Markets opened higher on Thursday, with the Sensex rising 365 points to 77,287.95 from its previous close of 76,922.64, opening at 77,083.14. The Nifty 50 gained 100 points to trade at 24,106.20, after closing at 24,005.85 on Wednesday and opening at 24,062.20.IT stocks led the charge on the Nifty, with Infosys jumping 4.10 per cent to ₹1,025.70 from its previous close of ₹985.30, HCL Technologies rising 3.77 per cent to ₹1,073.20 from ₹1,034.20, and TCS gaining 2.77 per cent to ₹2,037.50 from ₹1,982.60. Tech Mahindra advanced 2.45 per cent to ₹1,395.60, while Eternal added 1.54 per cent to ₹284.00.On the losing side, NTPC fell 1.40 per cent to ₹352.90 from ₹357.90, Bajaj Finance declined 1.12 per cent to ₹1,003.50 from ₹1,014.90, and Power Grid slipped 1.03 per cent to ₹284.60. ONGC dropped 0.84 per cent to ₹233.01, while Trent shed 0.60 per cent to ₹3,270.70.The IT sector's morning strength comes despite a mixed overnight session on Wall Street, where the Nasdaq fell 0.7 per cent and the S&P 500 slipped 0.2 per cent as profit-taking in semiconductor stocks pulled indexes lower. Rajesh Palviya, Head of Research at Axis Direct, noted that Asian markets "opened lower amid weakness in technology shares," though domestic IT names were finding buyers after trading in oversold territory.Vikram Kasat, Head Advisory at PL Capital, flagged the underlying tension in global markets: ..."once IT names that are at extreme oversold zones stabilize, both Sensex and Nifty may take on near-term resistance zones."A key tailwind for Indian markets has been the sustained fall in crude oil prices. Brent crude is trading near $67–$71 per barrel — near multi-year lows — after its steepest quarterly decline since 2020, driven by easing geopolitical tensions and expectations of ample global supply. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said crude's decline "will further strengthen India's macros and help in achieving higher growth while keeping inflation in check."The auto sector drew fresh attention after June passenger vehicle sales posted 24.1 per cent growth. Vijayakumar noted the data "indicates that the demand momentum in the economy continues to be strong." The realty sector also outperformed in the previous session, rising 3.44 per cent.In the banking space, Bank Nifty closed above the 58,000 mark on Wednesday with a 0.85 per cent gain. Ponmudi R, CEO of Enrich Money, said the index "remains comfortably positioned above its 20, 50, 100, and 200-day EMAs, indicating that the broader bullish structure remains intact," with immediate resistance at 58,200–58,300 and support at 57,500–57,440.On the broader economy, GST collections rose 13.9 per cent year-on-year in June to ₹1.95 lakh crore gross, with net collections at ₹1.62 lakh crore after refunds. Import-related revenues surged 34.6 per cent, while domestic GST collections grew a more modest 6.5 per cent.The rupee, however, remained under pressure, depreciating 59 paise to close at 95.25 against the US dollar in the previous session — its third straight day of losses — as short covering and a stronger dollar weighed on the currency.Sector-specific developments included positive Q1 business updates from JTL Industries, V2 Retail, and J&K Bank. Gold financing stocks also attracted attention after Fed Chair Kevin Warsh's remarks on inflation moderation. Adani Energy's board approved raising ₹10,000 crore, adding to corporate activity on Dalal Street.Aakash Shah, Technical Research Analyst at Choice Broking, said the Nifty Put-Call Ratio rising to 1.13 from 1.02 signals "increased put writing activity and strengthening bullish sentiment," while India VIX declining 2.63 per cent to 13.24 reflects "reduced uncertainty in the market." The immediate trading range for Nifty is expected between 23,850 and 24,300, with a breakout above 24,200–24,300 required to confirm the next leg of the rally.Published on July 2, 2026