03-Jul-2026      10:42

Sensex trades 508 pts higher; IT shares in demand

Domestic equity benchmarks advanced in the morning trade, tracking positive global cues after weaker-than-expected US jobs data reinforced expectations of a Federal Reserve interest rate cut at its upcoming policy meeting. Improved global risk sentiment lifted broad-based buying, with IT stocks leading gains on hopes of a more accommodative US monetary policy. The Nifty traded above the 24,300 level. IT shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 508.29 points or 0.66% to 78,010.41. The Nifty 50 index surged 173.60 points or 0.70% to 24,347.95.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.16% and the BSE 250 SmallCap Index gained 0.32%.

The market breadth was strong. On the BSE, 2,309 shares rose and 1,384 shares fell. A total of 234 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.54% to 11.98.

Buzzing Index:

The Nifty IT index jumped 1.70% to 27,423.55. The index surged 6.41% in two consecutive trading sessions.

HCL Technologies (up 4.1%), Persistent Systems (up 2.92%), Mphasis (up 2.91%), Coforge (up 1.91%), Oracle Financial Services Software (up 1.77%), Wipro (up 1.67%), LTM (up 1.20%), Tata Consultancy Services (up 1.02%), Infosys (up 0.23%) and Tech Mahindra (up 0.05%) advanced.

Stocks in Spotlight:

PC Jeweller rallied 3.64% after the company reported an approximately 21% year-on-year increase in consolidated revenue for the quarter ended 30 June 2026.

Mahindra & Mahindra Financial Services gained 4.35% after the company estimated the overall disbursement at approximately Rs 15,560 crore, YoY growth of around 21% (excluding finance lease).

Bajaj Finance added 1.23% after its new loans booked rose 20% year-on-year to 1.61 crore in Q1 FY27, compared with 1.35 crore in the corresponding quarter last year.

Angel One rose 1.23% after the company reported an 18.8% year-on-year (YoY) increase in its client base to 38.59 million in June 2026, compared with 32.47 million in June 2025.

Avenue Supermarts (Dmart) dropped 4.20%. The company reported a 15.13% jump in standalone revenue to Rs 18,343.49 crore in Q1 FY27 compared with Rs 15,932.12 crore posted in corresponding quarter last year.

HCL Technologies gained 4.26% after the company signed an agreement with a Europe headquartered, Fortune Global 50 Firm to transform their global digital workplace and enterprise networks using Artificial Intelligence (AI). 

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