Market Highlights: Nifty 50 Trades Above 24,400 as Banking Stocks Drive Mid-Session Gains | 06 Jul 2026, 02:00 PM IST
By ThePip Desk
Indian equities show strength mid-session with Nifty 50 trading at 24438.50, up +0.69%. Banking and auto stocks lead the charge, while IT faces selling pressure.
Indian equity markets are demonstrating a strong performance in the afternoon session on Monday, July 6, 2026, with major indices trading comfortably in positive territory. The Nifty 50 is currently holding above the crucial 24,400 level, reflecting a broad-based positive sentiment among investors. This mid-session rally sees significant contributions from frontline banking and auto stocks, while the IT sector faces some headwinds.
Major Indices Maintain Upward Momentum
The benchmark Nifty 50 is trading at 24438.50, marking a notable gain of +0.69%, which translates to an increase of +168 points. This upward trajectory indicates sustained buying interest. The Nifty Bank index is also witnessing robust activity, currently up +0.82%, adding a substantial +476 points to trade at 58414.90. This strong showing from the banking sector is a key driver for the broader market. Furthermore, the NIFTY Midcap 100 index is also participating in the rally, trading higher by +0.35% at 62407.80, having gained +218 points, indicating positive sentiment extending to mid-cap stocks as well.
| Index | Current Level | Change (Points) | Change (%) |
|---|---|---|---|
| Nifty 50 | 24438.50 | +168 | +0.69% |
| Nifty Bank | 58414.90 | +476 | +0.82% |
| NIFTY Midcap 100 | 62407.80 | +218 | +0.35% |
Individual Stock Performance: Gainers and Losers
The market’s positive momentum is clearly visible in the performance of individual stocks, particularly within the Nifty 50. Several key players are driving the gains, while a few are experiencing profit booking. HDFC Bank Ltd. (HDFCBANK) stands out as the top gainer, trading at ₹829.7, up a significant +3.58%, adding +28.65 points. This strong performance from a banking heavyweight is contributing substantially to the Nifty’s overall rise. Following HDFC Bank, Hindalco Industries Ltd. (HINDALCO) is also performing well, trading at ₹979.35, with a gain of +2.74%, or +26.15 points. Oil & Natural Gas Corporation Ltd. (ONGC) is also seeing upward movement, trading at ₹243.51, up +2.38% or +5.67 points. In the auto sector, Bajaj Auto Ltd. (BAJAJ-AUTO) is trading at ₹9998, higher by +2.17% (+212.50 points), and Mahindra & Mahindra Ltd. (M&M) is also in the green, trading at ₹3200.1, up +2.01% (+63.20 points).
Top 5 Gainers in Nifty 50
| Company | Current Price (₹) | Change (Points) | Change (%) |
|---|---|---|---|
| HDFC Bank Ltd. (HDFCBANK) | 829.7 | +28.65 | +3.58% |
| Hindalco Industries Ltd. (HINDALCO) | 979.35 | +26.15 | +2.74% |
| Oil & Natural Gas Corporation Ltd. (ONGC) | 243.51 | +5.67 | +2.38% |
| Bajaj Auto Ltd. (BAJAJ-AUTO) | 9998 | +212.50 | +2.17% |
| Mahindra & Mahindra Ltd. (M&M) | 3200.1 | +63.20 | +2.01% |
Conversely, some stocks are facing downward pressure. Kotak Mahindra Bank Ltd. (KOTAKBANK) is currently the biggest laggard, trading at ₹382.05, down −3.71%, which accounts for a decline of −14.70 points. The IT sector is broadly weaker, with Tata Consultancy Services Ltd. (TCS) trading at ₹2059.7, down −1.61% (−33.80 points). Bajaj Finserv Ltd. (BAJAJFINSV) is also in the red, trading at ₹1869.8, down −1.36% or −25.80 points. Other IT majors, Wipro Ltd. (WIPRO) and Infosys Ltd. (INFY), are also experiencing declines, with Wipro trading at ₹174.05, down −1.15% (−2.03 points), and Infosys at ₹1036.1, down −1.06% (−11.10 points).
Top 5 Losers in Nifty 50
| Company | Current Price (₹) | Change (Points) | Change (%) |
|---|---|---|---|
| Kotak Mahindra Bank Ltd. (KOTAKBANK) | 382.05 | −14.70 | −3.71% |
| Tata Consultancy Services Ltd. (TCS) | 2059.7 | −33.80 | −1.61% |
| Bajaj Finserv Ltd. (BAJAJFINSV) | 1869.8 | −25.80 | −1.36% |
| Wipro Ltd. (WIPRO) | 174.05 | −2.03 | −1.15% |
| Infosys Ltd. (INFY) | 1036.1 | −11.10 | −1.06% |
FII and DII Activity Overview
Looking at the institutional activity from the previous trading session on July 3, 2026, Foreign Institutional Investors (FIIs) demonstrated a positive stance, recording net purchases of +1,355.33 crore. This inflow suggests continued confidence from foreign investors. Conversely, Domestic Institutional Investors (DIIs) were net sellers, offloading equities worth −1,953.89 crore. This divergence in institutional flows indicates a dynamic market environment.
Overall, the Indian equity market is exhibiting a positive bias during the mid-session, with key indices and several blue-chip stocks showing upward momentum, despite some sector-specific weaknesses.