Domestic equity benchmarks ended sharply higher on Thursday, extending gains for the second straight session, led by a strong rally in IT stocks. Sentiment was also supported by easing crude oil prices amid ongoing Iran-US peace talks. However, investors remained cautious as the rupee edged lower against the US dollar.

The Nifty settled above the 24,150 mark. Barring the Nifty IT index, all other sectoral indices on the NSE ended in the green, with IT, realty and consumer durables shares experienced the most gains.

As per provisional closing data, the barometer index, the S&P BSE Sensex gained 579.48 points or 0.75% to 77,502.12. The Nifty 50 index jumped 169.85 points or 0.71% to 24,175.70. In the two consecutive trading sessions, the Sensex rallied 1.33% while the Nifty jumped 1.29%.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index jumped 0.65% and the BSE 250 SmallCap Index surged 0.98%.

The market breadth was positive. On the BSE, 2,539 shares rose and 1,738 shares fell. A total of 190 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 7.21% to 12.29.

In the commodities market, Brent crude for Sep 2026 settlement fell 98 cents or 1.37% to $70.59 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.3450 compared with its close of 95.1650 during the previous trading session.

Economy:

India's fiscal deficit reached Rs 1.62 lakh crore in the first two months of FY27 (through May), accounting for 9.6% of the full-year budget target, up sharply from 0.8% a year earlier. Total receipts stood at Rs 7.19 lakh crore, while expenditure was Rs 8.81 lakh crore. Revenue receipts came in at Rs 6.99 lakh crore, including Rs 3.48 lakh crore in tax revenue and Rs 3.51 lakh crore in non-tax revenue.

New Listing:

Shares of CSM Technologies were at Rs 107.35 on the BSE, representing a discount of 5% as compared with the issue price of Rs 113.

The scrip was listed at 113, matching the initial public offer (IPO) price.

The stock has hit a high of Rs 113 and a low of Rs 107.35. On the BSE, over 0.47 lakh shares of the company were traded in the counter.

Initial Public Offer (IPO):

Knack Packaging received bids for 11,61,23,040 shares as against 1,89,64,018 shares on offer, according to stock exchange data at 15:45 IST on 02 July 2026. The issue was subscribed 6.12 times.

The issue opened for bidding on 01 July 2026 and it will close on 03 July 2026. The price band of the IPO is fixed between Rs 161 and 170 per share. An investor can bid for a minimum of 88 equity shares and multiples thereof.

Buzzing Index:

The Nifty IT index climbed 4.64% to 26,965.05. The index slumped 6.51% in the past four consecutive trading sessions.

Persistent Systems (up 5.93%), Infosys (up 5.77%), Mphasis (up 5.68%), Coforge (up 5.2%), Tech Mahindra (up 4.58%), HCL Technologies (up 4.48%), Tata Consultancy Services (up 4.45%), LTM (up 3.54%), Wipro (up 2.27%) and Oracle Financial Services Software (up 0.91%) advanced.

Auto sales

TVS Motor Company rallied 3.75% after the company recorded monthly sales growth of 47%, with sales of 590,003 units in June 2026 as against 402,001 units in June 2025.

Force Motors jumped 5.59% after reporting a 23.50% increase in total sales to 3,568 units in June 2026, compared with 2,889 units in June 2025.

Bajaj Auto shed 0.12%. The company reported a 28% increase in total auto sales to 4,63,202 units in June 2026, compared with 3,60,806 units sold in June 2025.

Maruti Suzuki India slipped 0.74%. The company reported a 19.28% jump in total sales to 2,00,390 units in June 2026 compared with 1,67,993 units in June 2025.

Stocks in Spotlight:

Bank of India rose 0.21%. The bank reported 16.58% rise in global business, which stood at Rs 17,55,915 crore as on 30 June 2026 as against Rs 15,06,142 crore as on 30 June 2025.

Dhanlaxmi Bank jumped 5.39% after the bank's gross advances increased 26.47% year-on-year (YoY) to Rs 15,785 crore as of 30 June 2026 from Rs 12,481 crore as of 30 June 2025.

Punjab & Sind Bank rose 1.55% after the bank reported a 19.50% year-on-year increase in gross advances to Rs 1,19,440 crore as of 30 June 2026, from Rs 99,950 crore a year earlier.

United Drilling Tools rallied 3.10% after the company secured a repeat domestic order worth Rs 3.88 crore from Vedanta for the supply of tubings, pup joints and crossovers in the ordinary course of business.

Capital Small Finance Bank added 2.10% after the bank's total deposits increased by 16.3% to Rs 10,596 crore as of 30 June 2026 from Rs 9,110 crore as of 30 June 2025.

Texmaco Rail & Engineering added 0.58%. The company said it has received two domestic orders for manufacture and supply of wagons and rakes worth Rs 351.16 crore.

Tamilnad Mercantile Bank advanced 2.46% after the private sector lender reported healthy business growth for the quarter ended 30 June 2026.

NMDC rose 1.54% after the company reported a 44.26% year-on-year (YoY) increase in iron ore production to 5.15 million tonnes (MT) in June 2026, compared with 3.57 MT in June 2025.

GK Energy added 1.96% after the company said it had secured a 10 MW rooftop solar project order worth Rs 48.02 crore.

Coal India rose 1.04% after the company announced that it has received a letter of award worth Rs 2,831.11 crore from Bundelkhand Saur Urja for setting up a 600 MW solar power project at Jalaun Solar Park in Uttar Pradesh.

Crompton Greaves Consumer Electricals advanced 2.10% after securing a domestic order worth Rs 29.77 crore from Maharashtra State Electricity Distribution Company (MSEDCL) for supply of 1,397 solar photovoltaic water pumping systems.

Global Markets:

European markets advanced on Thursday, as investors balanced hawkish commentary from global central bankers against regional economic indicators while awaiting a critical U.S. jobs report due later this week.

Asian markets ended mixed as caution prevailed ahead of key U.S. employment data, which could provide fresh clues on the Federal Reserve's monetary policy path. The muted sentiment followed overnight losses on Wall Street.

South Korea's Kospi led losses across Asian markets, plunging 7.36%, triggering a five-minute trading halt by the Korea Exchange after the benchmark breached the circuit-breaker threshold amid heightened market volatility.

Overnight on Wall Street, the Dow Jones Industrial Average scaled to a record high before cooling on Wednesday, while the Nasdaq Composite struggled amid declines in chipmakers.

The 30-stock average lost 13.96 points, or 0.03%, to close at 52,305.24. The S&P 500 dropped 0.22%, ending at 7,483.23. The Nasdaq Composite declined 0.66% to 26,040.03.

The tech-heavy index fell as investors dumped semiconductor names, taking profit after the swath of stocks surged more than 80% in the first half of 2026. Micron tumbled more than 10%, although it's still up more than 260% in the year to date. Sandisk also shed over 10%, but the stock is still toting an advance of more than 750% in 2026. Nvidia and Broadcom also fell roughly 1% and 2%, respectively, in the session.

Wall Street is now looking ahead to the June jobs report. As per media reports, the US economy is expected to have added 115,000 jobs last month.

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