📅 2 July 2026 | EarnFree.in | Market Wrap
Indian markets extended gains sharply on Thursday. Nifty 50 closed 0.71% higher at 24,175.70 (+169.85 points), while Sensex jumped 0.75% to 77,502.12 (+579.48 points). The rally was driven by easing US-Iran tensions pushing oil prices lower, combined with dovish signals from Fed Chair Kevin Warsh reinforcing rate-cut expectations. Nifty IT logged its best intraday gains since May 2025.
📊 Market Scorecard — July 2, 2026
| Index | Close | Change |
|---|---|---|
| Nifty 50 | 24,175.70 | ▲ +0.71% |
| Sensex | 77,502.12 | ▲ +0.75% |
| Nifty MidCap | — | ▲ +0.48% |
| Nifty SmallCap | — | ▲ +1.25% |
| Nifty IT | — | ▲ Best day in 14 months |
| Top gainers | Infosys, Tech Mahindra, TCS | 🟢 |
| Rupee | ₹95.36/USD | ▼ -11 paise |
🔑 Why Markets Rallied
- 🛢️ Crude oil fell on positive signs from US-Iran trade talks — easing Strait of Hormuz tensions.
- 🏦 Fed Chair Warsh’s dovish tone reinforced expectations of moderating inflation and rate cuts ahead.
- 💻 IT sector rebounded sharply after weeks of underperformance — Infosys, TCS, Tech Mahindra led.
- 📈 Broader markets also participated — Auto, Consumer Durables, Realty all outperformed.
⚠️ Disclaimer: For informational purposes only. Not SEBI-registered investment advice.
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