Morning Brief: Nifty Climbs 0.39% to 24,270; FIIs Net Buy ₹1,355 Cr as Macro Cues Diverge | 06 Jul 2026, 08:16 AM IST
By ThePip Desk
Indian equities saw Nifty gain +0.39% to 24,270, supported by FII inflows of ₹1,355 crore. However, manufacturing growth is set to moderate, and services sector expansion slowed in June.
Nifty 50 advanced +0.39% to close at 24,270.85 on Friday, driven by renewed FII buying interest, while broader markets saw mixed performance. The session was influenced by a blend of positive global developments and domestic economic indicators pointing to a moderation in growth.
Market Snapshot
| Index | Last |
|---|---|
| Nifty 50 | 24,270.85 (+0.39%) |
| Nifty Bank | 57,938.50 (-0.16%) |
| NIFTY Midcap 100 | 62,190.30 (-0.19%) |
Institutional Flows
NSE FII & DII Activity (₹ Cr)
| Date | FII Net | DII Net |
|---|---|---|
| 2026-07-03 | +1,355.33 | -1,953.89 |
| 2026-07-02 | -311.82 | +1,784.40 |
| 2026-07-01 | -1,140.50 | +3,159.24 |
| 2026-06-30 | -2,556.75 | +6,842.34 |
| 2026-06-29 | -1,350.10 | +2,801.45 |
Foreign Institutional Investors (FIIs) turned net buyers on Friday, injecting ₹1,355.33 crore into Indian equities, reversing a trend of net selling seen earlier in the week. Domestic Institutional Investors (DIIs), however, were net sellers, pulling out ₹1,953.89 crore.
SEBI FII/FPI Flows (₹ Cr)
| Date | Equity Net | Debt Net |
|---|---|---|
| 2026-07-03 | +2,348.96 | +180.86 |
| 2026-07-02 | +140.22 | +2,474.86 |
| 2026-07-01 | -1,780.99 | +2,339.28 |
SEBI data shows FIIs were net positive in both equity and debt on July 3rd, with significant equity inflows of ₹2,348.96 crore and debt inflows of ₹180.86 crore. This follows a mixed trend earlier in the week, where debt flows remained robust even as equity saw some outflows.
Sector Performance
| Sector | Last |
|---|---|
| Nifty Realty | 890.80 (+2.19%) |
| Nifty IT | 27,439.40 (+1.76%) |
| Nifty Pharma | 25,745.15 (+1.72%) |
| Nifty Financial Services | 26,875.05 (+0.05%) |
| Nifty FMCG | 50,096.40 (+0.02%) |
| Nifty Auto | 26,988.10 (-0.44%) |
| Nifty PSU Bank | 8,407.60 (-1.54%) |
Realty, IT, and Pharma sectors led the gains, with Nifty Realty climbing +2.19%. Financial Services and FMCG also ended marginally in the green. Conversely, PSU Bank and Auto sectors were among the top losers, declining -1.54% and -0.44% respectively.
Top Movers
Nifty 50 Top Gainers
| Symbol | Company | Last |
|---|---|---|
| HCLTECH | HCL Technologies Ltd. | 1,139.00 (+5.65%) |
| MAXHEALTH | Max Healthcare Institute Ltd. | 1,153.40 (+2.31%) |
| APOLLOHOSP | Apollo Hospitals Enterprise Ltd. | 8,893.50 (+2.27%) |
| BAJAJFINSV | Bajaj Finserv Ltd. | 1,895.60 (+2.15%) |
| DRREDDY | Dr. Reddy’s Laboratories Ltd. | 1,374.10 (+2.11%) |
Nifty 50 Top Losers
| Symbol | Company | Last |
|---|---|---|
| AXISBANK | Axis Bank Ltd. | 1,342.10 (-1.50%) |
| M&M | Mahindra & Mahindra Ltd. | 3,136.90 (-1.21%) |
| SBIN | State Bank Of India | 1,040.00 (-1.10%) |
| LT | Larsen & Toubro Ltd. | 4,026.60 (-0.81%) |
| TECHM | Tech Mahindra Ltd. | 1,410.10 (-0.79%) |
Global Cues
India and Japan have unveiled a new economic partnership framework and a defence pact aimed at co-developing military hardware, signaling strengthening ties between the two nations. Separately, Finance Minister Nirmala Sitharaman is on a four-day visit to France to deepen economic cooperation and promote investment, with a focus on expanding bilateral opportunities across various sectors.
Economy & Macro
- Manufacturing growth in India is likely to moderate in Q1FY27 due to subdued business sentiment amid the ongoing West Asia crisis, according to a FICCI survey.
- India’s services sector saw slower growth in June, with the HSBC India Services PMI Business Activity Index easing to 57.4 from 59.8 in May, marking the lowest reading in 17 months.
- The government has accelerated its disinvestment and asset monetisation plan, raising about 31% of its full-year budgeted target in the first quarter of FY27 to support revenues.
- Crisil Ratings predicts that revenue growth for India’s specialty chemical manufacturers will slow to around 6% in FY27 from 8% in the previous two financial years, primarily due to weak exports.
Bond Market
Bond yields traded higher on Friday, with the yields on the new 10-year Government Stock rising.
IPO Watch
- IC Electricals Company Ltd.: The IPO is currently open for subscription, with a price band of ₹94-99. It opened on July 3rd and will close on July 7th. The issue has seen bids for 2.28 crore shares against 34.71 lakh shares on offer.
- Devson Catalyst Ltd.: This IPO is upcoming, with a price band of ₹112-118, opening on July 9th and closing on July 13th.
- Happy Steels Ltd.: Also upcoming, with a price band of ₹62-66, opening on July 9th and closing on July 13th.
- Functional & Innovative Foods, Pragyawan Technologies, and GNI Infrastructure have recently filed DRHPs with SEBI for their respective IPOs.
Corporate News
- Rubicon Research: The USFDA completed an unannounced inspection at its Pithampur facility, issuing a Form 483 with 2 observations.
- JSW Steel: The company has commenced development activities for its Rayalaseema Steel Project in Andhra Pradesh, aiming to set up a 2 Million Tonne Steel Plant.
- Tata Power: Its arm has commissioned the 100.8 MW Jewali Wind Project in Maharashtra, showcasing its execution capabilities in renewable energy.
- Poonawalla Fincorp Ltd. and Satin Creditcare Network Ltd. have issued business updates.
Despite FIIs turning net buyers, the moderation in manufacturing growth and a slowdown in the services sector suggest underlying economic headwinds that could temper market enthusiasm.
The robust FII equity inflows on Friday, coupled with strong debt flows, indicate a selective but continued interest from foreign investors in Indian assets, even as domestic institutions booked profits.