Indian Markets Rise on IT, US Data
Analysis based on 7 articles · First reported Jul 03, 2026 · Last updated Jul 03, 2026
The Indian equity markets, represented by the S&P BSE Sensex and NIFTY 50, extended their gains for the third consecutive day, primarily driven by a rally in IT stocks and expectations of the United States — Federal Reserve maintaining interest rates due to softer US labor data. This positive sentiment was further supported by favorable global cues and softening crude oil prices, which are key macro tailwinds for India's inflation outlook and economic stability.
Indian benchmark equity indices, the S&P BSE Sensex and NIFTY 50, closed higher on Friday, July 3, 2026, marking their third consecutive day of gains. The S&P BSE Sensex climbed 261.79 points to 77,763.91, while the NIFTY 50 rose 95.15 points to 24,270.85. This rally was fueled by strong performance in IT stocks, with HCLTech surging 5.79% and Mahindra & Mahindra climbing 1.81%. The positive sentiment was also attributed to softer-than-expected US jobs data, which tempered expectations of near-term monetary tightening by the United States — Federal Reserve. Additionally, positive outcomes from the India-Japan Summit and softening crude oil prices contributed to the market's upward trend. Asian markets like South Korea's KOSPI, Japan's Nikkei 225, Shanghai's Shanghai Stock Exchange Composite Index, and Hong Kong's Hang Seng Index also ended in positive territory, while US markets showed a mixed performance with the Dow Jones Industrial Average surging and the Nasdaq Composite declining.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard