Domestic stock markets wrapped up the final trading day of the week on a strong positive note, defying early morning sluggishness to stage an impressive recovery driven by heavyweights. The Bombay Stock Exchange (BSE) benchmark Sensex surged past the crucial 78,000 threshold to close at 78,094.64, registering a gain of 166.49 points or 0.21 percent. Simultaneously, the National Stock Exchange (NSE) Nifty50 index advanced by 66.45 points or 0.27 percent to settle comfortably at 24,383.60, keeping investor sentiment upbeat on the last session of July.
Bajaj Finserv And Bajaj Finance Lead Market Surge
The afternoon turnaround was predominantly powered by exceptional buying interest in the Bajaj group stocks. Shares of Bajaj Finance skyrocketed by over 8 percent, while Bajaj Finserv recorded gains exceeding 6 percent, single-handedly propelling the broader market indices upward. Out of the 30 Sensex constituents, 14 counters closed in the green, with notable gains coming from Trent, UltraTech Cement, Maruti Suzuki, Titan, and BEL. On the flip side, profit-booking dragged tech majors like TCS, Infosys, and Eternal down by more than 2 percent.
Intra-Day Momentum And Rupee Strength Against US Dollar
Earlier in the session, the markets experienced mild fluctuations, opening slightly higher following positive cues from Gift Nifty. The Sensex dipped below the 78,000 mark briefly during morning trade before a sharp post-noon recovery pushed it to an intraday high of 78,272. Meanwhile, the Indian rupee performed strongly in the currency market, opening 29 paise higher against the US dollar to touch a three-week high of 95.39. This currency appreciation was supported by a notable softening of crude oil prices, a weakening US dollar, and strong expectations of continued macroeconomic backing from the Reserve Bank of India (RBI).
Global Cues, Quarterly Earnings, And Commodity Trends
Global market sentiment provided strong tailwinds, characterized by a massive rally across Asian indices where South Korea’s Kospi jumped over 15 percent and Japan’s Nikkei 225 surged more than 5 percent, fueled by renewed investor optimism in artificial intelligence (AI) infrastructure spending. Wall Street similarly closed on a record-setting high overnight. On the domestic corporate front, market participants closely tracked heavy first-quarter earnings reports released today by major entities including ITC, Indian Oil Corporation, Maruti Suzuki, GAIL, Sun Pharma, and several others, while crude oil held steady near $89 per barrel and gold hovered around $4,100 an ounce.