Market Updates: Sensex Soars 500 Points, Nifty Above 24,330; IT Stocks Lead As HCLTech Surges Over 6%

Last Updated:July 03, 2026, 11:54 IST

Market Updates: At 11:50 am, the BSE Sensex trades 510.21 points, or 0.66%, higher at 78,012.33. The Nifty gains 162.40 points, or 0.67%, to 24,338.10.

Stock Market Today, July 3.

Stock Market Today: Domestic equities traded firmly higher on Friday afternoon, supported by strong gains in information technology shares and positive global cues, although profit booking in banking and select broader market stocks pared some of the early gains.

At 11:50 am, the BSE Sensex was trading 510.21 points, or 0.66%, higher at 78,012.33. The NSE Nifty 50 gained 162.40 points, or 0.67%, to 24,338.10.

Broader markets trade mixed; India VIX declines

The broader market delivered a mixed performance. The Nifty 100 rose 0.53%, the Nifty 200 gained 0.41% and the Nifty 500 advanced 0.35%. However, the Nifty Midcap 100 slipped 0.08%, while the Nifty Smallcap 100 edged up 0.09%.

Meanwhile, India VIX, the market’s fear gauge, declined 3.64% to 11.84, indicating easing volatility and improving investor confidence.

IT leads sectoral gains; PSU banks under pressure

The Nifty IT index remained the top sectoral performer, rallying 2.57% on strong buying in frontline technology stocks. The Nifty Pharma and Nifty Healthcare indices gained 1.73% and 1.70%, respectively, while Nifty Realty rose 1.70% and Nifty Metal advanced 1.03%.

On the other hand, Nifty PSU Bank fell 1.13%, making it the worst-performing sector of the day. Nifty Consumer Durables also traded marginally lower, down 0.22%.

HCLTech shines; banking stocks see profit booking

Among Sensex constituents, HCLTech surged 6.54% after announcing a $1.14 billion digital transformation deal. Tech Mahindra, Tata Steel, TCS, Sun Pharma, Eternal, Bajaj Finance and Bajaj Finserv were also among the top gainers.

On the losing side, IndusInd Bank, Adani Ports, Axis Bank, Kotak Mahindra Bank, SBI, Larsen & Toubro and Mahindra & Mahindra traded in the red as investors booked profits in select financial and industrial stocks.

‘Banking has fundamental strength, IT rally driven by valuations’

V K Vijayakumar, chief investment strategist at Geojit Investments, said India’s outperformance continues to be supported by moderating foreign institutional investor (FII) outflows and the sharp correction in crude oil prices, which has emerged as a strong macroeconomic positive for the economy.

He said banking stocks have the fundamental strength to sustain the ongoing rally, helped by robust credit demand and encouraging inflows under the FCNR(B) deposit scheme. Reports suggest the scheme could mobilise up to $60 billion, providing deposit-starved banks with additional resources to expand lending.

On the technology sector, Vijayakumar said the recent rally is largely valuation-driven. While IT stocks have rebounded from attractive valuation levels, he believes the sector currently lacks the fundamental earnings momentum needed to sustain the uptrend over the longer term.

Global cues remain supportive

Investor sentiment also remained upbeat after weaker-than-expected US labour market data reinforced expectations that the US Federal Reserve may delay further policy tightening. Asian markets traded mostly higher, while softer crude oil prices and easing geopolitical concerns continued to support risk appetite across global equities.

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Mohammad HarisDeputy News Editor (Business)

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More

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