Pre-Market Brief: Nifty 50 Closes Above 24380 as Financials Lead Gains; IT Sector Drags | 03 Aug 2026, 08:00 AM IST
By ThePip Desk
Nifty 50 closes at 24383.60 with a +0.27% gain, driven by financial stocks. DIIs continue buying while FIIs show a mixed trend. Focus shifts to market breadth at the 9:15 AM open.
The Nifty 50 concluded the previous trading session at 24383.60, marking a gain of +0.27% or +66 points. This upward movement was supported by broader market strength, as the NIFTY Midcap 100 also advanced by +0.44%, closing at 62915.30. The Nifty Bank index contributed to the positive sentiment, rising +0.21% to settle at 57264.85.
Index Snapshot
| Index | Close | Change% |
|---|---|---|
| Nifty Bank | 57264.85 | +0.21% |
| NIFTY Midcap 100 | 62915.30 | +0.44% |
| Nifty 50 | 24383.60 | +0.27% |
FII and DII Activity
Analysis of the last five reported sessions ending July 31, 2026, shows varied institutional activity. On July 31, Foreign Institutional Investors (FIIs) recorded net buying of +277.48 crore, while Domestic Institutional Investors (DIIs) were also net buyers with +2260.37 crore. This follows a period of mixed FII flows, including a net sell of −1688.23 crore on July 27, which marked one consecutive sell session for them at that time. Notably, FIIs showed significant buying on July 30 (+3623.51 crore) and July 29 (+2981.87 crore). DIIs have largely maintained a buying stance throughout this period, with the exception of July 30 where they were net sellers by −1864.03 crore.
Top Movers and Market Breadth
The previous session saw strong performance from key financial stocks. Bajaj Finance Ltd. (BAJFINANCE) emerged as the top gainer, surging +8.32% to ₹1141.2. Bajaj Finserv Ltd. (BAJAJFINSV) also posted significant gains, up +6.27% to ₹2029.1. Other notable gainers included JIO Financial Services Ltd. (JIOFIN) with +3.85%, Mahindra & Mahindra Ltd. (M&M) rising +3.50%, and Adani Ports and Special Economic Zone Ltd. (ADANIPORTS) gaining +1.95%. This indicates a positive momentum in the financial and automotive sectors.
Conversely, the IT sector faced headwinds. Tata Consultancy Services Ltd. (TCS) was among the top losers, declining −2.72% to ₹2365.6. Infosys Ltd. (INFY) also saw a drop of −2.16% to ₹1130.1, and Wipro Ltd. (WIPRO) fell −1.44% to ₹183.65. Other significant decliners included Eternal Ltd. (ETERNAL) down −2.64% and Max Healthcare Institute Ltd. (MAXHEALTH) losing −2.34%. The Nifty 50 market breadth was nearly balanced, with 26 advances and 24 declines out of 50 constituents.
What to Watch at 9:15 AM
As markets prepare for the 9:15 AM open, investors will closely monitor the continuation of institutional flows and the performance of the financial sector. The balanced market breadth from the previous session suggests a cautious yet positive undertone. Today’s open will likely reflect the interplay between strong financial momentum and the prevailing weakness in IT stocks.