Share Market Today: Sensex Gains 166 Points, Nifty Closes Above 24,350; Bajaj Twins Lead While IT and FMCG Drag

Indian Stock Market Today |Indian benchmark indices extended their gains for the third consecutive session on Friday, 31 July 2026, supported by strong buying in financial-services and automobile stocks. Bajaj Finance, Bajaj Finserv and M&M provided the biggest boost after their June-quarter results strengthened investor confidence.

The positive domestic earnings environment, continued foreign-investor buying and firm global sentiment helped the market absorb sharp selling in technology and FMCG stocks. The Nifty and Sensex also recorded their second consecutive monthly gain, advancing 2.2% and 2.1%, respectively, during July.

At the Closing Bell:

• BSE Sensex: Advanced 166.49 points to close at 78,094.64 (+0.21%)
• Nifty 50: Gained 66.45 points to settle at 24,383.60 (+0.27%)
• Bank Nifty: Rose 117.35 points to close at 57,264.85 (+0.21%)

Why Did the Indian Stock Market Move Today?

Strong Bajaj Finance Results Lifted Financial Stocks

Financial Services advanced 1.31%, supported by a sharp rally in Bajaj Finance, Bajaj Finserv and Jio Financial Services.

Bajaj Finance surged 8.32% after reporting a 28% year-on-year increase in first-quarter profit after tax. Net interest income grew 23%, while improving asset quality, accelerating loan growth and stable margins encouraged multiple brokerages to raise their target prices.

Bajaj Finserv gained 6.27% after reporting a 12% increase in consolidated net profit to ₹3,132 crore, while total income rose approximately 19% during the quarter.

Automobile Stocks Extended Their Rally

The Auto index gained 1.64%, emerging as the strongest-performing major sector in the provided sector snapshot.

M&M was among the major contributors after its strong quarterly performance strengthened expectations around automobile demand and earnings growth. The stock gained approximately 3.5% during the session, adding meaningful support to the benchmarks.

Energy and Pharma Provided Additional Support

The Energy index advanced 1.09%, while Pharma gained 0.72%. Selective buying in Reliance Industries, Sun Pharma and other large-cap counters helped offset losses in technology and consumption-oriented companies.

Metal and Realty also finished marginally positive, gaining 0.14% and 0.22%, respectively.

IT Stocks Witnessed Sharp Selling

The IT index declined 1.56%, becoming the weakest-performing major sector of the session.

TCS, Infosys, Wipro and Tech Mahindra came under pressure as strong results from global AI-focused companies renewed investor interest in businesses with direct exposure to artificial intelligence and cloud infrastructure. This raised concerns that traditional Indian IT-service companies may need to accelerate their AI capabilities to remain competitive.

TCS declined 2.72% and emerged as the biggest loser among the stocks shown in the market snapshot. Infosys and Wipro also ended lower.

FMCG and Consumer Durables Ended Lower

The FMCG index declined 1.05%, while Consumer Durables fell 0.44%.

Profit-booking in defensive and consumption-oriented counters restricted the benchmark indices from registering stronger gains despite the sharp rally in financial and automobile stocks.

Lower Volatility Supported Market Sentiment

India VIX declined approximately 3.7% to 11.71, indicating easing expectations of near-term market volatility. The lower volatility reading, along with continued foreign-investor buying, supported risk appetite during the session.

Market Overview – Sector & Stock Action Summary

Indian benchmark indices ended moderately higher, with the Nifty closing above 24,350 and the Sensex advancing approximately 166 points.

The market’s positive performance was primarily driven by financial-services and automobile stocks. Bajaj Finance, Bajaj Finserv and Jio Financial Services were the leading gainers, while strong earnings-related buying in M&M further supported the Auto index.

Broader markets also participated in the rally, with the Nifty Midcap 100 and Nifty Smallcap 100 gaining more than 0.4%. Market breadth remained positive, indicating that the buying extended beyond a limited group of index heavyweights.

However, the overall performance remained mixed. IT and FMCG witnessed notable selling, while Consumer Durables also ended lower. TCS, Eternal and Max Healthcare featured among the leading Nifty losers.

Key Sector Performance Snapshot

• Auto: +1.64% → Led the market as M&M and other automobile companies gained following strong quarterly earnings and continued demand optimism.
• Financial Services: +1.31% → Advanced sharply as Bajaj Finance, Bajaj Finserv and Jio Financial Services attracted strong buying.
• Energy: +1.09% → Gained on selective accumulation in Reliance Industries and other energy-related companies.
• Pharma: +0.72% → Ended higher as investors accumulated select defensive healthcare and pharmaceutical stocks.
• Realty: +0.22% → Registered a modest recovery following the previous session’s sharp decline.
• Metal: +0.14% → Closed marginally positive amid selective buying in major metal counters.
• Consumer Durables: -0.44% → Declined due to profit-booking in consumption-oriented companies.
• FMCG: -1.05% → Underperformed as investors reduced exposure to defensive consumer stocks.
• IT: -1.56% → Emerged as the weakest sector as TCS, Infosys, Wipro and Tech Mahindra faced selling pressure.

Top Gainers

• BAJFINANCE: +8.32% at ₹1,141.20 → Surged after reporting stronger-than-expected profit and net-interest-income growth, faster asset growth and improved asset quality.
• BAJAJFINSV: +6.27% at ₹2,029.10 → Rallied after reporting a 12% year-on-year increase in quarterly consolidated profit and healthy growth in total income.
• JIOFIN: +3.85% at ₹256.46 → Gained on broad-based buying in financial stocks and optimism surrounding the expansion of its financial-services businesses.

Top Losers

• TCS: -2.72% at ₹2,365.60 → Declined amid broad-based selling in Indian IT stocks and concerns over growing global AI competition.
• ETERNAL: -2.64% at ₹302.45 → Faced stock-specific selling and profit-booking despite the positive broader market.
• MAXHEALTH: -2.34% at ₹1,098.50 → Declined amid stock-specific profit-booking, even as the broader Pharma index ended higher.

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 44 points high at 24,361 reached a high of 24,429 and closed at 24,383.

• Immediate Support: 24,300
• Immediate Resistance: 24,500

BANK NIFTY: Opened 78 points higher at 57,225, reached a high of 57,411 and closed at 57,264.

• Immediate Support: 57,000
• Immediate Resistance: 57,500

World Markets, Crude & Gold Prices

Global Equities

Global equity markets traded broadly higher as strong quarterly results from Amazon and Microsoft revived confidence in artificial-intelligence and technology stocks. Asian markets rebounded sharply, led by a strong recovery in South Korean semiconductor and AI-linked companies following the previous session’s sell-off.

European markets also advanced, with the STOXX 600 touching a record high. Technology shares led the rally, while positive earnings from select financial, semiconductor and industrial companies supported the broader market.

US stock futures traded higher, with Nasdaq 100 futures gaining more than 1%, while S&P 500 and Dow futures also moved into positive territory. However, investors remained cautious due to geopolitical tensions, uncertainty surrounding the Federal Reserve’s future policy path and volatility in the Japanese yen.

Crude Oil

Brent crude traded at $92.164 per barrel, up $0.252 or 0.27%.

Oil prices edged higher as investors continued to assess possible supply disruptions and reduced shipping activity through the Strait of Hormuz and Bab el-Mandeb amid ongoing Middle East tensions. Attacks on regional energy infrastructure and shipping routes continued to support a geopolitical risk premium in crude prices.

Brent remained above the $92 mark and was on track for a strong monthly gain following a sharp increase in geopolitical and supply-related risks. However, concerns about slower global demand growth and the possibility of improved regional oil flows restricted stronger gains.

Elevated crude prices remain a concern for India because they can increase inflation, widen the import bill, pressure the rupee and reduce margins for fuel-intensive sectors such as aviation, paints, chemicals and logistics.

Gold Prices

Gold traded at $4,058.63 per ounce, down $44.85 or 1.09%.

The precious metal declined as investors booked profits following its recent rally and shifted toward riskier assets amid a rebound in global equity markets. A firmer US dollar and elevated Treasury yields also reduced the appeal of non-yielding assets such as gold.

The Federal Reserve’s decision to keep interest rates unchanged while maintaining a firm stance on inflation continued to create uncertainty over future rate moves. Expectations that borrowing costs could remain elevated for longer added pressure to bullion prices.

However, geopolitical tensions in the Middle East and risks surrounding global energy supplies may continue to provide underlying safe-haven support. Gold is likely to remain volatile depending on US economic data, movements in the dollar and Treasury yields, and further geopolitical developments.

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