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Sensex, Nifty trade firm in early deals on healthy buying
Jul-03-2026

Indian equity benchmarks made an optimistic start on Friday tracking positive cues from Asian peers. Sensex and Nifty were trading firm with gains of over half a percent each in early deals on account of healthy buying in Metal, Basic Materials, Realty, IT and TECK stocks. Strong rupee and improved global sentiment also supported domestic markets. Traders took note of report that the government has pushed the pedal on its disinvestment and asset monetisation plan in the current fiscal, raising about 31 per cent of its full-year budgeted target in the first quarter itself. Though, upside remained capped as foreign portfolio investors (FPIs) continued to offload Indian equities, selling shares worth Rs 3.12 billion on July 02. FPIs have sold a record $29.46 billion worth of Indian stocks so far this year.

On the sectoral front, railways’ stocks were in focus as the railway ministry said the Indian Railways transported 419.08 million tonnes of freight in the first quarter (April-June) of the 2026-27 fiscal, registering a growth of 1.46 per cent compared to the corresponding period during the previous financial year. On the global front, Asian markets were trading mostly higher after weaker-than-expected US jobs data reduced expectations of aggressive interest rate hikes by the US Federal Reserve.

The BSE Sensex is currently trading at 77985.11, up by 482.99 points or 0.62% after trading in a range of 77854.83 and 78157.52. There were 23 stocks advancing against 7 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.92%, Basic Materials up by 1.44%, Realty up by 1.24%, IT up by 1.21% and TECK up by 1.11%, while Power down by 1.35%, Capital Goods down by 0.87%, Industrials down by 0.41%, Utilities down by 0.18% and PSU down by 0.11% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 3.74%, Tata Steel up by 3.07%, Bajaj Finserv up by 2.66%, Bharat Electronics up by 1.67% and Sun Pharma up by 1.63%. On the flip side, State Bank of India down by 0.70%, Mahindra & Mahindra down by 0.67%, NTPC down by 0.40%, Titan Company down by 0.34% and Interglobe Aviation down by 0.22% were the top losers.

Meanwhile, India and Japan have unveiled a raft of initiatives, including an economic partnership framework and a defence pact to co-develop military hardware following talks between Prime Minister (PM) Narendra Modi and his Japanese counterpart Sanae Takaichi. The two sides also rolled out measures to solidify their cooperation in key sectors such as energy and critical technology. PM Modi said ‘The economies of India and Japan are complementary. From cultural values to modern technology, there is similarity in our thinking and approach as well’. He added ‘And above all, the foundation of our relations rests on unbreakable mutual trust’, reflecting the growing congruence in ties between the two countries.

Modi said the two sides have prepared a joint roadmap for economic security. He said ‘Through this, we will strengthen supply chain resilience in strategic areas such as semiconductors, quantum, and advanced materials’. He said India and Japan have also taken several important decisions in the field of energy security. He noted ‘Through the India-Japan bio-gas initiative, we will set up one thousand bio-gas and organic fertiliser plants in India. This will give new strength to sustainability, prosperity, and rural livelihoods in India’s villages’.

The Japanese prime minister is on a three-day visit to India. There has been an upswing in India-Japan ties. The relationship was elevated to a Special Strategic and Global Partnership in 2014. As the two countries approach the 75th anniversary of the establishment of diplomatic relations in 2027, cooperation continues to deepen across a wide range of sectors, including trade and investment, economic security, defence and security, science and technology, culture, and people-to-people ties. The bilateral framework now comprises over 70 dialogue mechanisms.

The CNX Nifty is currently trading at 24336.80, up by 161.10 points or 0.67% after trading in a range of 24295.15 and 24378.15. There were 40 stocks advancing against 10 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 3.79%, Tata Steel up by 2.79%, Bajaj Finserv up by 2.66%, Hindalco Industries up by 2.61% and Dr. Reddy's Lab up by 1.84%. On the flip side, State Bank of India down by 0.86%, Tata Motors Passenger Vehicles down by 0.85%, Adani Enterprises down by 0.74%, Tech Mahindra down by 0.71% and Mahindra & Mahindra down by 0.68% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 794.85 points or 1.16% to 69,528.00, Hang Seng jumped 327.97 points or 1.4% to 23,383.00, KOSPI rose 318.59 points or 4.17% to 7,966.68, Jakarta Composite gained 141.61 points or 2.47% to 5,886.17, Shanghai Composite strengthened 27.88 points or 0.69% to 4,056.78 and Straits Times was up by 18.84 points or 0.36% to 5,235.99, while Taiwan Weighted lost 237.64 points or 0.51% to 46,506.52.
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