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Key gauges extend winning run for 3rd straight day
Jul-03-2026

Extending their winning momentum to the third day running, Indian equity benchmarks ended higher on Friday, amid a rally in Realty, IT and TECK stocks and a softer-than-expected US jobs data tempering expectations of near-term monetary tightening by the Federal Reserve. 

Some of the important factors in trade: 

India, Japan unveil economic partnership framework, defence pact: 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. 

Govt accelerates disinvestments to support revenues against backdrop of West Asia crisis: The Indian government has accelerated its disinvestment and asset monetisation plan in the current fiscal, raising about 31% of its full-year budgeted target in the first quarter itself. This is the fastest pace of disinvestment ever in the first quarter.

June sees slower growth in India’s services sector; PMI at 57.4: India’s services sector remained in expansionary territory in the month of June but eased to the lowest reading in 17 months. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 57.4 in June from 59.8 in May. 

Oil marketing companies incur losses of Rs 74,781 crore amid surge in global crude prices: Union Petroleum Minister Hardeep Singh Puri has said that oil marketing companies incurred losses of Rs 74,781 crore by selling petrol, diesel, and LPG below cost for the period up to June 30 when global crude oil prices spiked in the wake of the West Asia conflict. 

Global front: European markets were trading mostly in green as final purchasing managers' survey results published by S&P Global showed the euro area private sector stabilized in June after two months of moderate decline. The composite output index registered 50.0 in June compared to 48.5 in May. Asian markets settled higher, supported by easing geopolitical risks and fading expectations for a Federal Reserve rate hike.

Finally, the BSE Sensex rose 261.79 points or 0.34% to 77,763.91 and the CNX Nifty was up by 95.15 points or 0.39% to 24,270.85. 

The BSE Sensex touched high and low of 78,157.52 and 77,710.01, respectively. There were 18 stocks advancing against 12 stocks declining on the index.    

The top gaining sectoral indices on the BSE were Realty up by 2.22%, IT up by 1.55%, TECK up by 1.54%, Healthcare up by 1.31% and Basic Materials up by 0.90%, while Power down by 2.39%, Capital Goods down by 2.26%, Industrials down by 1.45%, Utilities down by 0.58% and PSU down by 0.50% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 5.79%, Bajaj Finserv up by 2.13%, Bharti Airtel up by 1.81%, Sun Pharma up by 1.77% and Ultratech Cement up by 1.65%. On the flip side, Axis Bank down by 1.56%, State Bank of India down by 1.13%, Mahindra & Mahindra down by 1.11%, Larsen & Toubro down by 0.83% and Tech Mahindra down by 0.75% 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.

CNX Nifty touched high and low of 24,378.15 and 24,252.35, respectively. There were 33 stocks advancing against 17 stocks declining on the index.   

The top gainers on Nifty were HCL Technologies up by 5.74%, Max Healthcare up by 2.19%, Sun Pharma up by 1.92%, Dr. Reddy's up by 1.87% and Bajaj Finserv up by 1.85%. On the flip side, Axis Bank down by 1.51%, State Bank Of India down by 1.01%, Larsen & Toubro down by 0.78%, Bajaj Auto down by 0.74% and Adani Ports and SEZ down by 0.73% were the top losers.  

European markets were trading mostly in green; France’s CAC rose 3.34 points or 0.04% to 8,478.20 and Germany’s DAX gained 135.02 points or 0.53% to 25,715.90, while UK’s FTSE 100 decreased 33.99 points or 0.32% to 10,618.88.

Asian markets settled higher on Friday as cooler-than-expected US jobs data prompted traders to scale back bets on Federal Reserve rate hikes. Data showed that US Nonfarm payrolls increased by 57,000 jobs in June, slower than the downwardly revised 129,000 added in May and worse than the street forecast of 115,000. Regional sentiment was also bolstered by easing geopolitical risks, following progress in US-Iran talks and signs of improved shipping activity through the Strait of Hormuz. South Korea's Kospi index soared, rebounding sharply from a brutal 7.89% collapse in the previous session, cheered by reports that South Korea's Ministry of Economy and Finance and the Ministry of Science and ICT plan to divert 5 trillion KRW in chip-industry tax revenue entirely into proprietary AI models and public computing infrastructure. Chinese shares gained, despite a private survey showed China's services activity eased less than expected in June. Meanwhile, Japanese shares gained after data showed Japan's services sector returned to growth in June despite rising costs.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,043.64

14.74

0.37

Hang Seng

23,350.03

295.00

1.28

Jakarta Composite

5,875.78

131.22

2.23

KLSE Composite

1,679.05

17.22

1.04

Nikkei 225

69,744.07

1,010.92

1.47

Straits Times

5,244.29

27.14

0.52

KOSPI Composite

8,088.34

440.25

5.76

Taiwan Weighted

46,780.62

36.46

0.08
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