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What is the story about?
Markets at a glance
Dalal Street snapped a two-day losing streak on Wednesday as buying in heavyweight financials, Reliance Industries and automobile stocks lifted benchmark indices, outweighing persistent weakness in information technology shares. Improving domestic macroeconomic signals also supported sentiment, with pressure on the rupee showing signs of easing despite a cautious global backdrop. Foreign institutional investors remained net sellers, but sustained domestic institutional buying helped power the market's rebound.
Closing Bell: Nifty reclaims 24,000 as Reliance, banks and auto stocks lead rally
Domestic equity benchmarks rebounded on Wednesday, snapping a two-day losing streak as buying in heavyweight financials, Reliance Industries and automobile stocks helped offset continued weakness in the information technology pack.
Read more
Rupee weakness eases against dollar amid improving macro signals
The Indian rupee opened slightly weaker at 94.68 against the US dollar on Wednesday (July 1), compared with Tuesday’s (June 30's) close of 94.66, as investors balanced improving macroeconomic signals with caution over global market conditions.
Read more
FIIs sell over ₹5,000 crore in three days; DIIs continue to cushion markets
Foreign institutional investors (FIIs) remained net sellers in the Indian equity market on Wednesday, offloading shares worth ₹1,140.50 crore, according to provisional exchange data.
Read more
Thursday's trade setup
As Dalal Street heads into Thursday's session, investors will look for signs that Wednesday's rebound has further legs. Banking stocks remain in focus as the Nifty tests key resistance levels, while persistent weakness in IT could continue to cap the upside. Alongside the broader market setup, a packed line-up of corporate announcements is expected to keep stock-specific action firmly in play.
Stocks to Watch for July 2: Coal India, Bharti Airtel, NMDC, Lupin, Indian Bank and more
From Bharti Airtel's NBFC launch to Lupin's EMA approval and Coal India's operational update, here are the stocks to track ahead of Thursday's trading session
Read moreNifty Outlook for July 2: Bulls aim for a range breakout even as IT remains a major drag
The Nifty Bank has a stronger setup in comparison to the Nifty and even though it remains in a range as well, it is reversing its underperformance from earlier in the week and is also moving back to the higher end of the range, having closed above the mark of 58,000 yet again. The 58,500 level remains the one to watch on the upside.
Read more
Policy watch: Energy, taxes and reforms
Away from the trading screens, policy developments remained firmly in focus. Nayara Energy surprised the market with fuel price cuts, while the next phase of GST reforms moved back into the spotlight as policymakers and experts debated ways to simplify the tax regime and improve ease of doing business.
Nayara Energy cuts petrol and diesel prices, sources say
Nayara Energy has cut the price of petrol by ₹5 per litre. In addition, the Mumbai-based downstream petroleum company has also announced cuts for diesel prices by ₹3 per litre, as per sources who spoke to CNBC-TV18.
Read more GST at 9 explained: Four reforms that could shape its next decade
Nine years after GST transformed India's indirect tax system, the focus has shifted from implementation to improving how the regime functions. While GST 2.0 simplified tax rates, experts say the next stage of reforms should prioritise reducing litigation, fixing the inverted duty structure, expanding GST to more sectors and creating a long-term roadmap to make the tax system simpler, more predictable and business-friendly.
Read more
Global & corporate spotlight
Beyond the markets, Wednesday's headlines stretched from Washington to Mumbai. Donald Trump's latest financial disclosures put his family's cryptocurrency earnings under the spotlight, while the US Supreme Court delivered another key ruling. Back home, June auto sales continued to dominate the corporate news flow, offering fresh clues on demand trends heading into the festive season.
Donald Trump Reports $1.4 Billion Crypto Income In 2025 Financial Disclosure
President Donald Trump reported more than $1.4 billion in income from his family's crypto ventures in 2025, according to his latest financial disclosure filed with the US Office of Government Ethics on June 30.
US Supreme Court blocks Trump's birthright citizenship order, allows transgender sports bans
The US Supreme Court on Tuesday upheld birthright citizenship, dealing a major legal setback to President Donald Trump by striking down his attempt to restrict automatic citizenship for children born in the United States to many immigrants.
Read moreJune Auto Sales Updates: Maruti Suzuki sales at 2 lakh units; Hyundai sales above estimates
The management of M&M's farm equipment division said that while it is early to assess the impact of the emerging El Nino conditions, strong government interventions like fertilizer subsidies, targeted support measures at the local level could mitigate some of the risks to farmers and cushion its impact on the Kharif season.
Read more
That's all from us tonight. We'll be back tomorrow with another edition of Top 10@10, bringing you the biggest stories shaping markets, business, the economy and beyond.
Dalal Street snapped a two-day losing streak on Wednesday as buying in heavyweight financials, Reliance Industries and automobile stocks lifted benchmark indices, outweighing persistent weakness in information technology shares. Improving domestic macroeconomic signals also supported sentiment, with pressure on the rupee showing signs of easing despite a cautious global backdrop. Foreign institutional investors remained net sellers, but sustained domestic institutional buying helped power the market's rebound.
Closing Bell: Nifty reclaims 24,000 as Reliance, banks and auto stocks lead rally
Domestic equity benchmarks rebounded on Wednesday, snapping a two-day losing streak as buying in heavyweight financials, Reliance Industries and automobile stocks helped offset continued weakness in the information technology pack.
Read more
Rupee weakness eases against dollar amid improving macro signals
The Indian rupee opened slightly weaker at 94.68 against the US dollar on Wednesday (July 1), compared with Tuesday’s (June 30's) close of 94.66, as investors balanced improving macroeconomic signals with caution over global market conditions.
Read more
FIIs sell over ₹5,000 crore in three days; DIIs continue to cushion markets
Foreign institutional investors (FIIs) remained net sellers in the Indian equity market on Wednesday, offloading shares worth ₹1,140.50 crore, according to provisional exchange data.
Read more
Thursday's trade setup
As Dalal Street heads into Thursday's session, investors will look for signs that Wednesday's rebound has further legs. Banking stocks remain in focus as the Nifty tests key resistance levels, while persistent weakness in IT could continue to cap the upside. Alongside the broader market setup, a packed line-up of corporate announcements is expected to keep stock-specific action firmly in play.
Stocks to Watch for July 2: Coal India, Bharti Airtel, NMDC, Lupin, Indian Bank and more
From Bharti Airtel's NBFC launch to Lupin's EMA approval and Coal India's operational update, here are the stocks to track ahead of Thursday's trading session
Read moreNifty Outlook for July 2: Bulls aim for a range breakout even as IT remains a major drag
The Nifty Bank has a stronger setup in comparison to the Nifty and even though it remains in a range as well, it is reversing its underperformance from earlier in the week and is also moving back to the higher end of the range, having closed above the mark of 58,000 yet again. The 58,500 level remains the one to watch on the upside.
Read more
Policy watch: Energy, taxes and reforms
Away from the trading screens, policy developments remained firmly in focus. Nayara Energy surprised the market with fuel price cuts, while the next phase of GST reforms moved back into the spotlight as policymakers and experts debated ways to simplify the tax regime and improve ease of doing business.
Nayara Energy cuts petrol and diesel prices, sources say
Nayara Energy has cut the price of petrol by ₹5 per litre. In addition, the Mumbai-based downstream petroleum company has also announced cuts for diesel prices by ₹3 per litre, as per sources who spoke to CNBC-TV18.
Read more GST at 9 explained: Four reforms that could shape its next decade
Nine years after GST transformed India's indirect tax system, the focus has shifted from implementation to improving how the regime functions. While GST 2.0 simplified tax rates, experts say the next stage of reforms should prioritise reducing litigation, fixing the inverted duty structure, expanding GST to more sectors and creating a long-term roadmap to make the tax system simpler, more predictable and business-friendly.
Read more
Global & corporate spotlight
Beyond the markets, Wednesday's headlines stretched from Washington to Mumbai. Donald Trump's latest financial disclosures put his family's cryptocurrency earnings under the spotlight, while the US Supreme Court delivered another key ruling. Back home, June auto sales continued to dominate the corporate news flow, offering fresh clues on demand trends heading into the festive season.
Donald Trump Reports $1.4 Billion Crypto Income In 2025 Financial Disclosure
President Donald Trump reported more than $1.4 billion in income from his family's crypto ventures in 2025, according to his latest financial disclosure filed with the US Office of Government Ethics on June 30.
US Supreme Court blocks Trump's birthright citizenship order, allows transgender sports bans
The US Supreme Court on Tuesday upheld birthright citizenship, dealing a major legal setback to President Donald Trump by striking down his attempt to restrict automatic citizenship for children born in the United States to many immigrants.
Read moreJune Auto Sales Updates: Maruti Suzuki sales at 2 lakh units; Hyundai sales above estimates
The management of M&M's farm equipment division said that while it is early to assess the impact of the emerging El Nino conditions, strong government interventions like fertilizer subsidies, targeted support measures at the local level could mitigate some of the risks to farmers and cushion its impact on the Kharif season.
Read more
That's all from us tonight. We'll be back tomorrow with another edition of Top 10@10, bringing you the biggest stories shaping markets, business, the economy and beyond.
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