Indian equity markets commenced trading on Thursday, July 2, 2026, with a positive momentum, as both the benchmark Sensex and Nifty indices recorded early gains. The 30-share BSE Sensex advanced by 57 points to reach 77,279, while the broader NSE Nifty50 climbed 110 points to hit 24,116 in early morning deals.
Leading the surge were prominent information technology (IT) sector stocks. Infosys, HCL Tech, TCS, and Tech Mahindra emerged as the top gainers among Sensex constituents, with their share prices rising by up to 4.24%.
Market Drivers and Global Cues
The upward trend in the Indian stock market was partly bolstered by a drop in global crude oil prices. Prices fell below $71 per barrel following reports that Qatar indicated “positive progress” in indirect talks between Iran and the United States, which concluded on Wednesday. This development eased concerns about global energy supply, contributing to improved market sentiment.
Conversely, some blue-chip stocks experienced declines. Top losers on the Sensex included NTPC, ICICI Bank, Bajaj Finance, PowerGrid, and L&T, with shares falling by up to 1.22%.
Analyst Insights on Market Outlook
Market experts weighed in on the performance and future trajectory of Indian equities. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted, “Whether India’s outperformance will continue or not will be determined to a large extent by the progress of the monsoon, which continues to be unsatisfactory.” He added that strength in the banking sector and digital platform companies is likely to persist, driven by expectations of robust Q1 earnings.
Shrikant Chouhan, Head Equity Research at Kotak Securities, provided technical analysis for the indices. He suggested that on the upside, the Nifty could advance towards the 24,150–24,250 range, and the Sensex towards 77,500–77,800. “Conversely, if the market slips below 23,900/76,500, selling pressure may intensify. In that scenario, the indices could retest 23,800/76,200, followed by the 20-day SMA near 23,750/76,000,” Chouhan explained. He highlighted that the market has found support in the 23,800–23,900 zone, and if this holds, a pullback towards the upper boundary of 24,200–24,300 is probable.
Previous Session's Close
In the preceding trading session, the 30-share BSE Sensex pack had advanced 443.97 points, or 0.58%, to close at 76,922.64. The NSE Nifty50 index also saw gains, rising 140.10 points, or 0.59%, to settle at 24,005.85.