Indian equities edged higher on Thursday, 30 July 2026, with Nifty 50 rising 0.28% to 24,317.15 and Sensex advancing 0.35% to 77,928.15. As per latest reports, the IT sector extended its July rally to 18.6% - the sector's best monthly performance in six years - benefiting from global AI-driven trends. Auto shares climbed 1.6%, driven by Mahindra & Mahindra's 2% rise and Balkrishna Industries' sharp 10.8% surge post-results. However, broader indices underperformed with small-caps down 0.6% and mid-caps slipping 0.4%. According to market analysis, the swift advance from near 23,500 towards 24,300 has been quite overwhelming, with the current breakout displaying a reaction to buy into the market.
Market expert Raja Venkatraman from NeoTrader has updated his stock recommendations for 31 July, replacing his previous picks with three new recommendations. His latest recommendations include LT Foods Ltd (Buy above ₹399, Stop ₹383, Target ₹440), Syrma SGS Technology Ltd (Buy above ₹1,380, Stop ₹1,310, Target ₹1,525), and RBL Bank Ltd (Buy above ₹380, Stop ₹360, Target ₹425). LT Foods is recommended as a leading global consumer food company specializing in specialty rice and organic foods, while Syrma SGS Technology is positioned as an Indian engineering company providing electronics manufacturing services. RBL Bank represents a private sector bank that has been performing well after profit booking, reaching key technical levels before demonstrating a spirited rise.
According to the latest technical analysis, the recommendations include specific buy levels and target prices spanning two-month periods. LT Foods shows support at ₹350 with resistance at ₹450, while Syrma SGS Technology demonstrates support at ₹1,250 and resistance at ₹1,600. RBL Bank presents support at ₹350 and resistance at ₹450. Venkatraman notes that the current scenario shows a reinstated bullish bias that continues to advance towards the 24,800 zone, with the market offering many opportunities to get on the train after the strong move from the June lows. The analysis suggests that with reasonably appealing macro numbers, the government's focus on developing India into a powerful nation is generating positive vibes across the board, supporting the continued bullish bias.
As reported by latest market data, 11 of 16 sectors advanced on Thursday, reflecting selective strength amid global rate and commodity headwinds. Brent crude hovered near $91 per barrel after a sharp prior-day jump, keeping traders cautious. Sun Pharma hit a record high after Brazil approved its semaglutide injection, while Dabur India fell 1.8% on concerns over muted growth. The current market setup shows a dip buy mode with the gap region around 24,050 serving as revised support for potential bullish reaction. Market analysts maintain that the dip remains a buy opportunity, with the last two sessions observing that dips that emerge are buying interest on dip fuelled a strong surge. The overall positive setup across the board signals that markets are reacting to string of positive developments on the economic front.
According to the latest analysis, Bank Nifty has been weaker compared to Nifty, with sustained bearish pressure indicating downward bias as trends struggle to head higher. The inability of Bank Nifty to clear the 59,000 mark seems limited in this curtailed week, with PSU Banks and Private banks working slowly and erratic vibes from the private sector making it difficult for Bank Nifty to recover. This in turn will spill over to other sectors like Auto, Realty and Finance. HDFC Bank has been under great stress post its Q1 numbers, showing on Bank Nifty as well. The rise witnessed in Bank Nifty is seen struggling as the attempt to hold on is seen fizzling out as bearish pressure is emerging at higher levels. Currently, due to lack of triggers, we are witnessing ranging action that could keep the trends from recovering swiftly. As per the latest analysis, till Bank Nifty exceeds 59,000, this index holds the key for some trends to emerge, with the current scenario showing some hesitation ahead of the event and not much inclination seen to move higher.
