NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on July 31

The Indian equity benchmarks are set to stage a gap up opening on Friday, July 31, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Gandhinagar advanced 62 points to 24,420 amid mixed cues from Asian markets.

The Indian stock market ended higher on Thursday, July 30, after a largely range-bound session, supported by gains in IT and auto stocks and foreign fund inflows. The investors, however, remained watchful about the elevated crude oil prices.

At close, the S&P BSE SENSEX stood at the 77,928.15 level, up 273.55 points, or 0.035%, while the NSE NIFTY50 rose 66.95 points, or 0.28%, to settle at 24,317.15.

Asian markets

Asian markets were trading sharply higher following a strong rally in the US markets after Microsoft posted strong results indicating that its big spending on AI is translating into profits. The rally in Microsoft revived buying interest in other chipmakers that sent South Korea's KOSPI 14% higher. Japan's Nikkei surged 4%, China's Shanghai Composite index advanced 0.6% and Hong Kong's Hang Seng declined 0.2%.

Wall Street update

Rally in Microsoft shares led a rebound on Wall Street on Thursday after it reported stronger than anticipated earnings. The company said growth was strong for its Azure cloud business, and CEO Satya Nadella said it reflects how customers are using Microsoft to move into AI.

S&P 500 index gained 1.66%, Dow Jones Industrial Average 1.19% and tech heavy Nasdaq surged 2.8%.

FII/DII activity

Foreign institutional investors (FIIs) bought shares worth ₹3,623.51 crore on Thursday while domestic institutional investors sold stocks worth ₹1,864 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹2,58,860 crore, data from National Securities Depository Limited (NSDL) showed.

Stocks to watch

During the reporting quarter, Swiggy's revenue from operations increased 37.31% to ₹6,812 crore, from ₹4,961 crore a year ago.

In a letter to shareholders, Swiggy Co-founder, MD and Group CEO Sriharsha Majety said the firm's quick commerce business, Instamart, hit break-even contribution target in May 2026 with an overall contribution for the quarter at -0.2% of gross order value (GOV), while Adjusted EBITDA losses for the segment narrowed to ₹778 crore.

Total income advanced to ₹61,026.97 crore in the quarter under review, up from ₹53,466.79 crore in the same quarter a year ago.

Revenue from operations stood at ₹4,921 crore vs ₹3,178 crore in the corresponding quarter a year ago.

It had posted a net profit of ₹452.2 crore during the April-June period of 2025-26.

The company's revenue from operations during the first quarter of FY27 rose 12.1% to ₹2,942.7 crore, against ₹2,625.6 crore in the year-ago period.

The total income slipped to ₹7,066 crore during the latest June quarter compared to ₹7,233 crore in the same period a year ago.

The company's interest income also declined to ₹7,024 crore from ₹7,113 crore in the June quarter of the previous fiscal.

Total income rose to ₹20,116.91 crore in Q1 FY27 from ₹17,264.74 crore in the same period of the preceding year.

"We have delivered yet another quarter of strong financial performance, with broad-based growth and robust profitability, reflecting the continued execution of our strategy to build a large, trusted Food FMCG platform," Shrikant Kanhere, MD & CEO, AWL Agri Business, said.

Trade setup

The NIFTY50’s hourly chart shows sustained momentum as the index closed above the hourly 20 and 50 EMA for the second consecutive day. Additionally, the index also managed to defend the crucial support level of 24,300 on the daily charts, suggesting renewed bullish momentum in the index.

On the long-term charts, a monthly closing above the 24,000 psychological benchmark remains a pivotal milestone to cross for NIFTY50. Going forward, the 24,000-24,100 zone remains a crucial support zone for NIFTY50, with 24,500 as major resistance.

The open interest data for the coming weekly expiry indicates a strong OI buildup on the downside near 24,000 to 24,200 puts. The 24,000 puts hold the highest open interest, indicating strong support for NIFTY50 on the downside. Similarly, 24,600 calls hold the highest open interest, indicating near-term resistance for NIFTY50 on Friday.