Closing Bell: Nifty Climbs Over 150 Points as IT Sector Leads Market Rally | 02 Jul 2026, 03:45 PM IST
By ThePip Desk
Indian equities closed higher on Thursday, with the Nifty 50 gaining +0.63% to 24156.00. Strong performance from the IT sector primarily drove the market’s upward momentum.
Indian equity benchmarks concluded Thursday’s session on a positive note, largely propelled by robust gains in the information technology sector. The Nifty 50 advanced by +150.15 points, or +0.63%, to close at 24156.00. Market breadth remained favourable, with 31 out of 50 Nifty constituents closing in the green, indicating broader participation in the rally.
Market Snapshot
| Index | Close | Change | Change% |
|---|---|---|---|
| Nifty 50 | 24156.00 | +150.15 | +0.63% |
| Nifty Bank | 57980.45 | −52.60 | −0.09% |
| NIFTY Midcap 100 | 62296.90 | +288.10 | +0.46% |
IT Sector Fuels Nifty’s Ascent
The Information Technology sector emerged as the day’s top performer, surging by an impressive +4.61%. This significant rally was underpinned by strong gains across major IT heavyweights. Infosys Ltd. led the charge, closing up +5.64% at ₹1040.9, following news of its strategic collaboration with Sentara and expanded partnership with GlobalFoundries. Tata Consultancy Services Ltd. (TCS) also saw substantial gains, rising +4.28% to ₹2067.5, after announcing a strategic IT partnership with Elopak ASA. Tech Mahindra Ltd. (TECHM) contributed to the sector’s strength, climbing +4.27% to ₹1420.4, on the back of its arm’s pact to acquire Alyis Servicos Tecnicos. HCL Technologies Ltd. and Wipro Ltd. also recorded gains of +4.21% and +2.27% respectively, reinforcing the sector’s dominance.
Other notable gainers included Bajaj Finserv Ltd., which advanced +3.18%, and Adani Ports and Special Economic Zone Ltd., up +1.91%.
Sectoral Overview and Underperformers
While IT led, other sectors like FMCG (+1.41%), Auto (+1.17%), Pharma (+0.55%), Realty (+0.45%), and Consumer Durables (+0.14%) also ended in positive territory. In contrast, the Nifty Bank index closed marginally lower by −0.09% at 57980.45, reflecting some pressure on financial stocks. The broader NIFTY Midcap 100 index, however, posted a healthy gain of +0.46%.
Among the Nifty 50 losers, Max Healthcare Institute Ltd. recorded the steepest decline, falling −1.13%. Larsen & Toubro Ltd. was down −0.84%, while Axis Bank Ltd. and Kotak Mahindra Bank Ltd. also registered declines of −0.58% and −0.52% respectively, contributing to the Nifty Bank’s subdued performance. Reliance Industries Ltd. also closed lower by −0.48%.
Institutional Activity
Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth −1140.5 crore during today’s session. This marks a consistent pattern of FII outflows observed over the past few trading days. Domestic Institutional Investors (DIIs), however, provided strong counter-support, injecting +3159.24 crore into the market, effectively cushioning the impact of FII selling and contributing to the overall positive close.
As the market looks towards Friday’s session, participants will closely monitor global cues and any further developments in institutional flow trends. The resilience shown by domestic investors continues to be a key factor in market stability.