Indian stocks surge as IT rally, soft U.S. jobs data boost sentiment

The Sensex jumped 0.75%, to end at 77,502.12. The Nifty rallied 0.71%, to settle at 24,175.70.

Published - July 03, 2026 11:15 am IST — Mumbai

PTI

From the Sensex pack, HCL Tech, Bajaj Finserv, Tata Steel, Tech Mahindra, Bharat Electronics and Tata Consultancy Services were among the major winners.

Benchmark indices Sensex and Nifty surged in early trade on Friday (July 3, 2026) amid a rally in IT stocks and softer-than-expected U.S. jobs data tempering expectations of near-term monetary tightening by the Federal Reserve.

The 30-share BSE Sensex jumped 545.89 points to 78,048.01 during initial trade. The 50-share NSE Nifty surged 173.85 points to 24,346.90.

From the Sensex pack, HCL Tech, Bajaj Finserv, Tata Steel, Tech Mahindra, Bharat Electronics and Tata Consultancy Services were among the major winners.

Mahindra & Mahindra, State Bank of India, NTPC and InterGlobe Aviation were among the laggards.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were quoting higher.

U.S. markets ended on a mixed note, with the Dow Jones Industrial Average surging 1.14%, while the Nasdaq Composite declined 0.80%. The S&P 500 ended flat.

“Continued progress in the U.S.–Iran negotiations has strengthened hopes of a diplomatic resolution, easing concerns over energy supply disruptions and providing support to risk assets. Meanwhile, softer-than-expected U.S. jobs data has tempered expectations of near-term monetary tightening by the Federal Reserve, offering an additional boost to investor sentiment,” said Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm.

Brent crude, the global oil benchmark, quoted 0.63% higher at $72.25 per barrel.

“India’s outperformance continues aided partly by the weakness in Kospi and the general weakness in the chip trade. The continuing tapering of the FII outflows is another significant factor supporting the market. But the rally will not sustain unless it is supported by fundamental factors. The crash in crude to pre-war level is the strongest macro support to the economy and the market,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹311.82 crore on Thursday (July 2, 2026), according to exchange data.

On Wednesday (July 1, 2026), the Sensex jumped 579.48 points, or 0.75%, to end at 77,502.12. The Nifty rallied 169.85 points, or 0.71%, to settle at 24,175.70.

Published - July 03, 2026 11:15 am IST