Indian benchmark indices experienced a mixed trading session today. The BSE Sensex showed gains, rising by 200 points to reach 83,612. The NSE Nifty also edged higher, trading around 25,509, marking an increase of 55 points or 0.22%.

However, not all stocks participated in the upward movement. Nykaa and Gabriel India saw a decline of 4%, while DMart dropped by 3%.

Market Open and Intraday Movement

Early trading saw the Sensex gaining 239.47 points, or 0.29%, to reach 83,649.16. The Nifty 50 also opened positively, rising 79.10 points, or 0.31%, to 25,532.50. Throughout the day, the key benchmark indices swung between gains and losses within a narrow range.

On Wednesday, July 2nd, the Indian stock market closed lower due to concerns regarding U.S. trade policy and weak global cues. The Sensex declined 287.60 points, or 0.34%, to close at 83,409.69, while the Nifty 50 settled 88.40 points, or 0.35%, lower at 25,453.40.

Sectoral Performance

On the sectoral front, Nifty IT and Nifty Metal were the top performers, each gaining 0.6%. Other sectors showed a mix of performance:

• Metals climbed approximately 1.1–1.3%.
• Consumer Durables gained around 1%.
• PSU banks, capital goods, realty, media, and oil & gas experienced weakness, declining by 0.5–1%.

Nifty Open Interest (OI) Data

Analysis of Nifty's open interest (OI) data reveals key levels to watch. The highest Call OI is at the 25,500 strike, followed by 25,600, suggesting a resistance zone around these levels. On the Put side, the highest OI is observed at the 25,400 and 25,300 strikes, highlighting strong support levels. This OI setup indicates that the 25,300–25,600 range will be crucial for Nifty's next directional move.

Global Market Influences

Global cues presented a mixed picture. The Gift Nifty was trading around 25,579, indicating a mildly positive start for the Indian benchmark index. US markets settled higher, with the S&P ending 0.47% higher at 6,227.42 and the Nasdaq rising 0.94% to 20,393.13, both hitting new highs. However, the Dow Jones slipped marginally by 0.02% to 44,484.42.

Stocks in Focus

Several stocks were in the news for various reasons:

• Nykaa: Pre-IPO investors were reportedly looking to sell up to a 2.1% stake in FSN e-Commerce via block deals.
• Punjab National Bank (PNB): The bank reported an 11.6% Y-o-Y surge in Global Business in Q1FY26, reaching Rs 27.19 trillion.
• Tata Power: The company's shares were in focus following a $490 million arbitration ruling in favor of Kleros.

Expert Views

Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that Sensex formed a bearish candle on daily charts and is holding a lower top formation on intraday charts, which is largely negative. He suggested that as long as Sensex trades below 83,500, the weak sentiment is likely to continue, with potential retesting of the 83,000 level.

Additional Factors

• India has implemented a common contract note for shares, easing post-trade reporting for equity transactions by institutional investors.
• Indian Bank has waived minimum balance charges on all Savings Bank accounts, effective July 7, 2025.
• Crude oil futures traded lower due to an increase in US crude oil inventory levels.