Nifty Auto is the best-performing sectoral index of the session and is approaching fresh highs, while financials have emerged as the key outperformers, rising more than 2% in early to mid-trade.
Benchmark indices pushed higher through the afternoon session on Friday, with the Sensex trading at 78,227.53, up 299.38 points or 0.38 per cent, and the Nifty50 at 24,416.90, up 99.75 points or 0.41 per cent, as of 1.16 pm on July 31, 2026. The gains mark a broadening of the morning’s tentative advance as financial and automobile stocks extended their rally.Bajaj Finance was the standout gainer on the Nifty50, surging 8.60 per cent to ₹1,144.10 from a previous close of ₹1,053.50, on heavy volumes of over 2.89 crore shares worth ₹3,22,475.58 lakhs. Bajaj Finserv rose 5.84 per cent to ₹2,020.90 from ₹1,909.40 on volumes of 26.13 lakh shares. Mahindra & Mahindra advanced 4.66 per cent to ₹3,436.80 from ₹3,283.70, with nearly 47 lakh shares changing hands. Sun Pharmaceutical Industries gained 1.91 per cent to ₹2,039.40 from ₹2,001.10, while Shriram Finance added 1.81 per cent to ₹1,045.80 from ₹1,027.20.Auto sector risesNifty Auto is the best-performing sectoral index of the session and is approaching fresh highs, while financials have emerged as the key outperformers, rising more than 2 per cent in early to mid-trade.On the losing side, Eternal dropped 2.45 per cent to ₹303.05 from a previous close of ₹310.65 on volumes of over 2.08 crore shares. TCS shed 2.24 per cent to ₹2,377.30 from ₹2,431.80 on turnover of ₹60,159.43 lakhs, while Infosys trimmed its earlier losses to trade down 1.58 per cent at ₹1,136.80 from ₹1,155.10. Max Healthcare fell 0.96 per cent to ₹1,114 from ₹1,124.80, and Power Grid Corporation declined 0.91 per cent to ₹283.10 from ₹285.70.The IT sector’s weakness persists through the session despite Wall Street’s overnight surge, the Nifty IT index is seeing profit booking after a strong rebound rally over the past week. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that “Nifty IT has displayed weakness and witnessed profit booking post a strong rebound rally in past week,” even as “Nifty Auto is the best performing sector approaching fresh highs.”Positive sentimentBroader market breadth is positive. On the BSE, out of 3,790 stocks traded, 2,363 advanced against 1,226 declines, with 201 unchanged. A total of 93 stocks hit 52-week highs while 48 touched 52-week lows. On the Nifty50, the Advance-Decline Ratio stood at 25:25, pointing to a balanced session at the index level even as broader participation favours buyers.The Indian rupee is trading near ₹95.3 to the US dollar, extending its recent gains, which is providing additional support to domestic sentiment. Crude oil has eased further, with WTI crude trading near $82.2 per barrel after failing to hold above the $84 resistance zone, moderating one of the key risks flagged by analysts in the morning session. MCX Crude Oil is trading near ₹7,860, down from opening levels, amid continued geopolitical uncertainty in the West Asia.On the commodities front, MCX Gold is trading up 0.58 per cent near ₹1,44,000, while COMEX Gold has pulled back 0.69 per cent to $4,163.9. COMEX Silver is at $58.6 and MCX Silver is holding above ₹2,19,000, with both metals consolidating after recent gains.Technically, the Nifty now faces the 24,480–24,500 resistance band, as flagged by Shah, with options data showing meaningful call writing at the 24,400 and 24,500 strikes. On the put side, 24,300 carries substantial open interest, followed by 24,200, defining the immediate floor. For the Sensex, support is at 77,600 and resistance at 78,400. A move above 24,500 on the Nifty could open the path toward 24,700, while the 24,230–24,250 zone remains the crucial support on any pullback.Published on July 31, 2026
