Indian equity benchmark indices opened on a positive note on Friday, July 31, with buying interest visible in automobile, media, metal and pharmaceutical stocks amid supportive global market cues.

In early trade, the BSE Sensex was up around 50 points, trading near 78,050, while the NSE Nifty 50 gained about 30 points to trade around 24,350.

The broader market sentiment remained positive as investors tracked strong overnight gains on Wall Street and mixed-to-positive trends across Asian markets.

Sectoral Buying Supports Market

Early trading witnessed buying across several key sectors, including automobiles, metals, pharmaceuticals and media, helping benchmark indices remain in positive territory.

Market participants are also keeping a close watch on corporate earnings, global trade developments and foreign institutional investment trends for further direction.

Asian Markets Show Mixed Performance

Major Asian markets traded with mixed momentum on Friday.

Japan's Nikkei advanced sharply, while South Korea's Kospi also traded higher. Hong Kong's Hang Seng Index slipped marginally during the session.

The positive sentiment across most Asian markets provided support to domestic equities despite cautious global cues.

Wall Street Ends Higher

US markets closed firmly in the green on July 30, boosting investor confidence globally.

The Dow Jones Industrial Average gained 614 points (1.19%), while the Nasdaq Composite surged 679 points (2.78%). The S&P 500 also climbed 121 points (1.66%), supported by strength in technology stocks and improving investor sentiment.

Foreign Investors Return as Buyers

Foreign Institutional Investors (FIIs) remained net buyers in the Indian equity market.

Latest exchange data showed FIIs purchased shares worth approximately ₹3,624 crore during the previous trading session. Over the past seven trading days, foreign investors have made net purchases of around ₹5,673 crore.

Domestic Institutional Investors (DIIs), however, were net sellers during the latest session, though they continue to remain significant net buyers over the past month.

Previous Session Ends in Green

On July 30, benchmark indices had also settled with gains.

The Sensex rose 274 points to close at 77,928, while the Nifty 50 advanced 67 points to end the session at 24,317, extending the market's positive momentum ahead of the final trading day of the month.

Investors Eye Global and Domestic Triggers

Market analysts expect volatility to continue as investors assess quarterly earnings, global economic developments, foreign fund flows and policy-related announcements. The movement of global equity markets and institutional investment activity is likely to remain the key driver for Indian equities in the near term.