Market Opening
On Friday, July 31, 2026, Indian equity markets opened modestly higher. The Nifty 50 index started at 24,354.55, reflecting a 0.15% rise, while the BSE Sensex 30 opened at 77,985.17, up 0.07%. The broader NSE index (NSEI) gained 0.30% and the BSE index (BSESN) rose 0.20%.
Currency Movement
The Indian rupee appreciated against the U.S. dollar, with the USD/INR rate trading at 95.370, a 0.32% decline from the previous level. A firmer rupee is expected to help contain imported inflation by moderating price pressures from overseas.
Commodity Prices
Global oil price declines provided a supportive backdrop. West Texas Intermediate (WTI) crude fell 1.51% to $82.34 per barrel, and Brent crude dropped 1.23% to $85.81 per barrel. Gold prices slipped 0.63% to $4,075.60 per ounce, indicating reduced safe‑haven demand as risk appetite improved.
Market Drivers
The rally was underpinned by continued foreign institutional investor (FII) buying, softer oil prices, and positive global equity cues after the U.S. Federal Reserve kept interest rates unchanged earlier in the week. Lower oil import costs are easing concerns over India’s inflation trajectory, fiscal balance, and current‑account pressures.
Top Gainers and Losers
Gainers – Mahindra & Mahindra (auto sector) advanced on renewed investor interest in automobile stocks; Coal India saw buying on firm sector sentiment; Maruti Suzuki rose following an earnings‑driven move in the prior session.
Losers – Adani Ports experienced profit‑booking after recent gains; ICICI Bank edged lower amid selective selling in financial stocks; Axis Bank faced pressure despite the broader market’s positive tone.
Outlook
Investors will watch quarterly corporate earnings, further movements in crude oil prices, rupee fluctuations, FII activity, global equity performance, central‑bank expectations, geopolitical developments, and upcoming macroeconomic data releases for additional direction. The near‑term market trajectory is likely to remain driven by corporate earnings, institutional fund flows, commodity price dynamics, and global risk sentiment.