Stock Market Today, July 6, 2026: Sensex, Nifty Open Higher Tracking Firm Asian Cues; Oil Dips as Iran Mourning Continues

Mumbai, July 6: Indian equity benchmarks opened higher on Monday tracking gains across Asian peers and a steady Wall Street close on Thursday, before markets shut for the weekend. Oil prices slipped after OPEC+ opened the taps further even as Iran’s state of mourning ended over the weekend without any major escalation.

Sentiment remained largely unaffected even as Iran stages a week of funeral processions for its slain supreme leader.

The S&P BSE Sensex opened 287.78 points or 0.37% higher at 78,051.69, while the NSE Nifty 50 added 81.55 points or 0.34% to 24,352.40 as of 9: 22 am on Monday, building on positive moves from Friday’s session.

Gainers & Losers

Axis Bank topped Nifty gainers on Monday morning, rallying 1.82% to Rs 1,366.50 from Friday’s close of Rs 1,342.10. HDFC Bank rose 1.43% to Rs 812.50 against Rs 801.05, while Bharat Electronics added 0.79% to Rs 421.35 from Rs 418.05. Bajaj Auto advanced 0.74% to Rs 9,857.50 from Rs 9,785.50, and Adani Enterprises climbed 0.6% to Rs 3,231.30 versus Rs 3,212.10.

Kotak Mahindra Bank was the top loser among Nifty 50 banks, down 2.51% to Rs 386.80 from Rs 396.75. Tech Mahindra slipped 0.67% to Rs 1,400.70 from Rs 1,410.10, while TCS eased 0.66% to Rs 2,079.60 against Rs 2,093.50. Wipro fell 0.54% to Rs 175.13 from Rs 176.08, and InterGlobe Aviation dropped 0.4% to Rs 5,405 from Rs 5,426.50.

Broader Markets & Sectoral Performance

Breadth was positive across the broader market on Monday morning with the Nifty Midcap 100 rising 0.24%, the Nifty Midcap 50 up 0.21% and the Nifty Next 50 adding 0.21%. None of the headline broad-market gauges traded in the red at open.

Sectorally, Nifty Realty was the top gainer at 0.86%, followed by Nifty Metal up 0.39% and Nifty Pharma adding 0.24%. Nifty Private Bank was the sole laggard in the red, down a marginal 0.03%.

Iran War

Iran continued its week of mass mourning for Supreme Leader Ayatollah Ali Khamenei with three of his sons praying beside his coffin at a Tehran mosque on Sunday. However, Mojtaba Khamenei who took over from his father as supreme leader, remained unseen in public.

Asian & US Markets

Asian markets were mostly in the green on Monday morning. Indonesia’s Jakarta Composite jumped 2.28% while Hong Kong’s Hang Seng rose 0.90%. Malaysia’s FTSE Bursa Malaysia KLCI index gained 1.31% and Thailand’s SET was up 1.11%. Japan’s Nikkei 225 bucked the trend lower, down 0.95%.

Wall Street rose on Thursday with the Dow Jones Industrial Average jumping 594.83 points or 1.14% while the Nasdaq Composite bucked the trend lower to end 0.80% down.

Oil Prices

Oil prices traded lower on Monday morning, with Brent crude slipping 0.33% at $71.88 a barrel and West Texas Intermediate dipping 0.16% to $68.58 after OPEC+ agreed on a modest increase in output targets from August. Oil shipments from Gulf producers had already begun to recover after last week’s attacks. Both benchmarks were little changed on the week as traders weighed lingering uncertainty over Strait of Hormuz tensions. US benchmark WTI recorded no trading Friday and no settlement after markets remained closed on the Independence Day holiday.

Indian Markets on Friday

Indian markets ended higher on Friday, logging their third straight session of gains. The Sensex ended up 261.79 points or 0.34% at 77,763.91 while the Nifty 50 gained 95.15 points or 0.39% to 24,270.85. Shares of IT, pharma and realty stocks led gains, while select banking and energy stocks weighed on the broader market’s move higher. Among sectoral indices on the NSE, the Nifty IT was the top performer, rising 1.8% on the back of hopes that the US Fed could cut rates earlier.

Sources: bseindia.com, nseindia.com