Share Market Highlights 31 July 2024: Sensex closes at 81,741 with 286-point gain; Nifty 50 up 94 points

Sensex, Nifty updates on 31 July 2024: Indian benchmark indices, Sensex and Nifty, edged higher on Wednesday, led by gains in metal stocks, as the market’s focus shifted to the Federal Reserve’s rate decision and commentary on monetary policy. The NSE Nifty 50 rose 0.38% to 24,951.15 points, while the S&P BSE Sensex added 0.35% to 81,741.34. Despite facing resistance near the 25,000 mark, the Nifty remained stable due to buying interest from domestic institutional and retail investors. The metals index increased by 1.2%, aided by a softer U.S. dollar. The pharma index gained 1.1%, driven by Zydus Lifesciences’ 2.5% rise. IT companies rose 0.2% ahead of the Fed’s policy decision. GAIL surged 3.1% to an all-time high following a strong quarterly profit. Torrent Power jumped 16.6% on rising first-quarter profits, boosting the mid-cap index. Zee Entertainment Enterprises climbed 2.4% after reporting a quarterly profit. Maruti Suzuki also gained about 2% after exceeding profit estimates.