Nifty Nears 24,100, Sensex Gains 300 Points as IT Stocks Rebound

On July 2, 2026, Indian shares rallied strongly. The Nifty 50 was at 24,100 and Sensex rocketed almost 300 points. IT stocks had a particularly strong rally and crude oil prices and global mood were the drivers of the surge in shares.

The Nifty climbed 119 points or 0.5% to 24,124.95, while the Sensex gained 392 points or 0.51% to 77,314.32. IT companies were leading the way with Infosys, HCLTech, TCS, and Tech Mahindra up 2-4%. And Adani Enterprises, Bajaj Finserv, Kotak Mahindra Bank and Titan were up as well. NTPC, BEL, Power Grid and Bharti Airtel were down.

Global cues also fueled investors' confidence. Brent crude slipped below $71 per barrel, easing inflationary fears for India and improving oil prices in oil prices and progress in US‑Iran talks in Doha reduced the risk of political unrest in Doha reduced uncertainty over the world’s trade as oil prices and diplomacy were in favour of India. Indian rupee was in a 94.35-94.90 range as oil prices remained stable but the dollar rose against the dollar and the Indian currency was stronger than a previous session.

IT stocks were the best performing among the sectors with Nifty IT index gaining almost 4%. Realty and consumer durables also performed well, reflecting healthy domestic demand. Banking stocks rallied more than 350 points with Canara Bank, Indian Bank and HDFC Bank leading the way. PSU banks slipped in the sector with a slight divergence but still in good shape.

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The other markets were also up as well, with midcap and smallcap indices on a positive trend with a margin of 0.3-0.4%, the India VIX fell 2.8%, showing less volatility and investor anxiety. There were also IPO activity going on since Knack Packaging’s IPO entered its second day of subscription and a few SME IPOs are closing.

Finally, the Indian stock market is buoyant with Nifty at 24,100 and Sensex at almost 300 points. A recovery in IT stocks, lower oil prices and positive global signals have also helped investors feel good. However, 23,800 is still a critical support level for Nifty and resistance is expected to be around 24,200–24,300 in the upcoming sessions.