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NIFTY TRADES TAD ABOVE 23,400 LEVEL; PSU BANK SHARES IN DEMAND

Published on Jul 31, 2026 14:30

The domestic equity benchmarks traded with modest gains in mid-afternoon trade. The Nifty traded a tad above the 24,400 level. PSU bank extended gains for three consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 260.93 points or 0.33% to 78,189.08. The Nifty 50 index rose 86.35 points or 0.36% to 24,403.50.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.49% and the BSE 250 SmallCap Index added 0.63%.

The market breadth was strong. On the BSE, 2,529 shares rose and 1,610 shares fell. A total of 212 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index rose 0.62% to 8,379.25. The index jumped 1.19% in the three consecutive trading sessions.

Punjab & Sind Bank (up 1.26%), Indian Bank (up 1.17%), UCO Bank (up 1.16%), Union Bank of India (up 1.12%) and Punjab National Bank (up 0.99%), Bank of Baroda (up 0.99%), Bank of India (up 0.85%), Indian Overseas Bank (up 0.71%), Canara Bank (up 0.59%) and State Bank of India (up 0.43%) jumped.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper shed 0.10% to 6.804 compared with the previous session close of 6.811.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.4400 compared with its close of 95.5050 during the previous trading session.

MCX Gold futures for 5 August 2026 settlement shed 0.84% to Rs 1,42,026.

The US Dollar Index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.15% to 100.13.

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

In the commodities market, Brent crude for September 2026 settlement shed 87 cents or 0.98% to $88.16 a barrel.

Stocks in Spotlight:

Tata Steel rose 1.95% after the company reported 18.8% increase in consolidated net profit to Rs 2,385 crore on a 14.3% rise in revenue from operations to Rs 60,794 crore in Q1 FY27 as compared with Q1 FY26.

Bajaj Finserv (BFS) jumped 5.85% after the company reported a 12.31% increase in consolidated net profit to Rs 3,132.35 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 2,789.05 crore in Q1 FY26. Revenue from operations rose 19.13% YoY to Rs 42,036.90 crore in Q1 FY27.

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