Indian Stock Market Ends Higher for Third Straight Session; Sensex Gains 166 Points, Nifty Above 24,380
The Indian stock market closed higher for the third consecutive session as the Sensex gained 166 points and the Nifty 50 settled above 24,380, driven by strong buying in financial, automobile, and pharmaceutical stocks.
Prasanth Subramani
The Indian stock market extended its winning streak for the third consecutive trading session on Friday, July 31, with benchmark indices ending in positive territory. Strong buying in financial, automobile, and pharmaceutical stocks helped lift the markets despite mild profit booking in select information technology (IT) shares.
The BSE Sensex climbed 166.49 points, or 0.21%, to close at 78,094.64, while the NSE Nifty 50 advanced 66.45 points, or 0.27%, to settle at 24,383.60, remaining comfortably above the 24,380 mark.
Financial stocks led the rally after encouraging quarterly earnings from Bajaj Finance. Shares of Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, Sun Pharma, and UltraTech Cement emerged among the top gainers of the day, contributing significantly to the market's positive momentum.
Broader market sentiment remained upbeat, supported by continued foreign institutional investor (FII) inflows, strong corporate earnings, and favourable global market cues. However, gains were partially limited by profit booking in select IT stocks as investors locked in recent gains.
According to market experts, investor confidence continues to remain strong, backed by India's resilient economic outlook despite concerns surrounding rising global crude oil prices and inflation. The steady performance of domestic equities reflects optimism ahead of additional quarterly earnings announcements and key macroeconomic developments.
Market participants will now closely monitor upcoming corporate earnings, foreign fund flows, global economic trends, crude oil prices, and domestic macroeconomic data for further direction in the equity markets.
Market Snapshot:
• BSE Sensex: 78,094.64 ▲ +166.49 (+0.21%)
• NSE Nifty 50: 24,383.60 ▲ +66.45 (+0.27%)
With benchmark indices posting gains for the third straight trading session, the Indian stock market enters the new week with positive momentum, supported by sustained buying across key sectors and improving investor sentiment.
