Stock Market Open, July 1, 2026: Sensex, Nifty Open Marginally Higher as Iran Hints to Take Part in Doha Talks; Consumer Durables, Pharma & Media Stocks Shine

Mumbai, July 1: Indian stock benchmarks opened marginally higher on Wednesday, the first session of July, following Iran signalling that it will dispatch a delegation to Doha for talks with Qatari mediators later in the day, potentially dialling down geopolitical fears after the turbulence of the past two sessions. The somewhat softer Iran rhetoric on Tuesday evening along with the strong close on Wall Street Tuesday helped Risk assets open firmer despite the underlying risk aversion which remains firmly entrenched. 

Asian markets are trading mixed while benchmarks in the US ended sharply higher on Tuesday. 

The BSE Sensex was trading at 76,663.94 (+185.27 or +0.24%) and the NSE Nifty 50 added 50.95 points (+0.21%) to 23,916.70 as of 09:20 am. The indices are down significantly from their opening levels, trading below 24,000 that they haven’t been able to cross during most of the past two weeks of geopolitics-driven trade. 

Gainers & Losers 

Mahindra & Mahindra led the gainers’ list, rising 2.09% to a last traded price (LTP) of Rs 3,133 from its previous close of Rs 3,068.80, followed by Titan Company, which jumped 2.02% to Rs 4,493.10 against Rs 4,404.00 in prior close. Eternal surged 1.47% to Rs 268.50 from Rs 264.60, while Sun Pharma rose 1.19% to Rs 1,884.60 from Rs 1,862.50, and Infosys added 1.12% to Rs 1,011.60, recovering from Tuesday’s tech-sector rout, against a previous close of Rs 1,000.40.  

On the losing side, Bajaj Finserv was the steepest decliner, dropping 1.40% to an LTP of Rs 1,755.20 from a previous close of Rs 1,780.20, followed by HDFC Life, which lost 0.77% to Rs 571.40 from Rs 575.85. JSW Steel slid 0.61% to Rs 1,218.90 against a prior close of Rs 1,226.40, Hindalco fell 0.58% to Rs 951.05 from Rs 956.60, and Coal India eased 0.54% to Rs 436.70 from its previous close of Rs 439.05. 

Broad Markets 

Broad markets were stronger than the benchmarks with the small-cap space outperforming other market capitalisation categories. The Nifty Smallcap 250 was the top performer among broad market indices, rising 0.72%, followed by Nifty Smallcap 50 (+0.43%) and Nifty Midcap Select (+0.39%). Top decliners were Nifty Metal (-0.71%) among broad indices, Nifty Commodities (-0.25%), and the Nifty Bank (-0.05%) index which saw some selling into the open due to caution over rate-sensitive financials. 

Sectoral Indices 

On the sectoral front, Nifty Consumer Durables was the top gainer snapping three sessions of losses and jumping 1.36%. Nifty Media (+1.57%) and Nifty Pharma (+0.73%) also outperformed on continued optimism around domestic demand-driven stocks. Top losers were Nifty Metal (-0.71%), Nifty Midsmall IT & Telecom (-0.37%), extending Tuesday’s steep sell-off in tech stocks, and Nifty PSU Bank (-0.14%). 

Iran War 

Iran will not be meeting directly with US officials Jared Kushner and Steve Witkoff at Doha later on Wednesday, however Iranian officials said they would meet with Qatari mediators — even as President Trump said that the US delegation will be meeting in Doha for “very high-level talks”. The June 17 ceasefire framework agreed to by the US and Iran appeared shaky as the details of that ceasefire framework remained unresolved between the two sides, including Iran’s continued blockading of the Strait of Hormuz and Iran’s nuclear ambitions. 

President Trump reportedly considered launching fresh airstrikes against Iran but changed his mind and decided to give diplomatic efforts more time — for now. US officials told Reuters that Trump agreed to British requests to hold off on military action, however President Trump suggested Tuesday that he believed there was a “good chance” of conflict escalating once again. 

Asian Markets 

Asian markets are trading mixed as of Wednesday’s writing with Indonesia’s Jakarta Composite Index falling 3.05% the sharpest decliner, Japan’s Nikkei 225 rallying 0.67%, and Thailand’s SET index up 0.85%. 

US Markets 

US markets ended sharply higher on Tuesday riding optimism around corporate earnings season. The Nasdaq Composite jumped 1.52%, while the S&P 500 gained 0.79%, and Dow Jones Industrial Average added 0.26%.

Indian Markets’ Tuesday Closing 

Indian benchmark indices had ended Tuesday’s session lower, the final trading day of June, as heavy selling in information technology stocks outweighed gains in select auto, realty and consumer-facing shares. The BSE Sensex fell 249.70 points, or 0.33%, to close at 76,478.67, while the Nifty 50 declined 80.50 points, or 0.34%, to settle at 23,865.75, slipping below the 23,900 mark. Market breadth on Tuesday was positive despite the benchmark weakness, with approximately 2,250 stocks advancing against 1,805 declining on the NSE.

Sources

• nseindia.com
• bseindia.com