Market opens higher in early trade; Nifty trades above 24,350 mark
At 09:30 IST, the barometer index, the S&P BSE Sensex, jumped 564.41 points or 0.73% to 78,056.74. The Nifty 50 index surged 182.40 points or 0.76% to 24,359.20.
In the broader market, the BSE 150 MidCap Index rose 0.07% and the BSE 250 SmallCap Index rallied 0.32%.
The market breadth was strong. On the BSE, 2,057 shares rose and 993 shares fell. A total of 178 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.19% to 12.02.
Foreign portfolio investors (FPIs) sold shares worth Rs 311.82 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,784.40 crore in the Indian equity market on 02 July 2026, provisional data showed.
Stocks in Spotlight:
Mphasis advanced 2.81% after the company said that its board has approved the re-appointment of Nitin Rakesh as the company's chief executive officer and managing director for a further term of five consecutive years.
RailTel Corporation rose 0.14%. The announced that it has secured a Rs 16.20 crore contract from the Haryana State Electronics Development Corporation for the management of the Haryana State Wide Area Network (HSWAN).
Ramco Systems added 0.69%. The company announced the appointment of Raghuveer Sandesh Bilagi as its Chief Executive Officer.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.07% to 6.718 as compared with previous close 6.713.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3100 compared with its close of 95.3550 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement jumped 1.31% to Rs 147,665.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 100.57.
The United States 10-year bond yield fell 0.29% to 4.465.
In the commodities market, Brent crude for September 2026 settlement gained 41 cents or 0.57% to $72.21 a barrel.
Global Markets:
Asian markets advanced on Friday after a lukewarm U.S. jobs report poured cold water on the prospect of an imminent rate hike from the Federal Reserve and regional activity gauges pointed to an economic expansion during June.
Purchasing Managers' Index (PMI) data released on Friday indicated increased activity across the region.
Japan's services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. The S&P Global final Japan Services Purchasing Managers' Index (PMI) rose to 52.2 in June from 50.0 in May, signalling a renewed rise in business activity.
Meanwhile, China's services activity expanded at a slightly slower pace in June as growth in new business eased, though overseas demand rose at the fastest rate in 20 months, a private-sector survey showed on Friday. The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, staying above the 50-mark that separates expansion from contraction.
Overnight on Wall Street, the Dow Jones Industrial Average scaled to record highs on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the Nasdaq Composite languished as semiconductors struggled once again.
The US economy added 57,000 jobs in June 2026, significantly below both the downwardly revised 129,000 recorded in May and market expectations of 110,000. It marks the weakest monthly job growth in four months, ending a streak of three consecutive months of stronger-than-expected gains.
The 30-stock average added 594.83 points, or 1.14%, for a record close of 52,900.07. The index hit a new all-time intraday high of 52,903.85. The S&P 500 rose less than 1 point to end at 7,483.24, while the Nasdaq dropped 0.8% to 25,832.67.
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