Market Commentary (closing) for 30th July 2026 by Bajaj Broking Ltd
Market Closing Commentary
Indian benchmark indices opened on a flat note and traded in a choppy, volatile range throughout the session amid the monthly Sensex expiry. Despite the continued rise in crude oil prices, investor sentiment improved in the second half of the session as buying momentum strengthened in the benchmark indices. Sustained gains in auto stocks helped the market recover from intraday volatility, enabling the indices to close firmly in positive territory.
At close, the Nifty 50 gained 0.28% to settle at 24,317, while the Sensex advanced 0.35% to close at 77,928. On the sectoral front, Nifty Auto and Oil & Gas emerged as the top-performing sectors, supported by strong buying interest throughout the session. On the other hand, Nifty Realty and Chemicals remained the key laggards, witnessing selective profit booking and underperforming the broader market.
The broader market underperformed the benchmark indices. The Nifty Midcap 100 index declined 0.35%, while the Nifty Smallcap 100 index fell 0.56%, reflecting mild profit booking across the broader market despite the resilience in large-cap stocks.
Nifty Outlook
Nifty traded in a range with positive bias and closed around the 24,300 levels on Thursday session. Index formed a bullish candle with a higher high and higher low. signaling positive bias and continuation of the up move. The index in the process closed above the last week high highlighting strength. Going ahead, bias remain positive as index continues to form higher high and higher low in daily chart and we expect the index to maintain positive bias and head towards 24,370 and 24,480 in the coming sessions. Wednesday gap area of (24041-24136) is likely to act as immediate support.
From short term perspective, index to head towards the key resistance area of 24,500-24,600 levels being the confluence of the current month high and the high of April 2026. On the downside support is revised higher towards 23,800-24,000 levels being the confluence of the 20 and 50 days EMA and the bullish gap area of Monday.
Bank Nifty Outlook
Bank Nifty formed a second consecutive high wave candle with a lower high and a lower low signaling consolidation amid stock specific action around the 57,000 levels. Bank Nifty in the last 6 weeks is seen consolidating in the range of 56,500-58,700. Within the consolidation immediate hurdle is placed at 57,500 levels.
Bank Nifty formed a second consecutive high wave candle with a lower high and a lower low signaling consolidation amid stock specific action around the 57,000 levels. Bank Nifty in the last 6 weeks is seen consolidating in the range of 56,500-58,700. Within the consolidation immediate hurdle is placed at 57,500 levels.
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