Stock Market Close Report, July 3, 2026: Sensex, Nifty Extend Winning Streak as Fed Fears Recede

Mumbai, July 3: Indian benchmark indices ended higher on Friday, extending their winning streak to a third consecutive session, as gains in information technology, pharmaceutical and realty stocks outweighed weakness in select banking and energy names. Softer-than-expected US labour market data strengthened expectations that the US Federal Reserve could begin easing monetary policy sooner than anticipated, boosting risk appetite across global markets. 

The Sensex rose 261.79 points or 0.34 per cent to 77,763.91, while the Nifty 50 gained 95.15 points or 0.39 per cent to 24,270.85. 

IT, pharma and realty lead gains 

The Nifty IT index emerged as one of the top sectoral performers, rising 1.8% as investors accumulated beaten-down technology stocks ahead of the June-quarter earnings season. Hopes of lower US interest rates also improved the outlook for export-focused software companies

Sensex advanced as stocks cheered improving rate outlook in the US. Source: BSE

HCL Technologies surged 5.7% after announcing a $1.14-billion AI-led digital transformation deal with a European client. Infosys, Tata Consultancy Services, Tech Mahindra and Wipro also ended higher, providing strong support to the benchmarks.

Pharmaceutical stocks attracted broad-based buying, with Zydus Lifesciences touching a one-year high after partnering with Apollo Hospitals to roll out its Shield blood-based multi-cancer detection test in India. Realty stocks also witnessed healthy buying interest, making the sector the day’s strongest performer. 

Metal stocks advanced as improving global risk sentiment and expectations of easier monetary policy boosted cyclical sectors. Tata Steel, JSW Steel and Hindalco Industries were among the key gainers. 

Nifty 50 clocked gains again as investors cheered easier oil prices along with softer than expected US labour market data. Source: NSE 

On the downside, Avenue Supermarts, the operator of the DMart retail chain, fell sharply after its June-quarter business update disappointed investors. 

PB Fintech, the parent of online insurance marketplace Policybazaar, also declined after a large block deal weighed on investor sentiment, while banking and energy stocks remained under pressure, limiting gains in the broader market. 

Among individual movers, Adani Enterprises reversed early losses to close higher after increasing the size of its qualified institutional placement (QIP) to Rs 15,000 crore following strong institutional demand. 

Sectoral trends 

Sectoral performance was broadly positive, led by IT, realty, pharmaceuticals and metals. In contrast, PSU banks, energy, auto and media stocks ended in the red. 

The broader market delivered a mixed performance, with the Nifty Midcap 100 ending marginally lower while the Nifty Smallcap 100 finished largely flat, indicating selective buying beyond the benchmark indices. 

What supported markets? 

Apart from expectations of a more accommodative US Federal Reserve, easing crude oil prices, and lower geopolitical tensions in the Middle East underpinned investor sentiment. 

Global interest-rate expectations and foreign fund flows are likely to remain key drivers for domestic equities in the coming sessions. 

Source

• NSE
• BSE