GIFT Nifty Opening Update
GIFT Nifty opened today at 24,412.50. It is up 59.50 points (0.24%) from yesterday’s close of 24,363.00— so the trend is positive.
Benchmark indices, the Sensex and the Nifty 50, continued their upward trajectory for a second consecutive session on Thursday, July 30, bolstered by purchases in major stocks including Reliance, HDFC Bank, and Mahindra and Mahindra. However, broader markets experienced pressure following the US Federal Reserve’s decision to maintain interest rates, while signalling that rate cuts might commence as soon as September. The Sensex climbed 274 points, or 0.35%, to close at 77,928, while the Nifty 50 gained 67 points, or 0.28%, to settle at 24,317.
“Markets traded in a volatile yet narrow range and settled marginally higher amid mixed cues. After a flat start, the Nifty traded within a narrow range for most of the session. However, buying in heavyweight stocks kept the undertone positive. Consequently, the Nifty settled at 24,317.15, up 0.28%. Sentiment remained mixed as the US Fed kept rates unchanged but signaled a hawkish stance, boosting rate hike expectations later this year. Further, Brent crude nearing the $90 mark with renewed geopolitical concerns kept markets on edge. However, stability in the rupee and stock specific buying across sectors due to the ongoing earnings season outcome continue to support the recovery. IT, a key contributor to the recent market strength, retreated from its intraday high near the resistance zone, signalling a cautious undertone in the sector,” said Ajit Mishra.
As the market maintained a positive trajectory, certain stocks are expected to attract attention on Friday owing to their individual positive or negative catalysts.
Equities to Monitor:
- Maruti Suzuki India, ITC, Bajaj Finserv, Indian Oil Corporation, Dixon Technologies, Urban Company, and Sun Pharmaceutical Industries will attract attention as these companies are set to announce their Q1 results for 2026 today.
- Swiggy reported a consolidated net loss for the June quarter that was smaller than anticipated, with revenue and operating performance largely aligning with market expectations. Its net loss decreased to Rs 791 crore from Rs 1,197 crore in the same quarter of the previous year.
- Torrent Pharma reported a 3.3% year-on-year increase in net profit to Rs 566 crore for the June quarter, while revenue from operations jumped 54.8% to Rs 4,921 crore.
- Tata Steel reported a consolidated net profit of Rs 2,318.4 crore for the June quarter, reflecting an 11.6% increase compared to Rs 2,077.7 crore in the same period last year.
- Mazagon Dock Shipbuilders exhibited a strong performance in the June quarter, with net profit increasing by 21.5% year-on-year to Rs 549.4 crore, up from Rs 452.2 crore. Revenue from operations increased by 12.1%, reaching Rs 2,943 crore, in contrast to Rs 2,626 crore from the previous year.
- JBM Auto reported a 14.7% year-on-year increase in net profit for the first quarter of FY27, propelled by robust expansion in its electric vehicle and auto components sectors.
- RailTel Corporation of India reported a net profit of Rs 66 crore for the quarter ended June 30, remaining largely unchanged from a year ago, despite achieving double-digit year-on-year growth in both revenue and operating profit.
- LIC Housing Finance reported a 9.9% year-on-year increase in net profit for the June quarter, whereas its net interest income, a crucial measure of a lender’s fundamental earnings, experienced only a slight growth relative to the same period last year.
- Astra Microwave Products announced that it has secured an order valued at Rs 2,205.23 crore from Hindustan Aeronautics Limited, a Ministry of Defence enterprise, for the provision of equipment related to the Uttam Radar programme, as stated in an exchange filing on Thursday.