Indian equity benchmark indices extended their winning streak to a third consecutive session on Friday, July 31, 2026, as robust first-quarter earnings results from major corporates like Bajaj Finance and Mahindra & Mahindra, combined with foreign institutional buying, bolstered investor confidence. The BSE Sensex settled near the 78,000 mark while the NSE Nifty 50 closed above 24,350, supported by easing global crude oil prices and strong domestic market breadth.Market Performance OverviewThe domestic equity markets opened on a positive note, carrying forward momentum from the previous two sessions. Broad-based participation across heavyweights helped offset profit-booking in select IT and banking stocks.BSE Sensex: Advanced to close near 78,000, building on gains from the previous session's close of 77,928.15.NSE Nifty 50: Climbed above 24,350, extending gains past its key immediate resistance levels.Foreign Institutional Investors (FIIs): Turnaround in institutional flows provided strong support, with FIIs buying net equities worth ₹3,623.51 crore in the preceding session.Macro Drivers: Brent crude oil prices eased to .16 per barrel, cooling inflation worries and giving a boost to import-intensive sectors.Earnings-Driven Movers: Financials & Auto Lead the PackThe current leg of the rally has been predominantly fueled by strong Q1 FY27 financial results and upbeat management guidance across core sectors.Stock / IndexPerformanceKey CatalystBajaj FinanceSurged over 6%Posted a 28% YoY jump in consolidated net profit to ₹6,081 crore.Bajaj FinservUp 3.5%–5%Supported by strong group lending performance and reinsurance entry approval.Mahindra & MahindraGained 1.6%Quarterly earnings beat propelled the Nifty Auto index higher.Nifty Auto IndexUp 1.2%Strong domestic demand for SUVs and commercial vehicles.IT HeavyweightsIn ConsolidationSelective profit-taking in Infosys and TCS restricted broader index upside.Global Cues & Technical OutlookGlobal equity markets traded firmly higher following softer US PCE inflation data and lower bond yields, reinforcing expectations of accommodative monetary policy.Market analysts point out that Nifty holding above the 24,200–24,250 support zone keeps the short-term bullish structure intact. A decisive breakout above the 24,400–24,500 band could open the trajectory toward 24,700 levels in the upcoming sessions. Investors are advised to maintain a buy-on-dips strategy while focusing on quality large-cap names with resilient earnings visibility.For a complete breakdown of market trends, sectoral performance, and analyst commentaries, watch CNBC-TV18's Market Gains Report. This coverage offers in-depth analysis on how macroeconomic indicators, global cues, and earnings results are shaping Dalal Street's current rally.Also Read :- Sensex, Nifty 50 End Higher as Midcap and Small-Cap Stocks Lag Amid Rising US Bond YieldsDisclaimer: This article is published for informational and educational purposes only and should not be construed as financial, investment, or trading advice. The views, opinions, estimates, and recommendations, if any, are those of the respective analysts, experts, or brokerage firms cited and do not necessarily reflect the views of Bumppy News. Readers are advised to conduct their own research and consult a SEBI-registered financial advisor or other qualified professional before making any investment or financial decisions. Investments in securities and financial markets are subject to market risks.
