Indian Equity Indices Rise for Third Session on Strong Financials

The BSE Sensex and NSE Nifty indices extended their winning streak to a third consecutive session on July 31, 2026. The Sensex closed at 78,094.64, up 166.49 points (0.21%), while the Nifty50 advanced 66.45 points (0.27%) to close at 24,383.60.

Growth was primarily driven by strong first-quarter results in the financial services and automobile sectors. Bajaj Finance surged between 8.1% and 8.6%, while Bajaj Finserv rose up to 6.6%. Other significant gainers included Jio Financial Services and Mahindra & Mahindra, the latter of which rallied 3.6% following a reported increase in Q1 net profit.

Overall market gains were tempered by profit booking in the IT sector, which snapped a five-session winning streak for the Nifty IT index. Stocks including Tata Consultancy Services and Infosys saw declines of 2-3%. Market sentiment was bolstered by a strengthening Indian rupee and easing crude oil prices, though investors remained cautious due to Middle East tensions and uncertainty surrounding the Federal Reserve's interest rate trajectory.