Stock Market LIVE Updates, Sensex Today: Markets Likely To Open In Green As Trump Halts Iran Strikes

Rajesh Palviya, Head of Research, Axis DirectThe Nifty 50 extended its upward momentum for a third consecutive session on Friday, closing 66.45 points higher at 24,383.60, up 0.27%, while registering its strongest weekly performance since April. The rally was led by robust June-quarter earnings from Bajaj Finance, Bajaj Finserv, and Mahindra & Mahindra, which propelled the financial and auto sectors higher, more than offsetting profit booking in IT and FMCG stocks.Global markets offered a mixed backdrop. Wall Street ended July on a positive note, with the Nasdaq advancing 1.0% and the S&P 500 gaining 0.7%, supported by a sharp rally in Amazon following strong cloud revenue growth. However, a steep decline in Apple limited gains in the Dow Jones, reflecting selective investor positioning.Asian markets have opened on a softer note after Friday's semiconductor-driven rally, suggesting a cautious start for regional equities. On the positive side, Brent crude has corrected nearly 4.5% to around $84 per barrel as concerns over supply disruptions through the Strait of Hormuz eased. The decline in oil prices is a constructive development for India, as it helps ease inflationary pressures, supports the rupee, and improves the macro outlook. Meanwhile, GIFT Nifty was indicating a mildly positive opening around the 24,565 mark.Technically, the market continues to maintain a positive bias as long as the Nifty sustains above the 24,250 support zone. A decisive break below this level could trigger a pullback towards 24,100. On the upside, immediate resistance is placed near 24,550, followed by the 200-day moving average around 24,780. While subdued Asian cues may limit near-term gains, continued softness in crude oil prices remains a key supportive factor that could help the index gradually move towards the higher end of its trading range.