The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a positive note on Friday, with Gift Nifty trading at 24,115 level, signaling a gain of 100 points for Nifty at open. This follows Monday's positive session where the market ended higher for the fourth consecutive session, with the Sensex jumping 521.16 points, or 0.67%, to close at 78,285.07, while the Nifty 50 settled 159.50 points, or 0.66%, higher at 24,430.35. As per Enrich Money, Gift Nifty was trading around 24,537 level, a premium of nearly 54 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices. The positive opening comes amid broad-based buying amid improving monsoon prospects, renewed FII inflows, easing geopolitical concerns, and softer crude oil prices. The gains may also be aided by lower crude oil prices, with Brent crude holding near $72 a barrel, faster progress in monsoon rains and early signs that foreign portfolio investors (FPIs) were turning buyers after a prolonged selling streak.
In early trade on Tuesday (July 7, 2026), the 30-share BSE Sensex advanced 176 points to 78,461.16, while the 50-share NSE Nifty went up by 34.1 points to 24,464.45. From the Sensex pack, Titan, Infosys, Eternal, Tech Mahindra, HCL Tech and Tata Consultancy Services were among the major winners, according to The Hindu. However, Trent tumbled 9.8%, while Larsen & Toubro, Bharat Electronics, ITC and Tata Steel were also among the laggards. The positive momentum builds on Monday's strong performance where the market ended higher for the fourth consecutive session, as investor risk appetite improved amid the revival of the monsoon and FIIs buying activity. As reported by Moneycontrol, after a positive opening, the benchmarks extended their gains through the session, with strong buying in the final hour helping the indices recover and close near the day's high.
US stock markets ended higher on Monday (July 6, 2026), with the Dow Jones Industrial Average closing above the 53,000 level for the first time, while the S&P 500 and Nasdaq Composite also finished higher. As reported by Enrich Money, the Dow Jones rose 0.29% to 53,055.91, while the S&P 500 gained 0.72% to end the session at 7,537.43. The Nasdaq closed 1.12% higher at 26,121.16. Investor sentiment improved as technology and semiconductor stocks rebounded sharply, led by Broadcom after the company extended a long-term chip supply agreement with Apple. However, Asian markets traded lower on Tuesday as semiconductor-related heavyweights declined. Japan's Nikkei 225 fell 1.08%, while the Topix declined 0.18%. South Korea's Kospi slumped 7%, while the Kosdaq dropped 1.98%. Hong Kong's Hang Seng index eased 0.095%. Europe's benchmark STOXX 600 index pulled back after hitting a record high on profit booking, slipping 0.35% to 650.5 points, though Germany's DAX index rose 0.15% to a record high, notching up its fifth straight session of gains.
Sensex rose 0.87% last week, forming a bullish candle on weekly charts, and is also holding a higher bottom formation, according to technical analysts. As reported by Livemint, Shrikant Chouhan from Kotak Securities expects 78,000 to be a crucial level for day traders, with positive momentum likely to continue as long as Sensex trades above this level. He projects potential upside targets of 78,500 - 78,800 on the higher side, while a break below 78,000 could trigger a quick intraday correction towards 77,500 - 77,300 levels. Nifty 50 formed a strong bullish candlestick pattern on the daily timeframe, closing just above the crucial hurdle of 200-day EMA around 24,421, as noted by HDFC Securities. Ajit Mishra, Senior Vice President, Research at Religare Broking, says the Nifty 50 has further strengthened its bullish structure by surpassing the crucial hurdle of the 200-day EMA around the 24,421 mark. He identifies 24,600 level as the next upside target above 24,500 levels, with immediate support at 24,150 level. Mayank Jain from Share.Market by PhonePe identifies technical support at 23,850 – 23,950 levels and resistance at 24,500 – 24,600 zone. Options data suggests a broader trading range between 23,800 to 24,800 zones, with immediate range between 24,000 to 24,500 levels.
Foreign Institutional Investors (FIIs) bought equities worth ₹243.03 crore on Monday (July 6, 2026), according to exchange data, as reported by The Hindu. Domestic Institutional Investors (DIIs) also remained supportive of the market, turning net buyers with equity purchases worth ₹3,791 crore, as reported by Moneycontrol. This shift in institutional flows comes after the market's strong performance over the past three sessions, with the Nifty 50 finishing above 24,250 supported by broad-based buying across sectors. The FIIs have sold shares worth ₹96.99 crore so far in July (till 03 July 2026), following their cash sales of ₹49,028.63 crore in June, ₹55,963.33 crore in May and ₹70,135.46 crore in April. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that "There are distinct signs of an uptrend in the market. Two factors which were weighing on Indian markets - the crude price hike and sustained FPI selling- are now behind us and has reversed. Crude is back to the pre-war level and FPIs have turned buyers." He added that the FPI buying is not yet a strong trend, but the fact that they have stopped selling and turned buyers is a significant shift, which is likely to sustain supported by fundamentals.
India VIX declined sharply by 8.97% to 13.36, indicating easing volatility, according to derivatives analysts. Dhupesh Dhameja from SAMCO Securities noted that with the put-call ratio inching closer to 1.5, some near-term profit booking cannot be ruled out after the recent rally. Option chain data shows maximum Put Open Interest at the 23,500 strike, followed by 23,600, reinforcing the immediate support zone, whereas maximum Call Open Interest is concentrated at the 24,500 strike, followed by 24,200, highlighting aggressive supply at higher levels. As per The Hindu BusinessLine, as long as the index holds above 24,250, the broader outlook remains constructive, and any corrective dip should be viewed as a buy-on-dips opportunity, with a sustained move likely to pave the way towards 24,600-24,800. Sachin Gupta from Choice Broking added that crude oil prices continue to consolidate in the $68–69 per barrel range, offering a favourable backdrop for India's macroeconomic outlook by helping contain inflationary pressures and supporting external balances.
