Sensex rises over 50 points, Nifty above 24,350; Bajaj twins, M&M among top gainers Synopsis The Indian stock market extended gains on Friday as the Sensex rose 50 points and Nifty crossed 24,350 amid positive global cues.
Bajaj Finance and M&M led gainers, while Nifty IT dragged.
Strong FII inflows and stable earnings continue supporting market resilience, with technical charts signalling further upside towards 24,500.
By Debaroti Adhikary, ETMarkets.com XPeers HCL Technologies Share Price Tata Consultancy Services Share Price Infosys Share Price Wipro Share Price Tech Mahindra Share Price Last Updated: Jul 31, 2026, 09:51:00 AM IST Follow us The Indian stock market extended gains for a third consecutive session on Friday, with benchmark indices the Sensex and the Nifty trading higher amid overall bullish global market sentiment.ADVERTISEMENT At 9:22 am, the Sensex rose over 50 points to trade at the 77,950 level, while the Nifty 50 gained over 50 points to trade above the 24,350 mark.
Broader markets also remained in the green, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising up to 0.3%.Bajaj Finance, M&M, Bajaj Finserv, Trent and Asian Paints shares were the top gainers on the Sensex, rising up to 3%.
IT stocks including Infosys, Tech Mahindra, HCL Technologies and TCS, meanwhile, slipped up to 4% to lead losses.
Nearly all sectoral indices apart from Nifty IT traded in the green.
Nifty IT, however, dropped more than 2% after Wall Street majors and AI heavyweights Amazon and Microsoft posted strong earnings, triggering a wave of global AI optimism.
The overall market breadth, meanwhile, turned positive, with the NSE seeing 1,473 advances against 844 declines, while 94 stocks remained unchanged.
What lies ahead?
A significant feature of recent stock market trends in countries like the US and South Korea has been the unusually huge volatility in stock price movements, VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted.
He noted that tech stocks are witnessing huge volatility in response to quarterly results, expectations and unprecedented speculative trading.In South Korea, particularly, volatility is excessive.
Two stocks in Kospi, Samsung and SK Hynix, which account for 52% of Kospi’s market capitalisation, have been moving up and down sharply.
In early trade this morning, the Kospi is up by 16%, driven by a 25% spike in Samsung and a 21% spike in SK Hynix.ADVERTISEMENT Double-digit up moves and down moves at the index level are very rare, Vijayakumar said, adding that this is happening now in South Korea too frequently.
During the last three days, FIIs have cumulatively bought equity for Rs 7,360 crore.
This FII buying, though not a distinct trend so far, has the potential to impart resilience to the market.
Q1 results released so far indicate a revival of earnings growth momentum," according to the analyst.ADVERTISEMENT ADVERTISEMENT Tech view on Nifty Nifty’s bias remains positive as the index continues to form higher highs and higher lows on the daily chart, Bajaj Broking said.
It expects the index to maintain a positive bias and head towards 24,390 and 24,500 in the coming sessions.
Wednesday's gap area of 24,041-24,136 is likely to act as immediate support, according to the domestic brokerage."From a short-term perspective, the index is likely to head towards the key resistance area of 24,500-24,600 levels, being the confluence of the current month's high and the high of April 2026.
On the downside, support is revised higher towards 23,800-24,000 levels, being the confluence of the 20 and 50-day EMAs and the bullish gap area of Monday," it added.
