
Indian markets ended higher for the third consecutive session on Friday (July 3), with the Sensex gaining 261.79 points to close at 77,763.91 and the Nifty 50 rising 95.15 points to settle at 24,270.85, ending above the 24,250 mark. According to The Hindu, during the day, the Sensex jumped 655.4 points, or 0.84%, to 78,157.52, demonstrating strong intraday momentum. The benchmark indices outperformed the broader markets as gains in information technology, healthcare and metal stocks offset weakness in PSU banks and select financial shares. This recovery comes after the Nifty had ended Monday at 23,865.75 and the Sensex closed at 76,478.67 in a volatile session marked by monthly derivatives expiry. Bharti Airtel (up 1.81%), ICICI Bank (up 0.70%) and HDFC Bank (up 0.70%) boosted the Nifty during the session, though profit booking in the second half trimmed some of the intraday gains. After a firm start, the benchmarks extended their gains as the session progressed, with the Nifty 50 climbing to an intraday high of 24,378.15, though broader markets lagged with the BSE 150 MidCap Index falling 0.25% and the BSE 250 SmallCap Index rising 0.09%. Market breadth remained positive with 2,257 shares rising and 1,986 shares falling on the BSE, while 202 shares remained unchanged, indicating broad-based participation across the market.
Information technology stocks emerged as the top sectoral gainers after HCL Technologies jumped 5.79% following the announcement of a major AI-driven digital transformation deal with a Europe headquartered, Fortune Global 50 Firm to transform their global digital workplace and enterprise networks using Artificial Intelligence (AI). As per The Hindu, Tech Mahindra climbed 1.81% and other notable gainers included Bharti Airtel, Sun Pharma, Bajaj Finserv, UltraTech Cement, Tata Steel, Bajaj Finance, Tata Consultancy Services, and ICICI Bank. The Nifty Realty, IT and Pharma indices outperformed during the session, with Max Health, Apollo Hospitals and Bajaj Finserv among the leading gainers on the Nifty, helping benchmark indices remain in positive territory despite weakness elsewhere. For the week, the BSE Sensex and Nifty added nearly 1% each, demonstrating sustained momentum across the market. Other notable gainers included Sumitomo Chemical India (up 13.55%), Bluspring Enterprises (up 3.89%), Zydus Lifesciences (up 3.92%), PC Jeweller (up 4.06%) and Marathon Nextgen Realty (up 2.77%).
Nifty Realty index closed up 2.19% at 890.80, gaining 17.00% over the last one month, as per Business Standard. The sector's strong performance was led by Lodha Developers Ltd adding 5.05%, Oberoi Realty Ltd gaining 3.74% and Anant Raj Ltd rising 3.17%. However, the Nifty Realty index has fallen 8.00% over the last one year compared to the 4.47% slide in benchmark Nifty 50 index. Other sectoral indices also performed well, with Nifty IT index gaining 1.76% and Nifty Pharma index adding 1.72% on the day. The Nifty 50 recorded a gain of 0.39% to close at 24,270.85 while the SENSEX recorded a gain of 0.34% to close at 77,763.91.
Vinod Nair, Head of Research at Geojit Investments Ltd, noted that domestic markets closed higher despite intermittent volatility and profit-booking, aided by supportive global cues and growing expectations of a more accommodative global rate environment following softer U.S. labour market data. According to Nair, sentiment was further lifted by positive outcomes from the India-Japan Summit and continued recovery in the IT sector. Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the Nifty has formed a small bullish candle on the daily chart, while intraday charts indicate a reversal formation, suggesting that bullish momentum remains intact above key support levels. The 23,900 level will act as a crucial support for the Nifty, as long as this level holds, the market is likely to sustain its positive momentum. He expects the Nifty to move towards the 24,150-24,250 zone on the upside, though warned that a break below 23,900 could trigger fresh selling pressure. The NSE's India VIX dropped 3.98% to 11.80, indicating reduced market volatility expectations. Overnight, Wall Street ended mixed with the Dow Jones Industrial Average climbing 1.14% to a record closing high of 52,900.07 after weaker-than-expected US jobs data strengthened expectations of a Federal Reserve interest rate cut.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹311.82 crore on Thursday, according to exchange data, as reported by The Hindu. The FIIs have maintained consistent selling pressure throughout recent months, with ₹49,028.63 crore in sales for June following cash sales of ₹55,963.33 crore in May, ₹70,135.46 crore in April, and ₹122,540.41 crore in March. However, strong domestic liquidity continues to outweigh FII selling, highlighting the resilience of Indian equities and the growing influence of domestic investors. Market breadth remained positive with 2,257 shares rising and 1,986 shares falling on the BSE, while 202 shares remained unchanged, indicating broad-based participation across the market. In the foreign exchange market, the rupee edged higher against the dollar with the partially convertible rupee hovering at 95.1800 compared with its close of 95.3550 during the previous trading session. Brent crude, the global oil benchmark, went up 0.24% to $71.97 per barrel, with softening crude oil prices remaining a key macro tailwind supporting the inflation outlook.