Sensex Climbs 166 Points, Nifty Reclaims 24,380 as Bajaj Finance Surges 8%

Stock Market Today: Sensex Rises 166 Points, Nifty Tops 24,380 as Bajaj Finance Surges 8%

Indian benchmark equity indices ended higher on Friday, extending their winning streak to a second straight month, as strong earnings from Bajaj Finance and Mahindra & Mahindra boosted financial and auto stocks, offsetting losses in the IT sector.

The BSE Sensex gained 166.49 points (0.21%) to close at 78,094.64, while the NSE Nifty50 advanced 66.45 points (0.27%) to settle at 24,383.60.

Financials, Autos Lead the Rally

Financial and automobile stocks powered the day’s gains after Bajaj Finance posted better-than-expected quarterly earnings.

Among the top performers:

• Bajaj Finance surged 8.11%
• Bajaj Finserv climbed 6.60%
• Mahindra & Mahindra gained 3.58%
• Adani Ports rose 2.12%
• Tata Steel added 1.52%
• Reliance Industries advanced 1%

The rally came despite weakness in technology shares, which witnessed profit booking after a strong run earlier in July.

IT Stocks Weigh on Markets

The IT sector emerged as the biggest drag on the benchmarks.

Major losers included:

• TCS (-2.73%)
• Eternal (-2.72%)
• Infosys (-2.26%)
• Tech Mahindra (-1.03%)
• HCLTech (-0.50%)
• Sectoral Performance Mixed

Among sectoral indices, Nifty Auto led the gains with a 1.64% rise, while Financial Services Ex-Bank jumped 2.91%. Media, Oil & Gas and Pharma also ended in positive territory.

However, Nifty IT declined 1.56%, while FMCG slipped 1.05%.

Broader markets also remained firm, with the Nifty Midcap and Smallcap indices posting moderate gains. Meanwhile, India VIX fell 3.29% to 11.76, signalling lower market volatility.

Rupee Strengthens Despite Higher Oil Prices

The Indian rupee appreciated 0.3% to close at 95.38 against the US dollar, registering its strongest weekly gain since March. However, the currency still lost around 0.7% during July as elevated crude oil prices continued to weigh on sentiment.

International oil prices remained elevated, with Brent crude trading near $88.16 per barrel and WTI crude around $82.24, ending July with gains of roughly 21% and 18%, respectively.

Second Straight Monthly Gain for Markets

Friday’s close ensured a second consecutive month of gains for Indian equities—the first such streak this year.

Sensex gained about 2.1% in July.
Nifty50 rose around 2.2%, building on June’s advances.

Despite Friday’s decline, the Nifty IT index was the month’s standout performer, rallying 16.8%—its strongest monthly performance in six years. Stocks including HCLTech, Infosys, TCS and Tech Mahindra posted double-digit gains during the month, supported by strong earnings and increased global investor interest in Indian technology companies.

FIIs Return as Buyers

Foreign institutional investors (FIIs), after being heavy sellers in the first half of the year, turned net buyers in July, investing around $1.6 billion in Indian equities.

Market experts attributed the improved sentiment to resilient corporate earnings, renewed foreign inflows and the Reserve Bank of India’s measures to support the rupee.

According to Gaurav Didwania, Fund Manager and Partner at Qode PMS, global investors are increasingly shifting towards India’s broader earnings story.

He said that if crude oil prices moderate and geopolitical tensions ease, India’s strong economic fundamentals could make it an even more attractive destination for global investors.