Stock Market Highlights Today: Nifty holds 24,000, trend stays cautious – 30th June 2026

Indian equities ended a volatile Tuesday session largely flat, with the Nifty 50 hovering near 24,000 and the Sensex around 77,000, as strength in autos and PSUs offset sustained weakness in IT stocks that dragged the Nifty IT index to a fresh 52-week low.

Market Overview

Index	30 Jun 2026 Close (approx.)	Move & % Change	Comments
Sensex	76,676	-52 pts (-0.07%)	Gave up early gains, closed marginally lower.
Nifty 50	23,928	-19 pts (-0.08%)	Failed to hold morning move above 24,000.
Bank Nifty	57,673	-54 pts (-0.09%)	Financials under mild pressure intraday.
Nifty Midcap 100	approx. up 0.5%	+0.5%	Broader markets outperformed large caps.
Nifty Smallcap 100	approx. up 0.5%	+0.5%	Continued relative strength versus Nifty 50.
India VIX	13.47	-1%	Volatility gauge eased, signalling contained near-term fear.

Note: figures are approximate; final exchange data not available at time of publication.

• Nifty traded in a tight band around 23,900–24,000 through the session.
• Sensex briefly crossed 77,000 in early trade before slipping.
• Advance decline on NSE stood at 1,525 advancers vs 741 decliners.
• Volatility stayed moderate with India VIX near 13.5.

Sectoral Action

Sector/Index	Direction (approx.)	Key Drivers
Nifty IT	down over 2%	Global tech weakness, US rate worries, AI disruption concerns.
Nifty Auto	up	Buying in autos, Maruti Suzuki up about 3%.
Nifty PSU Bank	up 0.40%	Support from stable yields and domestic flows.
Nifty Oil & Gas	up 0.45%	Benefit from stabilising crude and rupee.
Nifty Metal	down 0.3%	Profit booking amid mixed global cues.
Nifty Realty, Pharma	up	Defensive and domestic themes saw interest.

Note: figures are approximate; final exchange data not available at time of publication.

• Sectoral breadth was mixed, with cyclicals and defensives both seeing stock specific moves.
• IT remained the clear underperformer, weighing on headline indices.

Key Movers

Top Gainers (selected large caps)

Stock	Sector	Notable Factor
Maruti Suzuki India	Auto	Rose around 3%, led Sensex gains ahead of monthly sales data.
Sun Pharma	Healthcare	Gained over 1%, supported by defensive positioning.
Adani Ports & SEZ	Ports & logistics	Advanced over 1%, part of Nifty 50 gainers list.
Ola Electric Mobility	Auto / EV	Jumped up to 11.3% on Delhi EV policy approval.
Ather Energy	Auto / EV	Gained nearly 10% intraday on same EV policy tailwind.

Note: figures are approximate; final exchange data not available at time of publication.

• Ola Electric hit an intraday high of ₹44.95, trading 8.6% higher near ₹43.87 at 1 pm.
• The stock has now doubled from its all time low of ₹22.25.
• Delhi’s new EV policy is expected to attract ₹15,000 crore investments over four years.

Top Losers (selected large caps)

Stock	Sector	Notable Factor
Infosys	IT services	Fell over 2%, part of Nifty IT slide to 52-week low.
Tata Consultancy Services (TCS)	IT services	Declined more than 2%, hit multi year low.
Wipro	IT services	Dropped over 2%, under pressure from global tech concerns.
LTIMindtree	IT services	Led IT losses, down about 2.5%.
HCLTech	IT services	Fell around 1.5%, tracking sector weakness.

Note: figures are approximate; final exchange data not available at time of publication.

• Infosys, Hindustan Unilever, NTPC, Kotak Mahindra Bank and Axis Bank traded with marginal losses on Sensex.
• IT constituents across the board remained in the red.

Nifty IT: Fresh 52-week Low, Technical Stress

Statistic	Value/Change	Context
Nifty IT index level	26,425.85 (intraday low)	Fresh 52-week low, near April 2023 troughs.
Drawdown from all time high	down ~42%	From 46,089 peak in Dec 2024.
Year to date move	down about 28%	Persistent underperformance versus broader market.
Key support zone	26,100–26,200	Long term demand area from 2022–2023 rebounds.
Key resistance zone	27,950–28,000	Needs reclaim for any durable trend reversal.

Note: figures are approximate; final exchange data not available at time of publication.

• Selling in IT was driven by US rate uncertainty and slower discretionary tech spending.
• Investors remain cautious after Accenture’s softer outlook on consulting and digital projects.
• Rapid AI adoption is seen as both opportunity and execution risk for Indian IT firms.
• Derivatives data showed fresh short build up in eight of 12 Nifty IT constituents.
• Only Coforge and TCS saw fresh long build up, with Coforge showing relative strength.

• “The 26,100–26,200 zone remains a crucial long term support area, and a decisive breach could trigger another round of selling” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.

• Anshul Jain of Lakshmishree flagged 26,189 as a key support marking the lowest level in nearly four years.

Nifty Technical Outlook and Options Positioning

Statistic	Value/Change	Context
Key Nifty support	23,800	Short term trend constructive above this level.
Immediate resistance	24,200	Cap for near term upside as per technical view.
ATM option premium	₹373	Implies weekly range 23,650–24,250.
Highest Call OI	24,000, then 24,100	Overhead resistance zones for Nifty.
Highest Put OI	23,500, then 24,000	Support levels on downside.

Note: figures are approximate; final exchange data not available at time of publication.

• Volatility may stay elevated around monthly expiry, but bias remains positive above 23,800.
• “Unless the Nifty falls below 23,800, a buy on dips strategy should be maintained” said Rupak De, Senior Technical Analyst at LKP Securities.

Suggested Nifty Options Strategy (7 July 2026 expiry)

• Recommended structure: Bull Call Spread on Nifty 50.
• Buy 1 lot 24,000 Call at ₹160–₹180.
• Sell 1 lot 24,300 Call at ₹55–₹75.
• Break even level: 24,108.
• Maximum potential risk: ₹6,988 per spread.
• Maximum potential reward: ₹12,511 per spread.

• Axis Securities expects a moderately bullish view, with controlled risk reward via the spread.

Broader Earnings And Market Outlook

• FY26 Nifty EPS growth printed at 4.5%, below earlier expectations of 12–15%.
• This marked the second straight year of consensus earnings disappointment.
• Nifty 50 companies’ adjusted net profit grew 4.5% YoY in Q4FY26.
• Their share in India Inc earnings fell to 47.1%, lowest in 21 quarters.
• In contrast, net profit of 3,081 listed companies grew 15.1% YoY in Q4FY26.

• Rahul Ghose of Octanom Tech and Hedged.in cautioned that Nifty 50 could deliver marginally negative returns in 2026.
• He sees meaningful earnings improvement more likely from Q3FY27, assuming subdued crude, normal monsoon and consumption recovery.

• “What 2026 is building is the foundation for the next meaningful leg up” said Ghose, highlighting broader market earnings strength.

• TCS will kick off IT Q1FY27 results on 9 July, with management commentary expected to drive sector sentiment.

Policy And Thematic Tailwinds: Delhi EV Push

• Delhi Cabinet approved a new EV policy effective 1 July 2026.
• Registration of new ICE two wheelers will cease from 1 April 2028.
• Only electric two wheelers will be eligible for registration thereafter.
• Buyers of electric two wheelers will receive a ₹30,000 subsidy in the first year.
• Only electric auto rickshaws will be registered from 1 January 2027.
• Electric three wheeler buyers will get a ₹50,000 subsidy.
• Hybrid vehicles will not be eligible for incentives.
• The policy is expected to draw ₹15,000 crore investments over four years.

• Ola Electric’s next triggers are June sales data on 1 July and Q1FY27 results in August.

FAQs

Q: Why did Nifty IT fall sharply today?

• Persistent concerns over US interest rates, slower discretionary tech spending, global tech stock weakness and uncertainty around AI led business models weighed on Indian IT services stocks, pushing Nifty IT to a fresh 52-week low near 26,426.

Q: What is the near term trading range indicated for Nifty 50?

• With the at the money option premium around ₹373 and heavy open interest at 24,000 Calls and 23,500 Puts, analysts expect Nifty to trade roughly between 23,650 and 24,250 for the week, with 23,800 as key support and 24,200 as immediate resistance.

Q: How does Delhi’s new EV policy impact listed stocks?

• The policy accelerates the shift from ICE to electric two and three wheelers in Delhi, offers upfront subsidies, and is projected to attract ₹15,000 crore of investments, which boosted sentiment in EV focused stocks such as Ola Electric and Ather Energy, both rallying sharply during the session.

Frequently Asked Questions

Why did Nifty IT hit a 52-week low on 30 June 2026?

Persistent concerns over US interest rates, weaker discretionary tech spending, global technology stock weakness and uncertainty about AI led disruption drove broad based selling in Indian IT services names, pushing the Nifty IT index to a fresh 52-week low near 26,425.

What options strategy was recommended for Nifty 50 for the 7 July 2026 expiry?

Analysts suggested a Bull Call Spread, buying a 24,000 strike Call at ₹160–₹180 and selling a 24,300 strike Call at ₹55–₹75, with a break even around 24,108, maximum risk of ₹6,988 and maximum reward of ₹12,511.

How did the new Delhi EV policy influence Ola Electric’s share price?

After Delhi approved an EV policy that phases out new ICE two wheeler registrations and offers subsidies for electric two and three wheelers, Ola Electric shares jumped up to 11.3 percent intraday, extending a recovery that has seen the stock double from its all time low.