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Sensex, Nifty magnify opening gains amid fall in crude oil prices
Jul-02-2026

Indian equity benchmarks made a positive start on Thursday amid fall in crude oil prices after reports of progress in discussions between the U.S. and Iran in Doha. Sensex and Nifty soon extended their gains and were trading notably higher with gains of over half a percent each in early deals. Bargain hunting in IT stocks, after previous session’s sell-off, also helped markets to gain momentum. Traders took note of Crisil Ratings’ statement that microfinance institutions' (MFIs) assets under management growth is set to accelerate to 20 per cent in FY27 after a tepid 4 per cent increase in the past fiscal. On the sectora front, cement stocks were in focus as India Ratings and Research (Ind-Ra) said that profitability of Indian cement manufacturers is likely to come under pressure in the first quarter of FY27 on account of a sharp increase in fuel, freight and other input costs, besides product price hikes by industry players.

On the global front, Asian markets were trading mixed following weakness on Wall Street overnight as a fresh global selloff in artificial intelligence (AI) shares raised concerns over AI infrastructure spending.

The BSE Sensex is currently trading at 77415.95, up by 493.31 points or 0.64% after trading in a range of 77063.95 and 77449.25. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 3.71%, TECK up by 1.87%, Metal up by 1.00%, Oil & Gas up by 0.85% and Basic Materials up by 0.70%, while Capital Goods down by 1.28%, Power down by 1.25%, Telecom down by 1.07%, Industrials down by 0.75% and Utilities down by 0.46% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 4.97%, HCL Technologies up by 3.90%, TCS up by 3.17%, Tech Mahindra up by 3.00% and Bajaj Finserv up by 1.41%. On the flip side, Larsen & Toubro down by 0.97%, Bharti Airtel down by 0.82%, Power Grid down by 0.76%, NTPC down by 0.75% and Bharat Electronics down by 0.56% were the top losers.

Meanwhile, with an aim to deepen the India-France strategic partnership, strengthen economic cooperation, and promote investment, Finance Minister Nirmala Sitharaman is on a four-day official visit to France, where she will participate in a series of high-level engagements. A key highlight of the visit will be the India-France Economic and Financial Dialogue (EFD) in Aix-en-Provence, which she will co-chair alongside France’s Minister for the Economy, Finance and Industrial and Energy Sovereignty, Roland Lescure. During the dialogue, both countries are likely to explore opportunities for expanding bilateral cooperation across various sectors and further strengthening economic ties between India and France.

As part of visit, Sitharaman will hold one-on-one meetings with select global chief executive officers and participate in a roundtable discussion with leading business executives. These engagements will provide an opportunity to showcase India’s strong macroeconomic fundamentals, ongoing structural reforms, expanding investment opportunities, and long-term growth potential. The Finance Minister will also participate in a panel discussion titled “How to Promote the Growth of a New Middle Class” at Les Rencontres Economiques d’Aix-en-Provence, one of Europe’s premier annual forums focused on global economic and public policy issues.

In addition, Sitharaman will visit the International Thermonuclear Experimental Reactor (ITER) project at Cadarache, one of the world’s largest international scientific collaborations in nuclear fusion, involving more than 30 partner countries, including India and France. She will also visit Campus Cyber, France’s national hub for cybersecurity innovation, research, and skill development, where discussions are likely to focus on sharing best practices for strengthening cyber resilience and fostering innovation in the digital economy. Furthermore, she is scheduled to meet Renaud Muselier, President of the Provence-Alpes-Cote d’Azur (PACA) Region, to discuss collaboration in areas such as investment, innovation, clean energy, technology, and regional economic partnerships. During the visit, the Finance Minister will also interact with members of the Indian diaspora in France.

The CNX Nifty is currently trading at 24148.05, up by 142.20 points or 0.59% after trading in a range of 24058.80 and 24159.45. There were 39 stocks advancing against 11 stocks declining on the index.

The top gainers on Nifty were Infosys up by 4.97%, HCL Technologies up by 4.01%, TCS up by 3.12%, Tech Mahindra up by 3.02% and Wipro up by 1.80%. On the flip side, Larsen & Toubro down by 1.01%, Bharti Airtel down by 0.86%, NTPC down by 0.81%, Power Grid down by 0.78% and Max Healthcare Institute down by 0.74% were the top losers.

Asian markets were trading mixed; Nikkei 225 slipped 1,261.96 points or 1.79% to 69,213.00, Taiwan Weighted fell 526.77 points or 1.12% to 46,492.22, KOSPI dropped 441.51 points or 5.32% to 7,861.90 and Shanghai Composite was down by 37.14 points or 0.90% to 4,075.31. On the other hand, Hang Seng rose 247.98 points or 1.07% to 23,129.00, Jakarta Composite gained 94.21 points or 1.65% to 5,789.33 and Straits Times was up by 19.71 points or 0.38% to 5,181.21.
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