Indian Bourses Sustain Momentum as Bajaj Finance Leads Banking Sector Gains
Benchmark indices Sensex and Nifty edged higher in early Friday trade, buoyed by strong foreign institutional investment and robust quarterly earnings from financial heavyweights. While Bajaj Finance surged 6% on improved asset quality, persistent profit-booking in major IT firms capped the overall
Key takeaways
- Bajaj Finance led market gains with a 6% surge after reporting a ₹6,081 crore profit for the June quarter.
- Foreign Institutional Investors remained bullish, net purchasing ₹3,623.51 crore in equities on July 30.
- The Indian Rupee strengthened by 20 paise to 95.30 against the US Dollar as global oil prices declined.
- Gains in the financial and auto sectors were partially offset by profit-taking in major IT stocks like TCS and Infosys.
Early Trade Performance
Domestic equity benchmarks opened Friday's session with modest gains, continuing the positive momentum from the previous day. The 30-share BSE Sensex climbed 49.91 points to reach 77,970.95, while the NSE Nifty 50 added 28 points, positioning itself at 24,343.65. This upward trajectory reflects a broader recovery in Asian markets and a favorable close for Wall Street during the prior session.
Bajaj Finance Drives Sectoral Rally
Financial stocks emerged as the primary engine for Friday's growth. Bajaj Finance recorded a significant jump of over 6% following the release of its June quarter results for FY27. The company posted a 28% year-on-year increase in consolidated profit after tax, reaching €6,081 crore. Analysts attribute this performance to strengthened asset quality and core income growth. Other notable gainers in the early session included Bajaj Finserv, Mahindra & Mahindra, Bharat Electronics, and Adani Ports.
Macroeconomic Indicators and FII Activity
The market mood was further bolstered by a decline in global energy costs, with Brent crude falling 0.98% to $88.16 per barrel. Currency markets also showed strength as the Indian Rupee appreciated by 20 paise, trading at 95.30 against the U.S. dollar. Exchange data confirms that Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities valued at €3,623.51 crore during Thursday's trading session.
Contrasting Sectoral Movements
Despite the gains in banking and logistics, the IT sector faced headwinds. Major technology firms, including Infosys, Tata Consultancy Services, and HCL Tech, experienced selling pressure as investors opted to lock in profits. This divergence prevented the Sensex from achieving a more aggressive breakout. Internationally, South Korea's KOSPI led regional gains with a 14.28% rebound, while Japan and Shanghai also traded in positive territory.
Key Facts
- BSE Sensex rose 49.91 points to 77,970.95 in early Friday trade.
- NSE Nifty advanced by 28 points to reach the 24,343.65 level.
- Bajaj Finance shares jumped over 6% following a €6,081 crore quarterly profit report.
- Foreign Institutional Investors injected €3,623.51 crore into the market on July 30, 2026.
- Brent crude prices dropped nearly 1% to settle at $88.16 per barrel.
Source: The Hindu — National
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