Morning Brief: Nifty Dips 0.34% to 23,865; FIIs Sell ₹2,556 Cr, IT Sector Drags | 01 Jul 2026, 08:15 AM IST
By Sivam
Indian equities saw a second consecutive day of declines, with the Nifty 50 closing at 23,865.75, down 0.34%. Foreign institutional investors remained net sellers, while the IT sector faced significant pressure. Midcaps, however, showed resilience.
Indian equity benchmarks extended their decline for a second straight session on Tuesday, with the Nifty 50 closing at 23,865.75. Selling pressure in IT and FMCG stocks, coupled with continued foreign fund outflows and global uncertainties, weighed on market sentiment. The broader Nifty Midcap 100, however, managed to post gains.
Market Snapshot
| Index | Last |
|---|---|
| NIFTY | 23,865.75 (-0.34%) |
| BANKNIFTY | 57,542.90 (-0.32%) |
| NIFTYMIDCAP | 61,797.70 (+0.37%) |
Institutional Flows
Foreign Institutional Investors (FIIs) remained net sellers in the cash market on June 30, offloading equities worth ₹2,556.75 crore. Domestic Institutional Investors (DIIs), however, provided significant support by being net buyers of ₹6,842.34 crore. Broader FII activity, as per SEBI data, showed net equity investments of ₹2,115.6 crore and net debt investments of ₹2,154.76 crore on June 30.
| Date | FII Net (₹ Cr) | DII Net (₹ Cr) |
|---|---|---|
| 2026-06-30 | -2,556.75 | 6,842.34 |
| 2026-06-29 | -1,350.10 | 2,801.45 |
| 2026-06-25 | 383.76 | 5,747.75 |
| 2026-06-24 | -1,843.40 | 3,637.26 |
| 2026-06-23 | 17.86 | 680.21 |
Sector Performance
Nifty IT was the biggest drag, witnessing a significant decline. Realty, Pharma, and Auto sectors, however, showed positive momentum.
| Sector | Last |
|---|---|
| Nifty Realty | 829.55 (+1.31%) |
| Nifty Pharma | 25,326.40 (+0.39%) |
| Nifty Auto | 26,479.80 (+0.24%) |
| Nifty Financial Services | 26,554.55 (-0.16%) |
| Nifty FMCG | 48,794.20 (-0.68%) |
| Nifty PSU Bank | 8,492.65 (-0.72%) |
| Nifty IT | 26,299.05 (-2.73%) |
Top Movers
| Symbol | Company | Last |
|---|---|---|
| MARUTI | Maruti Suzuki India Ltd. | 14,115.00 (+5.24%) |
| TITAN | Titan Company Ltd. | 4,404.00 (+2.96%) |
| ADANIENT | Adani Enterprises Ltd. | 3,036.00 (+2.48%) |
| BAJFINANCE | Bajaj Finance Ltd. | 1,004.75 (+2.31%) |
| TMPV | Tata Motors Passenger Vehicles Ltd. | 352.20 (+2.07%) |
| Symbol | Company | Last |
|---|---|---|
| EICHERMOT | Eicher Motors Ltd. | 7,073.50 (-4.75%) |
| INFY | Infosys Ltd. | 1,000.40 (-3.50%) |
| TATACONSUM | Tata Consumer Products Ltd. | 1,075.60 (-3.34%) |
| TCS | Tata Consultancy Services Ltd. | 2,031.50 (-3.17%) |
| WIPRO | Wipro Ltd. | 170.39 (-2.90%) |
Global Cues
US markets closed higher on Monday, led by strong gains in heavyweight technology stocks and easing geopolitical tensions. Asian markets, however, ended mixed on Tuesday, with Chinese shares gaining on stronger-than-expected PMI data, while Hong Kong shares dropped. Crude oil rates stabilized amidst ongoing US-Iran discussions.
Currency & Macro
The Indian Rupee weakened against the US dollar, closing at 94.66 on Tuesday. On the macro front, India’s external debt stood at $762.8 billion at the end of March 2026. Crisil Ratings revised its profitability impact outlook for India Inc, now expecting a 100 basis point shave off operating margins in fiscal 2027, lower than earlier projections, due to easing West Asia tensions. India and the US also reviewed progress on an interim bilateral trade agreement.
RBI & Policy
Commerce and Industry Minister Piyush Goyal stated that India’s Free Trade Agreement (FTA) negotiations with Israel and the GCC are currently on hold due to the West Asia crisis. In another development, the Union Cabinet approved an additional investment commitment of ₹30,000 crore for new National Investment and Infrastructure Fund (NIIF) funds, bringing the government’s total commitment to ₹60,000 crore.
IPO Watch
- Knack Packaging Ltd. opens for subscription today, July 1, with a price band of ₹161-170 per share, closing on July 3.
- Other IPOs currently open include Vinit Mobile Ltd. (₹150-158), Teja Engineering Industries Ltd. (₹220), Atharva Poly-Plast Ltd. (₹55-60), Kratikal Tech Ltd. (₹128-135), Sampark India Logistics Ltd. (₹80-84), and Seemax Resources Ltd. (₹134-141), all closing on July 2.
- Aastha Spintex Ltd. (₹125-136), Twinkle Papers Ltd. (₹64-69), and Adon Agro Commodities Ltd. (₹66-70) are also open, closing today, July 1.
- IC Electricals Company Ltd. is slated to open on July 3 with a price band of ₹94-99.
Corporate & Earnings
- Transformers and Rectifiers bagged new orders worth over ₹1,000 crore for manufacturing transformers.
- Kalpataru Projects International secured orders totaling ₹2,957 crore across T&D, buildings, and water verticals.
- Avantel received a firm purchase order worth ₹83.80 crore, to be executed by March 2027.
- Deccan Polypacks announced its quarterly results.
The Nifty Midcap 100’s positive close against the broader market’s decline highlights a continued investor interest in mid-cap segments, even as large-caps face headwinds from FII outflows.
Despite FII selling in the cash market, their net equity and debt investments via SEBI routes suggest a nuanced approach, potentially rebalancing portfolios rather than a complete exit.