Pre-Market Brief: Nifty Holds 24,398 Amidst IT Rally; FIIs Net Buyers After Two Sell Sessions | 08 Jul 2026, 08:00 AM IST
Key Highlights
Nifty 50 closed at 24,398.70 yesterday with minor declines. IT stocks rallied, offsetting broader market weakness. FII flows and sector performance are key for the 9:15 AM open.
Indian equities experienced a mixed closing session on Tuesday, July 07, 2026, with the settling marginally lower at 24398.70, a −0.13% dip. The session’s highlight was the strong performance of the IT sector, which surged +2.43%, providing a significant counterweight to broader market declines. This buoyancy in IT stocks, led by major players, suggests targeted buying interest despite overall cautious sentiment.
Index Snapshot
| Name | Close | Change% |
|---|---|---|
| Nifty Bank | 58200.70 | −0.16% |
| NIFTY Midcap 100 | 62285.30 | −0.30% |
| Nifty 50 | 24398.70 | −0.13% |
The broader market also saw declines, with Nifty Bank shedding 0.16% and the NIFTY Midcap 100 closing 0.30% lower. Market breadth in the Nifty 50 was nearly balanced, with 26 advances and 24 declines, indicating a lack of strong directional conviction across the benchmark index.
Sector Performance
The IT sector led gains, surging +2.43%. Another sector also saw a minor uptick of +0.06%. On the downside, one sector declined significantly by −1.58%, while another fell −0.73%. Additional sectors registered declines of −0.43%, −0.04%, and −0.03%, indicating broad-based weakness outside of technology.
Top Movers
Among the Nifty 50 constituents, IT majors dominated the top gainers list. HCL Technologies Ltd. (HCLTECH) rose +3.00% to ₹1168.2, followed by Tech Mahindra Ltd. (TECHM) with a +2.92% gain to ₹1447.5, and Infosys Ltd. (INFY) up +2.84% to ₹1071.8. Titan Company Ltd. (TITAN) also performed strongly, increasing +2.67% to ₹4604.2, alongside SBI Life Insurance Company Ltd. (SBILIFE) which gained +2.49% to ₹1832.3.
Conversely, Trent Ltd. (TRENT) was the top loser, plummeting −12.44% to ₹2927.8. Adani Enterprises Ltd. (ADANIENT) declined −3.10% to ₹3107.2, and Adani Ports and Special Economic Zone Ltd. (ADANIPORTS) fell −1.64% to ₹1833.9. Bharat Electronics Ltd. (BEL) was down −1.50% to ₹419.15, and Cipla Ltd. (CIPLA) closed −1.39% lower at ₹1451.8.
/ Activity
Foreign Institutional Investors (FIIs) registered net buying of +393.19 cr on July 07, following a positive inflow of +243.03 cr on July 06. This marks a shift after two prior consecutive sell sessions on July 02 (−311.82 cr) and July 01 (−1140.5 cr). Domestic Institutional Investors (DIIs) were net sellers yesterday, with outflows of −383.43 cr. Over the past five sessions, DIIs have shown consistent buying, totaling significant inflows, except for yesterday’s minor outflow and July 03.
What to Watch at 9:15
As the market opens at 9:15 AM, the sustainability of IT sector strength and FII buying will be crucial in setting the day’s direction for the Nifty 50 and broader indices.