Indian Stocks Rise; Wall Street Surges on Tech Strength

Indian equity benchmarks, including the BSE Sensex and NSE Nifty50, extended their gains on Friday, July 31, 2026. This upward movement was primarily driven by strong performances within the auto and pharma sectors ahead of the August 3 trading session.

Key Indian Market Moves

• BSE Sensex: Rose by 0.4% to 78,236.
• NSE Nifty50: Increased by 0.41% to 24,417.00.

Globally, Wall Street indices closed significantly higher on Thursday, July 30, 2026. The surge was largely attributed to a boost from hyperscalers like Amazon Inc. and semiconductor manufacturers such as Micron Technology Inc.

Global Market Performance

• Dow Jones Industrial Average: Gained 1.2% to 52,208.06.
• S&P 500: Climbed 1.7% to 7,437.64.
• Nasdaq Composite: Surged 2.8% to 25,122.18.

The first quarter earnings season delivered a mixed bag of results for numerous companies. Several firms reported profit increases, while others faced declines or widened losses.

Q1 Earnings Highlights

• Xpro India: Reported a net profit of Rs 7.9 crore, reversing a previous loss.
• Bajaj Holdings: Experienced a 22.4% decline in profit.
• Urban Company: Net loss widened to Rs 92 crore.
• Aadhar Housing Finance: Saw a 19% rise in net profit.
• ITC: Reported a decline in both net revenue and profit.
• Maruti Suzuki: Also recorded a decrease in net profit and EBITDA.
• Ram Ratna Wires, SMS Pharma, Corona Remedies, and ABB India: All reported increases in profit and revenue, with ABB India also declaring a special dividend.

Significant corporate developments included funding approvals, acquisitions, and new product launches across various sectors. These actions are set to shape future business landscapes.

Key Corporate Developments

• ideaForge Technology: Received in-principle approval for Rs 151 crore in funding.
• Park Medi World: Acquired an 80% stake in V3 Healthcare.
• Hero MotoCorp: Launched a new electric scooter.
• PNC Infratech: Secured an EPC contract worth Rs 302.44 crore.
• Maruti Suzuki: Its board approved four compressed biogas projects valued at Rs 561 crore.
• Lupin: Received U.S. FDA approval for Diazepam Injection USP.

Further corporate actions included interim dividend declarations and crucial board meetings. Trading tweaks also impacted specific securities, with changes to price bands and framework updates.

Additional Corporate Actions & Trading Tweaks

• Interim Dividends: Declared by Coforge and Transrail lighting.
• Bulk and Block Deals: Kotak Mahindra Mutual Fund bought shares in Rossell Techsys; HRTI executed transactions in BlueStone Jewellery & Lifestyle and Nelco.
• Insider Trades: Promoters sold shares in Karur Vysya Bank; a promoter group bought shares in Sterlite Technologies.
• Price Band Changes: Applied to Thangamayil Jewellery, Sigma Solve, and SML Mahindra.
• ASM Framework: Updates for securities in the Short-Term ASM Framework.

Futures and Options (F&O) cues indicate a positive bias for the Nifty. Strong Q1FY27 earnings and healthy domestic macroeconomic factors support the current market sentiment.

F&O Cues and Outlook

• Nifty Aug Futures: Up 0.30% at Rs. 24430.
• Maximum Call OI: Registered at 24600.
• Maximum Put OI: Registered at 24000.

The trade setup suggests Nifty bulls are targeting a 24,550 breakout. This maintains a positive bias, bolstered by robust Q1FY27 earnings and resilient domestic macroeconomic conditions.