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Informist, Wednesday, Jul. 1, 2026

 

By Arya S. Biju

MUMBAI – Benchmark equity indices ended higher, snapping a two-day losing run, supported by a continued fall in crude oil prices amid signs of a recovery in shipping through the Strait of Hormuz. Investors continued to monitor peace talks between the US and Iran. After inching up in early trade on Wednesday, the September Brent crude futures contract was down 1.1% at $72.18 per barrel at 1612 IST.  

 

The Nifty 50 index settled at 24005.85, up 140.10 points or 0.6%. The BSE Sensex closed at 76922.64, up 443.97 points or 0.6%. The 50-stock index closed above the psychologically important 24000-point mark after two sessions, supported by gains in automobile and select fast-moving consumer goods stocks. Meanwhile, a sharp decline in information technology and select banking stocks arrested further gains in the index. 

 

US and Iranian officials are holding indirect, low-level technical talks through Qatari and Pakistani mediators in Doha, CNN reported, citing a diplomatic source. Separately, Iranian officials were set to meet Qatari mediators on Wednesday to discuss the US-Iran interim peace agreement and the frozen assets. This comes after the Qatari prime minister met with US envoys Steve Witkoff and Jared Kushner Tuesday to discuss ongoing US-Iran talks and regional developments, CNN reported.

 

The domestic equity market traded higher today because the tail-risk on crude is receding faster than the noise around it suggests, Harshal Dasani, business head at INVasset PMS, said. The Doha talks, combined with Brent softening back toward $73 per barrel, are dialling down the geopolitical premium that had built into the last two sessions. "Under the surface, the more durable driver is the FII-DII imbalance, with DIIs buying 6,842 crore (INR 68.42 billion) against FII selling of 2,557 crore (INR 25.57 billion) on June 30, a 2.7 to 1 absorption ratio," he added. 

 

The rally was broad-based, with the Nifty small-cap and mid-cap indices rising 0.2–0.7%. Large caps outperformed their mid-and small-cap peers due to a favourable valuation and an expectation of a partial reversal of foreign portfolio investor sentiment after the last two years of outflows, Vinod Nair, head of research at Geojit Investments, said in a note. 

 

Most sectoral indices, except for Nifty IT, Nifty Metal, Nifty Pharma, and Nifty Healthcare, ended higher. The gains were led by Nifty Realty, Nifty FMCG, and Nifty Media, up 2.1–3.6%. Shares of most fast-moving consumer goods companies rose Wednesday, led by Dabur India, Colgate Palmolive (India), Nestle India, Godrej Consumer Products, and Hindustan Unilever, up 3-5%. HSBC projected consumer staples companies to post steady growth in the June quarter, driven by resilient demand and price hikes, but warned that El Nio and weak monsoon rains could weigh on rural demand later in 2026-27 (Apr-Mar), Reuters reported, citing the brokerage.

 

Shares of most automobile makers rose Wednesday after companies reported sales figures for June. The Nifty Auto index gained over 1% Wednesday. Shares of Maruti Suzuki India, Mahindra & Mahindra, Ashok Leyland, and Eicher Motors rose 1-3?ter reporting robust sales for the past month.  

 

Shares of RITES rallied 14% after the company received a INR-1.75-bln order from Babasaheb Bhimrao Ambedkar University to be the project management consultant for planning, design and development of infrastructural facilities and other related work on the university campus. The sentiment around the stock was also boosted after brokerage Prabhudas Lilladher said it targets an order book of INR 100 billion by FY27, following an interaction with the company's management. Around two-thirds of the company's order book is relatively young, around 12–18 months, providing strong revenue visibility as these projects enter the execution phase in 2026-27 (Apr-Jun) and FY28, the brokerage said.

 

Shares of Reliance Power surged over 9% after the company said it had undertaken steps through its subsidiaries to incorporate artificial intelligence and related technology-driven activities within its business framework. Shares of Page Industries rose over 5% after brokerage Citi upgraded its recommendation on the stock to 'buy' from 'sell' and hiked its target price by 40% to INR 47,700. Citi also opened a positive 90-day catalyst watch on the stock.

Information technology stocks remained under pressure, with the Nifty IT falling to its lowest closing level in over five years of 25769.80 points Wednesday after brokerages took a cautious stance on their earnings outlook. Brokerages expect the June-quarter earnings of these companies to be hit by macroeconomic challenges and the risks posed by the advancement of artificial intelligence. They also expect the management commentaries to stay soft in Apr-Jun. "Despite valuations having corrected meaningfully, we believe a sustained re-rating will require evidence that demand is improving, revenue growth is stabilising, and companies can demonstrate that AI-led opportunities are beginning to offset productivity-related headwinds," Motilal Oswal Financial Services said in a note.

 

Shares of KPIT Technologies tumbled 17% to their lowest level in nearly four years at INR 557.55. Shares of the company fell after it warned of weak June-quarter results, flagging a 1?cline in dollar revenue due to sudden actions by some European original equipment manufacturers. The company's net profit and operating profit margin for the quarter are also likely to decline sequentially, and by a larger margin than the revenue decline, as there was no window for cost optimisation during this short period, the company said in an exchange filing late Tuesday. Earlier in the day, the company further stated that its September-quarter revenue will be in a similar range to the June-quarter revenue. 

 

* Of the Nifty 50 stocks, 33 rose, 17 fell

* Of the Sensex stocks, 22 rose, 8 fell 

* On the NSE, 1,852 stocks rose, 1,473 fell, and 100 were unchanged

* On the BSE, 2,276 stocks rose, 1,995 fell, and 176 were unchanged
* Nifty Realty: up 3.6%; Nifty FMCG: up 2.1%; Nifty IT: down 2.0%

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BSE                                             NSE

Sensex: 76922.64, up 443.97 points, or 0.6%   Nifty 50: 24005.85, up 140.10 points, or 0.6%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 95.2475

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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