Sotck Markets Mid-Day Report, July 2, 2026: Sensex, Nifty Extend Gains; Easing Iran-US Tensions and Falling Oil Prices Lift Sentiment

Mumbai, July 2: Domestic benchmark indices extended Wednesday’s rally into Thursday’s midday trade, with the BSE Sensex at 77,184.74, up 262.10 points or 0.34%, and the NSE Nifty 50 at 24,094.85, up 89.00 points or 0.37%, as of 11:52 am. The gains came as easing tensions between Iran and the US over the Strait of Hormuz and falling crude oil prices lifted sentiment across Dalal Street, building on the broad-based buying seen in Wednesday’s session. 

Gainers & Laggards 

Among Nifty 50 constituents, Infosys led gainers, rising 5.32% to Rs 1,037.70 from a previous close of Rs 985.30, followed by HCL Technologies, up 4.42% to Rs 1,079.90 against Rs 1,034.20. TCS climbed 3.5% to Rs 2,051.90 from Rs 1,982.60, Tech Mahindra advanced 2.86% to Rs 1,401.20 versus Rs 1,362.20, and Wipro gained 2.4% to Rs 174.21 from Rs 170.13.  

On the losing side, Larsen & Toubro led decliners, falling 1.7% to Rs 4,023.00 from Rs 4,092.60, followed by SBI Life, down 0.99% to Rs 1,773.10 against Rs 1,790.90. Bajaj Auto slipped 0.77% to Rs 9,766.00 from Rs 9,842.00, Bharti Airtel eased 0.68% to Rs 1,858.30 versus Rs 1,871.00, and Bharat Electronics fell 0.68% to Rs 413.40 from Rs 416.25. 

Broader Markets & Sectoral Indices 

In the broader market, all key gauges advanced, with the Nifty Smallcap 100 climbing 0.82%, the Nifty Midcap 50 up 0.57%, and the Nifty 500 up 0.40%; none of the primary broad-market indices declined at midday.  

Among sectoral indices, the Nifty IT index surged 4.16% to lead gains, followed by the Nifty Cement index, up 1.01%, and the Nifty Realty index, up 0.85%. On the downside, the Nifty Energy index slipped 0.23%, the Nifty PSU Bank index fell 0.21%, and the Nifty Infrastructure index eased 0.18%. 

Iran War 

Iran and the United States concluded a round of indirect talks in Doha on Wednesday, focused on maritime traffic through the Strait of Hormuz and unfreezing Iranian funds, with Qatar’s Foreign Ministry citing “positive progress” though no lasting peace deal emerged. The next round of talks will resume only after funeral processions for Iran’s late Supreme Leader Ayatollah Ali Khamenei, due to be buried on July 9. Trump said discussions on limiting Iran’s nuclear programme were also progressing well, even as sources said the nuclear issue did not actually come up in the technical talks. 

Asian & US Markets 

Asian markets were mixed on Thursday morning, with the Hang Seng surging 1.86% and the Nikkei 225 slipping 0.96%. US markets closed lower on Wednesday, with the S&P 500 down 0.22% and the Nasdaq Composite falling 0.66%. 

Oil Prices 

Oil prices fell in early trade on Thursday after Qatar said the US-Iran talks had made “positive progress” on the Strait of Hormuz, which handled a fifth of global oil supply before the war. Brent crude futures dropped 73 cents, or 1.02%, to $70.84 a barrel, while US West Texas Intermediate crude fell 83 cents, or 1.21%, to $67.75 a barrel. Both benchmarks had already slid more than 1% in the previous session to their lowest levels in four months. Iran has said it will impose tolls on shipping through the strait starting mid-August, once the toll-free window under the initial ceasefire agreement expires. 

Indian Markets on Thursday Morning  

In morning session, domestic benchmark indices extended Wednesday’s rally into Thursday’s early trade, with the BSE Sensex at 77,219.57, up 296.93 points or 0.39%, and the NSE Nifty 50 at 24,103.80, up 97.95 points or 0.41%, as of 9:22 am, as easing Iran-US tensions over the Strait of Hormuz and falling oil prices lifted sentiment. 

Sources

• nseindia.com
• bseindia.com