Stock Market, July 2, 2026: Sensex Climbs 300 points, Nifty Up 100 points at Open as Oil Slides on Strait of Hormuz Progress

Mumbai, July 2: 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. 

Gainers & Laggards 

Among Nifty 50 constituents, Infosys (INFY) led gainers, rising 3.93% to Rs 1,024.00 from a previous close of Rs 985.30, followed by HCL Technologies (HCLTECH), up 3.58% to Rs 1,071.20 against Rs 1,034.20. Tata Consultancy Services (TCS) climbed 2.73% to Rs 2,036.70 from Rs 1,982.60, Tech Mahindra (TECHM) advanced 2.33% to Rs 1,394.00 versus Rs 1,362.20, and Eternal (ETERNAL) gained 1.45% to Rs 283.75 from Rs 279.70. 

On the losing side, NTPC (NTPC) fell 1.23% to Rs 353.50 from Rs 357.90, while Power Grid (POWERGRID) slipped 0.87% to Rs 285.05 from Rs 287.55. Bajaj Finance (BAJFINANCE) declined 0.79% to Rs 1,006.90, ONGC (ONGC) fell 0.74% to Rs 233.24, and Bharti Airtel (BHARTIARTL) eased 0.74% to Rs 1,857.10. 

Broader Markets & Sectoral Indices 

Broader market indices traded uniformly higher, while sectoral indices were more mixed, led by a sharp rally in IT stocks even as media and oil and gas counters lagged. 

Among broad market gauges, Nifty Smallcap 100 led with a 0.41% gain, followed by Nifty Smallcap 250, up 0.36%, and Nifty 50, up 0.35%. All broad market indices traded in the green, with none in the red at last count. 

In the sectoral space, Nifty IT surged 2.85%, by far the top gainer, followed by Nifty Midsmall IT & Telecom, up 1.07%, and Nifty Realty, higher by 1.02%. Only two sectoral gauges were in the red, Nifty Media, down 0.11%, and Nifty Oil & Gas, down 0.08%. 

Oil Prices 

Oil prices fell further on Thursday after Qatar flagged “positive progress” in the Doha talks on the Strait of Hormuz, Reuters reported. Brent crude dropped 0.69% to $70.84 a barrel, while U.S. WTI fell 1.21% to $67.75 a barrel. Both benchmarks had already lost more than 1% in the previous session to their lowest levels in four months. 

Middle East Conflict 

Iran and the United States concluded two days of indirect talks in Doha on Wednesday without a breakthrough on lasting peace, focusing on the Strait of Hormuz and unfreezing Iranian funds, Reuters reported. Qatar’s foreign ministry said the talks produced positive progress, building on an earlier Switzerland summit. Trump said talks on limiting Iran’s nuclear programme were moving along well, though sources said the issue did not actually come up in the technical discussions. The next round will be held only after funerals for Iran’s late Supreme Leader Ayatollah Ali Khamenei, due to be buried on July 9. 

Asian & US Markets 

Asian markets were mixed on Thursday morning, with Hong Kong’s Hang Seng jumping 1.86% to 23,306.53 and Pakistan’s KSE 100 surging 2.08%. Japan’s Nikkei 225 fell 0.96%, while China’s Shanghai Composite slipped 0.85%. 

Wall Street ended mixed on Wednesday, with the Dow slipping 0.03% to 52,305.24 and the Nasdaq down 0.66%. The S&P 500 fell 0.22% to 7,483.23. 

Indian Markets on Wednesday  

The Sensex and Nifty had snapped a two-session losing streak on Wednesday, with the Sensex rising 443.97 points, or 0.58%, to 76,922.64 and the Nifty 50 gaining 140.10 points, or 0.59%, to reclaim the 24,000 mark at 24,005.85. Broad-based buying in realty, FMCG, financial and auto stocks powered the rally, even as the Nifty IT index fell 2% after KPIT Technologies warned of weaker revenue. Market breadth stayed positive, with 2,158 advancing against 1,935 decliners and 165 unchanged. 

Sources

• nseindia.com
• bseindia.com
• https://www.reuters.com/world/asia-pacific/us-iran-enter-technical-talks-secure-peace-deal-restart-shipping-2026-07-01/
• https://www.reuters.com/markets/stocks/americas/
• https://www.reuters.com/business/energy/oil-falls-after-us-iran-talks-conclude-doha-2026-07-02/