The GIFT Nifty July 3, 2026 futures are currently trading 151 points higher at 24,416, indicating a positive opening for benchmark indices today. As per Livemint, GIFT Nifty was trading around 24,410.5 level, a premium of nearly 151 points from the Nifty futures' previous close of 24,265, suggesting the Nifty 50 could open above Wednesday's closing level of 24,175.70. This positive momentum comes as Indian benchmark indices are poised for a gap-up opening on July 3, taking cues from GIFT Nifty, with the firm trend in GIFT Nifty suggesting Indian benchmark indices are likely to see a flat-to-positive start today. The recovery follows Indian benchmark indices ended higher on Thursday, with the Sensex surging 579.48 points, or 0.75%, to close at 77,502.12, while the Nifty 50 settled 169.85 points, or 0.71%, higher at 24,175.70, marking a significant recovery from Monday's decline.
US markets provided positive cues with the Dow Jones Industrial Average rising more than 1% to a record closing high of 52,900.07 on Thursday, ahead of the long holiday weekend. As per Moneycontrol, the Dow gained 594.83 points, or 1.14%, while the S&P 500 remained flat at 7,483.24. However, the Nasdaq Composite declined 207.36 points, or 0.80%, to 25,832.67 as another sharp drop in chipmaker stocks weighed on the index. Wall Street ended mixed overnight after softer-than-expected US jobs data reduced concerns over another near-term Federal Reserve rate hike. Apple surged 4.8 percent after reports that it plans to launch five new iPhone models, while semiconductor stocks remained under pressure, with the Philadelphia Semiconductor Index falling 5.4 percent for a second consecutive session. Nvidia slipped 1.4 percent, while SanDisk plunged more than 14 percent. The US market will remain closed on Friday for the Independence Day holiday, with US equity futures modestly higher, advancing about 0.1 percent.
Crude oil prices declined for a second straight session on Thursday as talks between United States and Iran progressed, easing concerns about potential disruptions to crude supplies in the Middle East. According to The Hindu BusinessLine, Brent crude futures dropped as much as 2% to $70, following the positive progress in indirect talks between Iran and the U.S. that concluded on Wednesday in Doha. The next meeting will take place after funeral processions for Iran's late Supreme Leader Ayatollah Ali Khamenei, who is due to be buried on July 9, as per Qatar's Foreign Ministry. Signs of progress in peace talks pushed oil prices lower, which is positive for India, as it imports the bulk of its oil requirements. Oil prices edged higher but remained near multi-month lows as optimism over progress in US-Iran negotiations continued to ease concerns about global supply disruptions. Brent crude rose around 0.2 percent to trade near $72.1 per barrel, while US West Texas Intermediate was around $68.8 per barrel. This sustained softness in energy prices supports India's macroeconomic outlook by easing external sector pressures, moderating inflation risks and reinforcing overall investor sentiment.
Domestic equity benchmarks Sensex advanced 579.48 points, or 0.75%, to close at 77,502.12, while Nifty 50 climbed 169.85 points, or 0.71%, to settle at 24,175.70 on Thursday, marking a significant recovery from Monday's decline. As reported by Livemint, the Sensex surged 579.48 points, or 0.75%, to close at 77,502.12, while the Nifty 50 settled 169.85 points, or 0.71%, higher at 24,175.70. The retreat on Monday was attributed to concerns over a weak monsoon that blunted relief from easing Middle East tensions and lower crude prices, with selling pressure led by auto, IT, oil & gas, and banking stocks. However, the Sensex surged as much as 656 points and Nifty 50 index touched an intraday high of 24,195 led by gains in Infosys, Tata Consultancy Services, ICICI Bank, HCL Technologies, Tech Mahindra and Mahindra & Mahindra. The recovery was powered by a rally in information technology shares as value buying emerged in IT shares after a recent selloff, with defensive sectors such as pharma and healthcare outperforming, supported by their inelastic demand profile and earnings visibility. The Nifty formed a strong bullish candlestick pattern on the daily timeframe, indicating continued buying interest and strengthening market sentiment. Indian benchmark indices closed higher for a second consecutive session on July 2, driven by broad-based buying across most sectors.
On July 2, Foreign Institutional Investors (FIIs) remained net sellers for the fourth consecutive session, offloading equities worth ₹311 crore, while Domestic Institutional Investors (DIIs) extended their buying streak to eight consecutive sessions, purchasing shares worth ₹1,784 crore in equities. As per Moneycontrol, FIIs have so far this year sold shares worth ₹2,75,913 crore, data from National Securities Depository Limited (NSDL) showed, following their cash sales of ₹55,963.33 crore in May, ₹70,135.46 crore in April and ₹1,22,540.41 crore in March. This divergent flow pattern reflects contrasting sentiment between foreign and domestic investors, with the FIIs' selling pressure continuing to weigh on market sentiment despite the positive domestic institutional support. The rally was further supported by strength in the broader markets, with smallcap index outperforming, indicating broad-based buying across market segments. Market experts note that the Nifty 50 has reclaimed its medium-term moving average, the 100-day EMA, around the 24,130 zone, indicating an improvement in the overall bullish tone. From a technical perspective, the Nifty has maintained its constructive structure after reclaiming the 24,000 mark, with immediate resistance in the 24,200-24,250 zone and downside support at 24,000 followed by 23,900-23,800.
