Benchmark indices closed higher on July 3, with the S&P BSE Sensex advancing 261.79 points or 0.34% to end at 77,763.91 and the NSE Nifty 50 gaining 95.15 points or 0.39% to close at 24,270.85. According to The Times of India, the Nifty 50 also ended the week nearly 1% higher, supported by positive global cues, easing crude oil prices, expectations of a softer global interest rate environment, and optimism following the India–Japan summit. The Sensex rallied as much as 0.85 points to an intraday high of 78,157.52, while the Nifty 50 touched the session's peak of 24,378.15. The broader market showed mixed performance with the NIFTY Midcap 100 closing 0.19% or 117.60 points lower at 62,190.30.
The Nifty Pharma index surged 2.01% to 25,818.85, rallying 2.52% in two consecutive trading sessions and significantly outperforming broader markets. As reported by The Economic Times, Max Healthcare Institute emerged as a top gainer, rising 2.19%, followed by Sun Pharmaceutical Industries (up 1.92%), Dr Reddy's Laboratories (up 1.87%), and Bajaj Finserv (up 1.85%). Other notable gainers included Aurobindo Pharma (up 4.06%), Ipca Laboratories (up 2.63%), Sun Pharmaceutical Industries (up 2.61%), Lupin (up 2.58%) and Piramal Pharma (up 2.56%). According to The Times of India, Dr. Reddys (₹1,374, up 28.40, 2.12%), Sun Pharma (₹1,905, up 33.80, 1.81%), and Apollo Hospital (₹8,894, up 198.00, 2.28%) were among the top gainers in the Nifty 50, with Bharti Airtel (₹1,910, up 35.40, 1.89%) and UltraTech Cement (₹11,723, up 187.00, 1.63%) also featuring prominently.
HCL Technologies emerged as the top performer, closing 5.74% higher after announcing a strategic partnership worth an estimated $1.14 billion with a Europe-headquartered Fortune Global 50 company. Under the agreement, HCLTech will establish an AI-driven operating model to transform and manage the client's global digital workplace and enterprise network operations. The Nifty IT index rallied around 3.6%, with other IT stocks also performing well including Infosys (up 4.39%), Mphasis (up 4.55%), Coforge Ltd. (up 4.54%), Persistent Systems (up 3.71%), and Tech Mahindra (up 2.28%). According to The Times of India, HCL Tech (₹1,139, up 60.90, 5.65%), Bharti Airtel (₹1,910, up 35.40, 1.89%), and Sun Pharma (₹1,905, up 33.80, 1.81%) were among the top gainers in the Sensex, while TCS (₹2,094, up 25.40, 1.23%) and Bajaj Finance (₹1,031, up 13.00, 1.28%) also featured prominently in the broader index.
The NIFTY Midcap 100 closed 0.19% lower at 62,190.30, dragged down by significant selling in key stocks. As reported by The Economic Times, Hitachi Energy India plunged 8.08%, GE Vernova T&D India fell 7.83%, PB Fintech declined 5.71%, Bharat Heavy Electricals dropped 4.62%, and Multi-Commodity Exchange of India fell 4.07%. On the positive side, Mahindra & Mahindra Financial Services surged 5.39%, National Aluminium Company gained 4.68%, Housing & Urban Development Corporation rose 4.05%, L&T Finance climbed 3.90%, and 360 ONE WAM advanced 3.74%. According to The Times of India, Axis Bank (₹1,342, down 20.50, -1.51%), State Bank of India (₹1,040, down 11.60, -1.11%), L&T (₹4,027, down 32.81, -0.81%), Tech Mahindra (₹1,410, down 11.21, -0.79%), and Bajaj Auto (₹9,786, down 71.50, -0.73%) were among the major losers in the Nifty 50, while Kotak Bank (₹396.75, down 2.56, -0.64%), NTPC (₹356.45, down 1.81, -0.51%), and Adani Ports SEZ (₹1,874, down 9.00, -0.48%) also featured prominently among the decliners.
According to The Economic Times, foreign portfolio investors (FPIs) sold shares worth ₹1,140.50 crore, while domestic institutional investors (DIIs) were net buyers to the tune of ₹3,159.24 crore in the Indian equity market on July 1, 2026. In the commodities market, Brent crude for September 2026 settlement added 58 cents or 0.81% to $72.38 a barrel, providing some support to energy-related stocks. As reported by Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, Brent crude remains low at below $73 thanks to the unrestricted passage of ships through the Strait of Hormuz, which he described as a big macro positive for India. The positive sentiment was further supported by global cues, easing crude oil prices, expectations of a softer global interest rate environment, and optimism following the India–Japan summit.
