Markets kicked off July on a firmer footing Wednesday, snapping a multi-session losing streak as strong June auto sales data, easing crude oil prices, and broad-based buying in consumption stocks helped benchmark indices claw back recent losses and reclaim a key psychological level.The Nifty 50 settled at 24,005.85, up 0.59 per cent, while the Sensex advanced 0.58 per cent to close at 76,922. The broader market also participated, with the Nifty Midcap 100 gaining 0.34 per cent to 62,008 and the Nifty Smallcap 100 rising 0.36 per cent to 18,931.“Markets started the month on a positive note... the continued decline in Brent crude prices towards the $71 per barrel mark provided further relief on inflationary concerns,” said Ajit Mishra, SVP Research at Religare Broking, adding that gains were capped by uncertainty around US-Iran peace negotiations and a below-normal June monsoon.Sectorally, Realty surged nearly 3 per cent, while FMCG and Media advanced around 2 per cent each. The Auto index climbed over 1 per cent on the back of robust monthly sales numbers from leading manufacturers.Consumption heavyweights Nestle India, Hindustan Unilever, and Titan were among the top Nifty gainers, alongside Eternal, Adani Enterprises, and Asian Paints.On the losing side, IT fell nearly 2 per cent amid persistent global competitive pressures, with HCL Technologies, Tech Mahindra, and TCS among the notable decliners.Metals and Pharma shed around 1 per cent and 0.5 per cent, respectively. Bank Nifty held steady, with support from select PSU and private banking names, trading within a band of 57,400–57,500 on the downside and 58,500–58,600 on the upside.The rupee, however, weakened sharply, slipping below the 85.20 mark — down around 0.57 per cent — as the Dollar Index firmed above 101.40, pressuring emerging market currencies broadly.Market participants are tracking the progress of US-India trade negotiations and the stalled US-Iran talks in Doha.In commodities, crude oil extended its decline, with Brent trading below $69 in international markets and domestic MCX crude futures near ₹6,550, easing concerns over India’s import bill.Gold softened domestically, slipping around ₹700 to ₹1,41,850 per 10 grams, with COMEX Gold near $3,985, as a stronger dollar weighed on the metal.On the macro front, the IMD’s warning of potential El Niño conditions and the risk of a weaker monsoon raised concerns about agricultural output and rural consumption, adding a layer of uncertainty to the near-term economic outlook.US-Iran talks in Doha meanwhile showed little progress, with Iran reportedly declining to meet senior US envoys, dimming hopes of a near-term diplomatic resolution.Looking ahead, the market’s next directional move hinges on a decisive breakout from the 23,800–24,200 range on the Nifty.A sustained move above 24,200 could open the door toward 24,400, while a slip below 24,000 may retest the 23,800 support zone.Key US economic data — including ADP Employment Change, Non-Farm Payrolls, and the Unemployment Rate — due later this week will be closely watched for cues on the Federal Reserve’s rate outlook, which in turn will drive dollar movement and influence foreign fund flows into domestic markets.Published on July 1, 2026