Circuits, Coffers and Cures: IT, NBFCs and Healthcare Lead Thursday’s Rebound

Mumbai, July 2: Indian equities found renewed direction on Thursday, as three sectors staged a coordinated rebound after a stretch of choppy, geopolitics-driven trade. The Nifty IT Index rocketed 4.45% to 26,917.30, its sharpest single-day move in months, as beaten-down technology counters attracted aggressive bargain-hunting.  

The Nifty Financial Services Ex-Bank Index added 0.53% to 32,292.50, with non-banking lenders outperforming a subdued banking pack. And the Nifty Healthcare Index climbed 0.56% to 16,151.65, extending a steady run of gains for pharma and hospital names. Together, these three sectors mark a market rotating decisively back into technology after a prolonged sell-off, even as domestic financials and defensives kept drawing steady support through a session otherwise short on clear direction. 

Circuits: IT Stocks Stage a Sharp Comeback as Bargain-Hunters Return 

The Nifty IT Index surged 4.45% to 26,917.30 from a previous close of 25,769.80, a nearly 1,148-point move that outpaced every other sectoral gauge. The rally was broad-based, with all ten constituents ending in the green after a stretch in which the sector has badly lagged the market — the index is still down 13.5% over 30 days and 30.77% over the past year. That steep discount appears to be drawing buyers back in, with investors treating Thursday’s move as a tactical bounce in a sector battered by weak revenue guidance and global tech-spending worries. 

• Coforge (COFORGE): The session’s top gainer, jumping 5.92% to Rs 1,451.90 from Rs 1,370.70, with an intraday high of Rs 1,457.90. 

• Infosys (INFY): Advanced 5.49% to Rs 1,039.40 from Rs 985.30, intraday high Rs 1,040.60. As the index heavyweight, its move set the tone for the rally. 

• Mphasis (MPHASIS): Rose 5.35% to Rs 2,240.50 from Rs 2,126.80, intraday high Rs 2,248.00, after a 30-day decline of 6.18%. 

• Persistent Systems (PERSISTENT): Gained 5.28% to Rs 4,559.00 from Rs 4,330.20, intraday high Rs 4,569.90, though still down 16.71% over 30 days. 

Coffers: NBFCs and Capital-Market Plays Power Financial Services Ex-Bank Higher 

The Nifty Financial Services Ex-Bank Index added 0.53% to close at 32,292.50, a steadier gain than IT’s sharp bounce. The move stood out against a lacklustre banking pack — Nifty Bank slipped 0.08% and Nifty Private Bank fell 0.16% — as money instead favoured non-banking lenders, housing financiers and capital-market intermediaries. The divergence points to investors rewarding financial names with diversified, non-lending revenue streams, even as bank stocks consolidated. The index’s 30-day return of 6.81% shows the ex-bank space has been a consistent outperformer. 

• Bajaj Finserv (BAJAJFINSV): The pack’s top gainer, up 2.18% to Rs 1,836.70 from Rs 1,797.60, intraday high Rs 1,854.00. 

• Shriram Finance (SHRIRAMFIN): Rose 1.92% to Rs 1,068.20 from Rs 1,048.10, intraday high Rs 1,071.00. Its 365-day return of 57.82% is the strongest in the index. 

• Muthoot Finance (MUTHOOTFIN): Gained 1.87% to Rs 2,969.30 from Rs 2,914.90, intraday high Rs 3,001.00, extending the gold-loan financier’s momentum. 

• MCX (MCX): Advanced 1.47% to Rs 3,005.60 from Rs 2,962.00, intraday high Rs 3,038.00. Its 365-day return of 68.07% remains the standout in the pack. 

Cures: Healthcare Extends Gains as Hospitals and Specialty Pharma Outperform 

The Nifty Healthcare Index rose 0.56% to 16,151.65 from a previous close of 16,060.95, a quieter but more consistent advance than its two counterparts. Unlike IT’s sharp snapback, healthcare’s gain builds on a 30-day return of 6.34% and a 365-day return of 11.05%, evidence of a genuine, sustained up-cycle rather than a one-day bounce. Hospital operators and specialty pharma names led the move, supported by resilient domestic demand, steady export pipelines and the sector’s defensive appeal amid the fragile Iran ceasefire. 

• Fortis Healthcare (FORTIS): The session’s top gainer, surging 2.47% to Rs 972.45 from Rs 949.05, intraday high Rs 974.20. 

• Glenmark Pharmaceuticals (GLENMARK): Advanced 1.61% to Rs 2,196.80 from Rs 2,161.90, intraday high Rs 2,214.90. Its 365-day return of 24.14% ranks among the strongest in the index. 

• Divi’s Laboratories (DIVISLAB): Rose 1.60% to Rs 6,650.50 from Rs 6,545.50, intraday high Rs 6,660.00, reflecting continued strength in the specialty API and CDMO space. 

• Syngene International (SYNGENE): Gained 1.59% to Rs 438.40 from Rs 431.55, intraday high Rs 438.90, adding to the broad-based buying across the pack. 

Source

•  NSE India | https://www.nseindia.com | Nifty IT, Nifty Financial Services Ex-Bank, Nifty Healthcare index data as of Thursday, July 2, 2026.