The Indian stock market commenced trading on July 7, 2026, with significant upward momentum, as both the Sensex and Nifty indices registered gains in early deals. The positive opening was largely fueled by robust performance in IT sector stocks, alongside strong showings from companies like Eternal and State Bank of India (SBI).
Market Indices Climb Amid Positive Sentiment
The S&P BSE Sensex advanced by 102 points, reaching 78,387, while the NSE Nifty 50 climbed 37 points to settle at 24,469. This upward trend marked a continuation of positive activity, building on the previous session's close where the Sensex had gained 521.16 points and the Nifty 159.50 points.
Top Performers and Market Drivers
Among the Sensex constituents, Eternal, Infosys, SBI, Titan, HDFC Bank, HCL Technologies, and TCS emerged as the day's top gainers, with some stocks rising up to 1.18%. A key factor contributing to the market's bullish start was the sustained trading of crude oil prices below $70 per barrel, easing previous concerns about inflation and economic stability.
- Eternal: Led the charge among individual stocks.
- IT Shares (Infosys, HCL Tech, TCS): Demonstrated sector-wide strength.
- SBI, HDFC Bank: Key banking sector players contributing to gains.
- Titan: Showed positive movement in the consumer discretionary space.
Analyst Insights Point to Sustained Uptrend
Market strategists offered optimistic outlooks on the current market conditions. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted a distinct uptrend, noting that two previous headwinds—rising crude prices and sustained Foreign Portfolio Investor (FPI) selling—have now reversed. "Crude is back to pre-war levels, and FPIs have turned buyers," Vijayakumar stated, emphasizing this shift as a significant, fundamentally supported development.
Shrikant Chouhan, Head Equity Research at Kotak Securities, provided technical guidance for traders. He identified 24,350/78,000 as a crucial support zone for Nifty and Sensex, respectively. As long as indices remain above these levels, a positive bias is expected to continue, with Nifty potentially advancing towards 24,500–24,600 and Sensex towards 78,500–78,800. Chouhan advised day traders to consider accumulating long positions in the 24,350–24,250 range, with a stop-loss below 24,200.
Losers of the Day
Conversely, some stocks experienced declines. Trent, IndiGo, Tata Steel, and BEL were among the top Sensex losers, with Trent shares notably slipping by 10% following Q1 business updates that fell short of analyst expectations, as reported by Motilal Oswal.
"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." — VK Vijayakumar, Chief Investment Strategist, Geojit Investments.