The last week of July brought a packed calendar for markets, policy and public life, from a Fed rate decision and a bruising earnings season to a legislative response on paper leaks and a long-delayed homecoming in Kolkata. Here's a recap of the week that was.
Markets on home turf
The rupee traded near 95.6 per dollar by Thursday, easing off a two-month low of 96.57 hit earlier in the month, according to Business Standard. Foreign Institutional Investors were net buyers for a third straight session on July 30, purchasing equities worth Rs 3,623.51 crore, while Domestic Institutional Investors turned net sellers of Rs 1,864.03 crore, per exchange data. The Sensex closed at 78,094.64 on Friday and the Nifty 50 settled at 24,383.60, recovering from the previous week's selloff.
Fed holds rates steady amid Middle East uncertainty
The US Federal Reserve voted 9-3 on July 29 to hold the federal funds rate at 3.5-3.75%, marking the fifth straight meeting without a change, according to the Fed's statement. Three regional presidents dissented in favour of a hike. The Committee said economic activity is expanding at a solid pace despite elevated uncertainty stemming in part from the conflict in the Middle East.
Earnings season hits its busiest stretch
More than 250 companies reported Q1 FY27 results this week, including Hindustan Unilever, Bajaj Finance, Tata Steel, Mahindra and Mahindra, Sun Pharma, Adani Enterprises, L&T and Swiggy. HUL recorded its strongest sales performance in 13 quarters, according to the company's stock exchange filing. The company attributed the profit decline to a one-off tax credit in the year-ago quarter.
Paper leak bill introduced in Monsoon Session
The government introduced the Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026, in Parliament this week, following protests over the alleged NEET-UG 2026 paper leak, according to parliamentary reporting. The move came after Prime Minister Narendra Modi announced fast-track courts for paper leak cases on July 23, pledging swift and stringent punishment for those involved. Opposition parties and student groups have continued to demand the resignation of the Union Education Minister.
Taslima Nasreen returns to Kolkata after nearly two decades
Exiled author Taslima Nasreen arrived in Kolkata on the night of July 31, marking her first return to the city since she was asked to leave in 2007, according to reports. She is scheduled to attend a civic reception and literary programme at Rabindra Sadan on August 1, an event that has drawn political attention in West Bengal over questions of free speech and religious sentiment.
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