 24,700 will dictate whether this is a relief bounce or temporary relief in a broader downtrend.
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