South Korea’s Kospi index saw a significant jump, mirroring Wall Street’s positive performance. AI-related stocks experienced a strong rebound after recent declines earlier in the week. Japanese markets also climbed, with technology and investment firms showing gains. Oil prices increased due to ongoing tensions and a closed key shipping route. Major US indices closed higher on Thursday, indicating a positive market sentiment.
South Korea’s Kospi index jumps more than 16% on a surge of chipmaking stocks – Daily Market Update 31st July 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled sharply higher in range 1.19% to 2.79%.
- European equity markets, barring FTSE, ended higher.
- Asian equity markets are trading with a positive bias.
- GIFT Nifty is up by 50 points, Nifty futures is likely to open around 24420 levels.
The benchmark Nifty index ended higher at 24317 spot levels after adding 67 points to its previous closing values after a lackluster trading session.
The broader markets underperformed the benchmark as Mid and Small cap indices were down 0.35% & 0.56% respectively.
Performance on the sectoral front was largely mix and muted. Among them, Auto index was at the top of the tally, gained 1.63%. On the flip side, Nifty Realty and Chemicals were at the bottom of the tally, down 2.06% & 1.17% respectively.
The Nifty index has gradually reached its price resistance placed around the 24,350–24,400 spot zone. Despite the gradual rise, advance-declines were tilted towards the declines, showing a lack of participation or negative divergence. Going ahead, a decisive close above 24,400 could lead it towards 24,600 spot levels, which is also the upper band resistance of the past one-and-a-half-month-long consolidation range. Conversely, sustained trading below 24,100 spot levels could drag it back to 23,800 and lower levels in the near term.
Derivatives Overview & Outlook
Yesterday, long unwinding was seen in Midcapnifty futures with decrease in open interest by 1%, Banknifty and Finnifty added around 2% and 8% of open interest without significant change in price. On the other hand, no significant changes were observed in Nifty on price as well as on open interest front.
Performance on the sectoral front was mix. Amongst them, Capital Goods, Finance, Chemicals, and Infrastructure stocks witnessed maximum addition of short positions whereas some long buildup was seen among Metal, New-age and Oil & Gas stocks along with short covering among Auto stocks.
On options front, put addition along with some call unwinding was seen at multiple OTM strikes. Maximum positions are at 24600 CE closely followed by 24500 CE and 24000 PE followed by 24200 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 3624 Cr in the cash segment, bought index futures worth Rs 1300 Cr and sold stocks futures worth Rs 237 Cr. DIIs were net sellers in the cash segment to the tune of Rs 1864 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24500-24600; Supports 24200-24100
Banknifty – Resistances 57600-58000; Supports 56900-56600
Finnifty – Resistances 26480-26580; Supports 26200- 26100
F&O stocks in ban today: None
Important Results Today: ABCAPITAL, BAJAJFINSV, DIXON, GAIL, GLENMARK, IOC, ITC, MARUTI, NATIONALUM & SUNPHARMA.
Disclosure
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