NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on July 2

The Indian equity benchmarks are set to stage a gap up opening on Thursday, July 2, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Gandhinagar surged 97 points or 0.4% to 24,190 despite weak cues from Asian markets.

The Indian equity benchmarks snapped their two-day losing streak to end higher on Wednesday supported by strong gains in FMCG, auto, and realty stocks.

At close, the S&P BSE SENSEX settled at the 76,922.64 level, rising 443.97 points, or 0.58%, while the NSE's NIFTY50 index jumped 140.85 points, or 0.59%, to end at the 24,005.85 level.

During the intraday session, the SENSEX and NIFTY50 touched intraday highs of 77,110.08 and 24,049.90 levels, respectively.

Asian markets

Most of the Asian markets were trading lower as a fresh global selloff in artificial intelligence (AI) shares raised concerns over AI infrastructure spending.

South Korea's KOSPI index plunged as much as 7%, Japan's Nikkei dropped 1% and China's Shanghai Composite declined 0.63%

Wall Street update

US stocks ended lower on Tuesday dragged down by losses in technology shares.

The Dow Jones Industrial Average settled flat at 52,305.24, down 0.027%. The S&P 500 fell 0.22%, while the NASDAQ composite declined 0.66%.

Earlier in the day, Federal Reserve Chairman Kevin Warsh declined to comment on the central bank's move at its rate-setting meeting later this month. However, he noted that prices were "too high", but inflation risks have come down. Warsh said that the Fed's primary objective is to deliver price stability and refrained from giving any forward guidance.

FII/DII activity

Foreign institutional investors (FII) sold shares worth ₹1,140.50 crore on Wednesday while domestic institutional investors bought stocks worth ₹3,159.24 crore, as per NSE data.

FIIs have so far this year sold shares worth ₹2,76,053 crore, data from National Securities Depository Limited (NSDL) showed.

Crude oil update

Crude oil prices declined for a second straight session on Thursday as talks between United States and Iran progressed easing concerns about potential disruptions to crude supplies in the Middle East.

Qatar said indirect talks between Iran and the US had made positive progress during negotiations in Doha that concluded on Wednesday, The Economic Times reported.

Brent crude futures dropped as much as 2% to $70.

Stocks to watch

The new Andhra Pradesh Bhavan will have a total built-up area of nearly 2.5 lakh sq ft.

In a statement on Wednesday, the company said it has signed an MoU with the Government of Andhra Pradesh for the "planning, design, and construction" of the new Andhra Pradesh Bhavan in New Delhi at an estimated project cost of ₹105.5 crore.

The cost excludes GST and PMC (project management consultancy) charges.

Responding to questions from shareholders at the Tata Group-owned IHCL's annual general meeting (AGM) on Tuesday, he also shared that the flagship luxury property, Taj Bandstand, coming up in Mumbai, will span 50 floors and have 500 rooms, with a capex of around ₹2,000 crore.

"We hope it will be an iconic property," Chandrasekaran said on the upcoming Taj Bandstand property.

Laying out IHCL's capex strategy to fuel expansion, he said, "Over the next five years, the company will spend as per the current plan, between ₹6,000 crore and ₹7,500 crore in terms of capex."

IHCL is the country's largest hospitality player.

The ratings agency said that operating costs and key raw materials, including pet coke, coal, diesel and packing materials, increased during the quarter, adversely impacting the sector's margins.

"The cement industry is likely to witness a decline in profitability in 1QFY27, given the increase in key input costs, including pet coke, coal, diesel, and packing material. While some price hikes were taken by industry players, it is unlikely to be sufficient to cover the increase in production costs," it said.

The funds are likely to be raised in one or more tranches, subject to necessary approvals, including those from the company’s shareholders and relevant regulatory or statutory authorities, Adani Energy said.

The company will hold an Extraordinary General Meeting (EGM) on Saturday, July 25, 2026, to seek shareholders’ approval for the proposed issuance.

The company is setting up its second global parts centre (GPC 2.0) at Tirupati at an investment of Rs 750 crore that will also help in enhancing its accessories and merchandise business besides augmenting supplies of parts in other global markets, Munjal said in a select media interaction.

The foundation stone for its GPC at Tirupati was laid on Wednesday. This will be the company's second GPC after its first GPC at Neemrana in Rajasthan.

The agreement was signed on June 30 at the Tata Group's headquarters in the financial capital, and the two partners reaffirmed their commitment to advancing technical excellence, digital innovation, and long-term growth, Tata Technologies said in a statement.

"The collaboration also reflects a long-term strategic commitment, with Tenneco expected to make an investment of over USD 100 million in this engagement over the next five years," the statement said.

The project has been awarded to CIL by Bundelkhand Saur Urja Ltd -- a joint venture of NHPC Ltd and Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).

The solar power plant will be set up in Jalaun Solar Park in Uttar Pradesh, Coal India Ltd (CIL) said in a filing to the BSE.

The project, which comprises two 300 MW units, with electricity supplied at ₹2.73 per kWh, will be executed within 18 months from the signing of the power purchase pact, the filing said.

Coal India accounts for over 80% of the country's coal output.

The QIP comprised a primary issuance of securities worth ₹6,555 crore, with the balance being raised through an offer-for-sale (OFS) by the promoter selling shareholder, JSW Infrastructure said in a regulatory filing.

“JSW Infrastructure has successfully completed a landmark ₹7,503 crore Qualified Institutions Placement (QIP), marking the first transaction in India to combine a primary issuance and an offer-for-sale by a promoter selling shareholder within a single QIP structure,” the company said.

The transaction enabled the company to raise growth capital to support its ₹39,000 crore multi-year capital expenditure programme, facilitate compliance with minimum public shareholding requirements and significantly broaden its institutional shareholder base through the induction of several marquee global and domestic investors.

According to a regulatory filing dated July 1, the company’s total revenue from operations during the quarter under review stood at ₹1,089 crore, marking a 23% year-on-year (YoY) growth from ₹885 crore in the April-June quarter of the 2025-26 financial year (Q1 FY26).

It recorded over a 9% YoY increase in its same-store sales growth (SSSG) in the June quarter of FY27, with V-Mart at over 8% and Unlimited at more than 13%.

During Q1 FY27, the company opened 15 stores and closed one store, resulting in a total operating portfolio of 591 stores as of June 30, 2026.

The company also posted 7.5% same-store sales growth (SSSG), supported by its data-driven merchandise strategy, improved product assortment, higher sell-through, and lower markdowns, helping maintain margin discipline.

Trade setup

The NIFTY50 bounced back from lower levels on Wednesday, led by heavyweights like Reliance, SBI and M&M. The index crossed the crucial benchmark of 24,000 after defending the 20 and 50 EMA levels. The bullish crossover setup of the 20 EMA crossing the 50 EMA from below remains intact, suggesting a revival in momentum above the 24,200 level.

The sharp bounce back on Wednesday has made significant changes in the open interest data for the coming weekly expiry. 24,100, 24,200, and 24,300 calls witnessed strong unwinding of open interest, indicating a short-covering rally above 24,250 levels. On the flip side, 24,000 puts hold the highest open interest, suggesting strong support for NIFTY50.