Stock Market Mid-Day Report, July 6, 2026: Markets Maintain Rise, Follow Asian Counterparts as Oil Prices Dip on OPEC+ Production Increase

Mumbai, July 6: Indian benchmarks continued their upward trajectory from the open at midday on Monday, following Asian peers and Wall Street’s positive finish on Thursday, but oil prices fell on OPEC+ agreeing to increase production by another 188,000 barrels per day.

The S&P BSE Sensex rose 509.25 points or 0.65% to 78,273.16 and the NSE Nifty 50 was up 155.15 points or 0.64% to 24,426.00 as of 12:05 pm local time. Both benchmarks widened their gains from the morning open.

Gainers & Losers

Leading gainers in the Nifty were HDFC Bank (HDFCBANK), jumping 3.16% to Rs 826.40 compared to the previous close of Rs 801.05. Mahindra & Mahindra (M&M) advanced 2.07% to Rs 3,201.90 from Rs 3,136.90 and Hindalco (HINDALCO) added 2.07% to Rs 972.95 from Rs 953.20. Bajaj Auto (BAJAJ- AUTO) climbed 1.98% to Rs 9,979.00 versus Rs 9,785.50 and Bharat Electronics (BEL) was up 1.76% to Rs 425.40 from Rs 418.05.

Top losers included Kotak Mahindra Bank (KOTAKBANK) shedding the most on the index, down 3.18% to Rs 384.15 versus Rs 396.75. Tata Consultancy Services (TCS) declined 1.53% to Rs 2,061.50 from Rs 2,093.50, Wipro (WIPRO) slipped 1.12% to Rs 174.10 from Rs 176.08, Dr Reddy’s (DRREDDY) dipped 1.08% to Rs 1,359.30 from Rs 1,374.10 and Infosys (INFY) dropped 0.99% to Rs 1,036.80 from Rs 1,047.20.

Broader Markets & Sectoral Indices

The Nifty Next 50 added 0.66%, the Nifty Smallcap 100 rose 0.47% and the Nifty Midcap 100 increased by 0.35%, with every broad market index on the tracker trading in positive territory through the morning session and no true negatives on the radar. Sectorally, Realty was the top performer, with Nifty Realty gaining 1.74%. Nifty Auto jumped 1.25% and Nifty Oil & Gas advanced 1.01%. The laggards were Nifty Media, down 1.07%, Nifty Waves dipping 1.01% and Nifty IT sliding 0.81%.

Sentiment remained largely unaffected by news coming out of Iran. Three sons of top Iranian military figure slain Supreme Leader Ayatollah Ali Khamenei prayed beside his coffin at a mass funeral in Tehran on Sunday but Mojtaba, his apparent successor, hasn’t appeared in public since his family was killed in the US-Israel war on Feb. 28.

Asian Markets

Asian markets traded mixed on Monday midday with Malaysia’s KLCI, Indonesia’s JSX Composite and Hong Kong’s Hang Seng Indexes seeing the most gains, while Japan’s Nikkei 225, Australia’s All Ordinaries and Thailand’s SET Index traded lower. Wall Street ended positive on Thursday before the Independence Day holiday with Dow Jones surging 1.14% and the NYSE Composite increasing by 0.93%, while the Nasdaq Composite retreated 0.80% on weakness in selective technology stocks.

Oil Prices

Oil prices weakened on Monday following news that OPEC+ would raise production targets by an additional 188,000 barrels per day beginning in August. Brent crude futures fell 24 cents or 0.33% to $71.88 a barrel and US WTI crude eased 11 cents or 0.16% to $68.58 per barrel. Global supply concerns continue to mount after the increase has mostly remained on paper so far due to the US-Israel war on Iran slowing tanker traffic through the Strait of Hormuz for top producing countries in the Gulf region.

Markets opened higher on Monday with the Sensex up 287.78 points or 0.37% to 78,051.69 and Nifty 50 increasing by 81.55 points or 0.34% to 24,352.40 as of 9:22 am. Both indexes built on positive momentum from Friday’s session, where each continued their winning streak to a third straight day of gains on receding fears of the US Federal Reserve cutting interest rates sooner than later. Market breadth has since improved through Monday’s morning session with both benchmarks trading well above their opening levels by noon.