MARKET OPENS ON NUDGE HIGHER; NIFTY TRADES ABOVE 24,300 LEVEL

Published on Jul 31, 2026 09:43

The domestic equity indices opened marginally higher on Friday, with the Nifty trading above the 24,300 level in early trade. Gains in auto, pharma and chemicals stocks supported the market, while IT, FMCG and oil & gas shares witnessed selling pressure.

At 09:30 IST, the barometer index, the S&P BSE Sensex, rose 50.50 points or 0.06% to 77,978.65. The Nifty 50 index added 21.45 points or 0.09% to 24,340.70.

In the broader market, the BSE 150 MidCap Index rose 0.30% and the BSE 250 SmallCap Index jumped 0.49%.

The market breadth was strong. On the BSE, 1,960 shares rose and 956 shares fell. A total of 160 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,623.51 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,864.03 crore in the Indian equity market on 30 July 2026, provisional data showed.

Stocks in Spotlight:

RailTel Corporation slipped 3.19% after the company reported a 0.5% year-on-year decline in net profit to Rs 65.8 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 66.1 crore in the corresponding quarter last year. Revenue from operations rose 20.1% to Rs 893 crore in Q1 FY27 from Rs 744 crore in Q1 FY26.

Pricol advanced 3.45% after the company reported a 34% year-on-year increase in consolidated net profit to Rs 67 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 50 crore in the corresponding quarter last year. Revenue from operations rose 23.5% to Rs 1,105 crore in Q1 FY27 from Rs 895 crore in Q1 FY26.

Honda India Power Products shed 0.13%. The company reported a 16.8% year-on-year increase in net profit to Rs 11.1 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 9.5 crore in the corresponding quarter last year. Revenue from operations rose 21.9% to Rs 189 crore in Q1 FY27 from Rs 155 crore in Q1 FY26. The company has appointed Sameer Jain as chief financial officer (CFO) with effect from 1 October 2026. Vinay Mittal will retire as CFO with effect from 30 September 2026.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper was down 0.13% to 6.802 as compared with the previous close of 6.796.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.3400 compared with its close of 95.5050 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement shed 0.57% to Rs 1,42,413.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.32% to 100.03.

The United States 10-year bond yield shed 0.30% to 4.649.

In the commodities market, Brent crude for September 2026 settlement lost $1.08 or 1.24% to $85.80 a barrel.

Global Market:

Asian markets rallied hard with Wall Street on Friday as South Korea`s battered market made a record comeback, stirring hopes that the recent selloff in AI-linked assets may be near an end.

The yen was also firmly in the spotlight, holding some distance away from a 40-year trough after suspected coordinated intervention from various authorities, which came ahead of the Bank of Japan`s (BOJ) rate decision later in the day.

Oil prices fell on Friday, with Brent crude futures were down 1.2% at $88.00 per barrel, while U.S. crude dropped more than 2% to $81.82 ⁠a barrel.

A drone strike on gas vessels in Egypt`s Mediterranean port of Damietta signalled a potential new front in the U.S.-Iran war, raising the prospect of threats to navigation through the Suez Canal, one of the last remaining export routes for Saudi oil.

Wall Street ended sharply higher on Thursday, with chip stocks jumping and Microsoft logging its biggest daily percentage gain in 18 years after the technology giant gave a stellar forecast that eased fears about massive spending on AI infrastructure.

The S&P 500 climbed 1.66% to end the session at 7,437.63 points. The Nasdaq gained 2.78% to 25,122.18 points, while the Dow Jones Industrial Average rose 1.19% to 52,208.06 points.

Microsoft jumped over 15%, boosting its stock market value by $450 billion, the greatest-ever single-day increase for a company on Wall Street.

The tech heavyweight forecast quarterly sales and cloud growth above expectations. It also reported capital expenditures below estimates and said it expects to keep generating cash through its fiscal 2027 that has just begun.