Indian equities opened strongly higher on Wednesday, with Mumbai resisting the technology-led decline affecting several other Asian markets. The BSE Sensex gained 657.85 points, or 0.86 per cent, to open at 77,423.77, while the Nifty 50 advanced 191.30 points, or 0.8 per cent, to 24,176.65.
IT companies drive the advance
Technology services companies led the rally as investors distinguished India’s software exporters from the semiconductor manufacturers at the centre of the regional sell-off.
India has limited exposure to pure-play AI hardware companies compared with South Korea and Taiwan. Its major technology groups primarily provide consulting, software development, outsourcing and digital transformation services to international customers.
This difference encouraged investors to treat Indian IT shares as a relative shelter from growing concerns about semiconductor valuations and the sustainability of capital expenditure on AI infrastructure.
The Nifty IT index climbed approximately 2.5 per cent during the morning. Infosys gained 4 per cent, while Coforge advanced 3.6 per cent. The sector has now risen by more than 8 per cent over three sessions.
By 10.10am in Mumbai, the Nifty 50 was 0.98 per cent higher at 24,219.45. The Sensex had gained 1.07 per cent to reach 77,587.26.
Gains extend across the market
The positive opening was not limited to technology companies. Fourteen of India’s 16 major sector indices advanced, while both small-cap and mid-cap benchmarks rose by approximately 0.8 per cent.
Larsen & Toubro gained 3 per cent after the infrastructure group reported higher quarterly profit supported by strong order inflows.
Cholamandalam Investment advanced 2.2 per cent following an encouraging earnings report, while fragrance and flavour producer S H Kelkar climbed more than 15 per cent.
Foreign institutional investors purchased Indian shares worth approximately 7.55 billion rupees on Tuesday. Domestic institutional investors were also net buyers, acquiring shares worth about 16.64 billion rupees.
The combined activity provided additional support following Tuesday’s largely unchanged session, when the Sensex closed 0.09 per cent lower and the Nifty declined by 0.04 per cent.
Federal Reserve remains the main test
Investors are waiting for the US Federal Reserve’s interest-rate decision later on Wednesday. Most market participants expect rates to remain unchanged, although persistent inflation and renewed energy-market pressure have created uncertainty.
Brent crude rose by more than 4 per cent following fresh military attacks in Iraq and further instability surrounding the conflict with Iran. India imports most of its crude oil, making prolonged increases in energy prices a risk to inflation, the rupee and corporate costs.
Concerns about a potentially weak monsoon also remain, but strong quarterly earnings have provided greater confidence in the domestic outlook.
Mumbai’s opening showed that Indian equities could temporarily separate themselves from the wider Asian technology rout. Whether those gains hold will depend on corporate results, oil prices and the Federal Reserve’s message on the future direction of interest rates.
Newshub Editorial in Asia – July 29, 2026
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