Stock market highlights today: Nifty gained 150 points, is the uptrend back on track – 1st July 2026

Indian equities opened the second half of 2026 on a firm note on Wednesday, with Sensex climbing over 600 points and Nifty 50 reclaiming the 24,000 mark, helped by buying in FMCG and realty stocks even as IT shares lagged. Gains came amid softer volatility, mixed Asian cues, lower crude around 73 dollars a barrel and lingering concerns over weak monsoon and US Iran tensions.

Market overview

Index	1 Jul 2026 Close (approx.)	Move & % Change	Comments
Sensex	77,110	+600 pts (approx. +0.8%)	Snapped two-day losing streak, led by consumption names.
Nifty 50	24,024 to 24,050 range	+150 pts (approx. +0.6%)	Closed back above 24,000, near 100-DMA resistance.
Nifty Midcap 100	approx. flat to +0.2%	up 0.2%	Underperformed large caps, modest gains only.
Nifty Smallcap 100	approx. flat to +0.2%	up 0.2%	Broader market participation remained limited.
India VIX	13.37 to 13.60	down about 2%	Volatility eased, supporting risk-on sentiment.

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

• Nifty snapped a two-session losing streak, closing near 24,050 intraday high.
• Total BSE market capitalisation rose by about ₹2.5 lakh crore to ₹477 lakh crore.
• On NSE, 1,914 stocks advanced, 1,258 declined and 94 were unchanged.
• Volatility gauge India VIX slipped toward 13.4, indicating calmer near-term expectations.

Key movers

Top gainers

Stock	Sector	Notable Factor
Eternal	FMCG / Consumer	Rallied over 4% and led Sensex gainers.
Asian Paints	Consumer	Rose around 3%, aided by defensive buying.
Adani Ports	Ports	Gained about 3%, supported frontline interest.
Hindustan Unilever	FMCG	Climbed near 3% on sector-wide strength.
Dabur	FMCG	Advanced more than 5% within FMCG basket.

• Nestle India, Emami and Godrej Consumer Products also rose around 3% each.
• Kotak Mahindra Bank, Titan, Mahindra & Mahindra, TCS and Trent gained up to 1% in early trade.

Top losers

Stock	Sector	Notable Factor
KPIT Technologies	IT / Engineering R&D	Slumped up to 16.2% intraday to ₹559.2 after weak Q1 FY27 update.
Tata Elxsi	IT	Fell as much as 7% after peer KPIT flagged revenue decline.
Coforge	IT	Dropped about 3.4% to ₹1,398.2 amid sector pressure.
Tech Mahindra	IT	Declined 2 to 3%, tracking broader IT weakness.
HCL Technologies	IT	Lost 2 to 3%, weighed on Nifty IT index.
Bajaj Finserv	Financials	Shed nearly 1% in early trade.
HDFC Bank	Financials	Also slipped close to 1% at open.

• KPIT guided for about 1% year-on-year decline in Q1 FY27 dollar revenue.
• KPIT cited sudden actions by some European OEMs after profit warnings and weak outlook.

Sectoral action

Sector / Index	Direction (approx.)	Key Drivers
Nifty FMCG	up more than 2%	Heavy buying in defensives, steady Q1 FY27 revenue trends.
Nifty Realty	up around 2%	Positive risk appetite, residential demand expectations.
Nifty Consumer Durables	up nearly 1%	Selective buying in discretionary names.
Nifty Auto	up (approx.)	Participation in cyclical and consumption plays.
Nifty Media	up (approx.)	Part of broader risk-on sentiment.
Nifty Metal	down nearly 1%	Profit-taking, cautious global growth sentiment.
Nifty IT	down nearly 1%	Dragged by KPIT-led selloff and weak guidance.
Bank and Financial indices	largely flat	Mixed moves in large lenders and NBFCs.

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

• FMCG rally was led by Dabur, Colgate-Palmolive, Nestle India, Emami, HUL and GCPL.
• Brokerage commentary pointed to steady FMCG revenue and support from lower crude derivatives.
• Realty, construction and cement stocks advanced, aiding the broader risk-on tone.
• Metals, chemicals, IT services and midcap healthcare capped index gains.

Technical outlook on Nifty

• Nifty faces resistance near its 100-day moving average (100-DMA) around 24,130.
• A decisive close above 24,130 is seen as confirmation of a meaningful breakout.
• Momentum indicators such as MACD remain in buy mode above the zero line.
• RSI holds above the 50 mark, indicating sustained bullish bias.
• The broader structure is described as constructive, favouring buy-on-dips.
• Key short-term support sits near the 21-DMA around 23,690.
• As long as Nifty sustains above 23,690, traders are advised to maintain a positive stance.

• “The broader technical structure remains constructive, and the buy on dips strategy remains intact as long as the index sustains above its short-term 21-DMA, placed at 23,690” said Nilesh Jain, VP and Head of Technical and Derivative Research at Centrum Finverse.

Global cues and commodities

Market / Asset	Movement	Notes
Dow Jones Industrial Average	+0.26%	Closed at record 52,319.20, strongest first half since 2022.
S&P 500	+0.79%	Logged biggest quarterly gain since 2020.
Nasdaq Composite	+1.52%	Tech and semiconductor stocks led gains.
Nikkei 225	approx. +0.6% to +1.8%	Extended rally on AI-related optimism.
Shanghai Composite	+0.44%	Added modestly, aiding regional sentiment.
Kospi	mixed, around -2% in one session	Volatile trade amid global tensions.
Brent crude	around $73.3–73.5	Up about 0.5 to 0.7%, but well below earlier $120 peak.
WTI crude	around $69.9–70.1	Up about 0.6 to 0.9%, tracking Iran headlines.

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

• Wall Street strength, especially in tech, supported risk appetite in Asia and India.
• GIFT Nifty traded near 23,994, signalling a muted to slightly negative open.
• Asian markets were mixed, with Japan and Korea higher and some indices flat.
• Oil stayed anchored near 73 dollars, easing concerns versus earlier triple-digit levels.

Macro risks: monsoon deficit and Iran tensions

Statistic / Risk	Value / Status	Context
June rainfall deficit	about 40%	IMD expects below normal July rainfall.
IMD monsoon forecast	about 90% of long-term average	Actual outturn may undershoot if deficit persists.
Brent crude level	above $73 per barrel	Reflects renewed concerns on US Iran tensions.

• Analysts flagged poor monsoon as a key overhang not fully priced by markets.
• Prolonged rainfall shortfall could weigh on rural demand and inflation expectations.
• Iran signalled it would not meet US envoys in the region, lifting crude modestly.
• Investors tracked the fragile ceasefire and risk of renewed escalation in West Asia.

• “Investors may fine tune portfolios to discount the potential negative fallout of poor monsoon” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
• He suggested partial rotation toward fixed income and monsoon-resilient sectors such as healthcare, pharmaceuticals, power and select defence stocks.

FAQs

Q: Why did Nifty rise above 24,000 despite weak IT stocks?

• Strong buying in FMCG, realty and consumption names offset weakness in IT and metals.
• Softer volatility, supportive global cues and lower crude around $73 also aided sentiment.

Q: What triggered the sharp fall in KPIT Technologies and other IT names?

• KPIT issued a Q1 FY27 update guiding about 1% year-on-year decline in dollar revenue.
• The company cited sudden cuts by some European OEM clients after profit warnings, which spooked investors and spilled over to peers like Tata Elxsi and Coforge.

Q: What key levels should traders watch on Nifty in the near term?

• Immediate resistance lies near the 100-DMA around 24,130.
• Short-term support is around the 21-DMA near 23,690.
• A close above 24,130 could signal a stronger uptrend, while holding 23,690 keeps buy-on-dips strategies in play.

Frequently Asked Questions

Why did Nifty rise above 24,000 despite weak IT stocks?

Strong gains in FMCG, realty and consumption stocks, along with softer volatility and supportive global cues, outweighed the drag from IT and metals, helping Nifty reclaim the 24,000 level.

What caused KPIT Technologies to drop over 16% intraday?

KPIT warned that its Q1 FY27 dollar revenue would decline about 1% year-on-year due to sudden cuts by some European OEM clients after profit warnings, which triggered a sharp selloff in the stock and pressure across the IT basket.

What are the key technical levels for Nifty in the short term?

Analysts highlight resistance near the 100-DMA around 24,130 and support at the 21-DMA near 23,690. A sustained move above 24,130 may confirm a breakout, while holding 23,690 keeps the buy-on-dips approach intact.