Markets open in green after two-day losing streak; Sensex up 160 points, Nifty opens higher at 23,897
Mumbai, July 1
The Indian equity markets opened in the positive territory on Wednesday after two straight sessions of losses, even as concerns persisted over a potential escalation in the US-Iran conflict and weaker-than-expected monsoon progress.
Sensex opened higher at 76,545.21 as against the previous close of 76,478.67, while Nifty opened at 23,897.65, slightly above the previous close of 23,865.75.
At the time of writing this article, Sensex was trading in the green, at 76,641.95, up 163.28 points or 0.21 per cent, while Nifty was trading at 23,916.20, up 50.45 points or 0.21 per cent.
On BSE, Eternal, Titan, Hindustan Unilever, Infosys, TCS, Reliance, Maruti, ITC, Axis Bank, Bharti Airtel, Indi Go, among others, were the major gainers. Meanwhile, NTPC, Trent, SBI, HCL Tech, Bajaj Finance, among others, were the major losers.
Sector wise, major industries started the session in the green with Nifty Media emerging as the top gainer, surging over a per cent. At the same time, all the sectors in the Nifty Broad Market were trading in the green. India Vix was seen trading at 2.38 per cent at the time of writing this article.
Rupee opened flat at 94.66 per USD. In the commodity market, Gold prices extended their decline after hitting a seven-month low in the previous session, as weakening expectations of a lasting US-Iran peace deal stoked inflation concerns and strengthened bets on further Federal Reserve rate hikes. Spot gold was down 0.6 per cent at USD 3,981.69 per ounce, as of 0112 GMT.
Brent crude was trading at USD 73.29 per barrel at the time of writing this article.
Ajay Bagga, banking and market expert, noted, "As we enter the final six months of the year, the macro matrix is rotating. The sharp correction in oil prices back to pre-conflict levels provides a massive fiscal cushion for import-dependent nations like India, paving the way for a potential corporate margin expansion in the upcoming quarters."
As per the analyst, "The first half of 2026 has drawn to a close, leaving behind a fascinating tale of two macro realities. While global markets--spearheaded by a relentless, AI-fueled bull run in the United States--surged to historic highs, Indian equities faced a harsh, wintery period of consolidation and foreign capital flight. A dramatic geopolitical flashpoint in the Middle East early in the year sent oil prices spiking toward $153 a barrel, introducing sharp volatility across asset classes. As those structural supply-chain threats begin to moderate at mid-year, a clear divergence remains between AI and US optimism and India's valuation resets."
— ANI
Reader Comments
Interesting to see Indian markets bouncing back. The analyst's comment about "valutation resets" is a sensible take - Indian stocks got too expensive earlier. Maybe this correction is healthy in the long run. But $153 oil earlier this year was scary for everyone globally.
A small recovery is welcome but I wish the government would focus more on monsoon preparedness. When agriculture suffers, it eventually hits the market. Also, gold dropping so much is sad for my mom's jewelry collection! 😅 But yes, lower oil prices are definitely helping our economy breathe easier.
Not convinced by this bounce. Retail investors are being lured into buying at these levels while FIIs are still selling. India Vix at 2.38% suggests volatility is still high. Better to stay cautious and wait for clearer signals - maybe after the monsoon update and US Fed decision next week.
It's heartening that Sensex is hanging in there despite the global headwinds. The rupee holding steady at 94.66 is also positive. India's fundamentals remain strong with domestic consumption driving growth. Let's hope the markets reflect that strength soon. Go India! 🇮🇳
My portfolio is still bleeding from the past week! This small green is just emotional relief, not a recovery. The fact that NTPC and SBI are among losers shows the broader market is still weak. Until we see consistent buying across sectors, I'm staying on the sidelines. Patience hi patience abhi.
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