IN Stock Market Today: GIFT Nifty Soars 250 Points as Sensex, Nifty Eye Strong Gap-Up Opening

GIFT Nifty jumped 250 points ahead of Wednesday’s session, signaling a strong gap-up for India’s stock market on July 29, 2026. That premium translated into real gains once trading began. The Sensex rose 701.41 points, or 0.91%, to 77,467.33 by mid-morning. The Nifty 50 climbed 204 points, or 0.85%, to top 24,190.40. Rebounding Asian markets and an upcoming US Fed decision shaped the day’s early sentiment.

Why India’s Stock Market Opened Sharply Higher

GIFT Nifty’s 250-point jump reflected a broad rebound across Asian markets overnight. That optimism carried directly into India’s stock market at the opening bell Wednesday.

• The Sensex opened with a gap-up and extended gains through the morning session.
• Nifty 50 crossed the 24,190 mark within the first hour of trading.
• Nifty IT rose roughly 2%, emerging as the day’s standout sectoral performer.

Infosys, Larsen & Toubro, and Eternal were the top gainers among Nifty 50 stocks during early trading. IT stocks specifically benefited from renewed buying interest tied to global tech sentiment.

4️⃣ Asian Markets & Gift Nifty:

🌏🚀 Asian indices are trading mixed with a positive bias, taking cues from overnight US strength.

GIFT Nifty is trading stronger near 24,301 (up sim 0.87%), pointing to a firm gap-up opening for domestic indices. pic.twitter.com/Zc3in3OIAX

— @WealthWisdomWave (@Djeykarthik) July 29, 2026

IT Stocks Drive the Rally as Infosys, TCS Lead

Technology stocks powered much of Wednesday’s stock market advance in India. Infosys (NYSE: INFY) and TCS (NYSE: TCS) both featured prominently among the session’s top gainers.

• Infosys ranked among the top three Nifty 50 gainers by mid-morning.
• The broader Nifty IT index outpaced every other sectoral gauge, rising close to 2%.
• Strong global IT sentiment appears to have offset lingering concerns about US tech spending.

This IT-led move stands out given recent volatility in global technology earnings, including mixed results from several major US tech companies this earnings season.

Oil Prices and West Asia Tensions Add a Cautious Undertone

Despite the strong opening, India’s stock market faced a genuine geopolitical crosscurrent Wednesday. Fresh US and Saudi strikes hit Iran-linked militant sites in Iraq overnight.

• That escalation pushed crude oil prices higher during early Wednesday trading.
• Rising oil costs typically pressure India’s import bill and inflation outlook directly.
• Motilal Oswal’s Siddhartha Khemka expects the market to remain range-bound while maintaining an overall positive bias. 

Khemka pointed to easing broader West Asia tensions and a continued decline in Brent crude as supportive factors. President Trump’s stated preference for a diplomatic resolution with Iran also helped calm investor nerves.

Global stock indexes rose and Brent crude fell to 90 dollars a barrel as the U.S. and Iran entered a temporary pause in fighting. U.N. Ambassador Mike Waltz stated the administration is giving diplomacy a chance while still deploying additional personnel. https://t.co/JWcBMZOnp6

— The Washington Times (@WashTimes) July 27, 2026

The US Fed Decision Looms Over Wednesday’s Session

Global investors, including those in India’s stock market, are watching Wednesday’s Federal Reserve decision closely. The outcome could reshape sentiment heading into Thursday’s trading session.

• The Fed is widely expected to hold its benchmark rate steady this meeting.
• Any unexpected hawkish signal could quickly reverse Wednesday’s gap-up gains.
• Indian markets have shown sensitivity to Fed commentary throughout this volatile earnings season.

Traders are likely to stay cautious heading into the US central bank’s post-meeting statement later Wednesday.

What Global Cues Are Telling Indian Investors

Asian markets broadly rebounded overnight, giving India’s stock market a favorable overnight backdrop. That rebound followed a choppier stretch tied to AI-spending concerns among global chipmakers.

• European markets also showed positive momentum, adding further support to sentiment.
• The rupee and broader currency markets stayed relatively stable during the overnight session.
• Mixed global cues still warrant some caution despite Wednesday’s strong domestic opening.

This combination of a rebounding Asia, a steady rupee, and improving oil sentiment gave India’s benchmark indices room to extend Tuesday’s gains into Wednesday.

The Session Ahead

Wednesday’s 250-point GIFT Nifty jump delivered exactly what it promised: a strong, IT-led gap-up for India’s stock market. The real test now shifts to the US Federal Reserve’s rate decision later in the day, which carries the power to either extend or unwind Wednesday’s momentum quickly. 

With oil prices still reacting to fresh West Asia strikes and Brent crude trending lower on hopes of de-escalation, traders should treat today’s gains as constructive but not yet decisive. The next 24 hours of Fed commentary will likely determine whether this rally has real staying power into Thursday’s session.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.