Dalal Street ended a two-day losing streak on Wednesday, driven by investments in major financials, Reliance Industries, and automobile stocks, counteracting ongoing weakness in technology shares. Positive domestic macroeconomic indicators also bolstered sentiment, with signs of easing rupee pressure amidst a cautious global environment. Although foreign institutional investors remained net sellers, steady buying from domestic institutions fueled the market’s rebound.
Final Call: Nifty crosses 24,000 as Reliance, banks, and auto sectors lead the surge
Domestic equity benchmarks bounced back on Wednesday, marking the end of a two-day decline as acquisitions in heavyweight financials, Reliance Industries, and automobile stocks mitigated the continued drop in the IT sector.
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Rupee’s weakness stabilizes against the dollar amidst positive macro indicators
The Indian rupee opened marginally lower at 94.68 against the US dollar on Wednesday (July 1), compared to Tuesday’s closing value of 94.66, as investors weighed improving economic signals against global market uncertainties.
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FIIs offload over ₹5,000 crore in three days; DIIs persist in cushioning the markets
Foreign institutional investors (FIIs) continued to be net sellers in the Indian stock market on Wednesday, unloading shares valued at ₹1,140.50 crore, based on provisional exchange data.
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Thursday’s Trading Setup
As Dalal Street approaches Thursday’s session, investors will be on the lookout for signals indicating whether Wednesday’s recovery has further momentum. Banking stocks are in the spotlight as the Nifty approaches critical resistance levels, while persistent weakness in IT might continue to limit gains. Alongside the broader market context, a packed schedule of corporate announcements is anticipated to enhance stock-specific activity.
Stocks to Monitor 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, check out the stocks to follow ahead of Thursday’s trading session
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Nifty Perspective for July 2: Bulls target a breakout while IT remains a significant weight
The Nifty Bank shows a more robust pattern compared to the Nifty, and while it remains in a range, it is starting to recover from earlier underperformance, closing above the 58,000 mark once more. Keep an eye on the 58,500 level for potential upside.
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Policy Insights: Energy, Taxes, and Reforms
Away from market activities, policy developments are under scrutiny. Nayara Energy surprised the market with fuel price reductions, while the next phase of GST reforms has made a return to discussions as policymakers and experts consider ways to streamline the tax system and enhance the ease of doing business.
Nayara Energy announces cuts in petrol and diesel prices
Nayara Energy has reduced the price of petrol by ₹5 per litre, along with diesel prices being cut by ₹3 per litre, according to sources quoted by CNBC-TV18.
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The Future of GST at 9: Understanding Four Key Reforms
Nine years post-GST’s overhaul of India’s indirect tax framework, attention has shifted toward refining how the system functions. While GST 2.0 simplified tax rates, experts advocate for future reforms to focus on reducing litigation, addressing the inverted duty structure, broadening GST’s application, and developing a long-term strategy for a simpler, more predictable, and business-friendly tax environment.
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Global & Corporate Spotlight
Beyond market movements, Wednesday’s news spanned from Washington to Mumbai. Donald Trump’s recent financial disclosures highlighted his family’s cryptocurrency earnings, while the US Supreme Court issued another significant ruling. Back home, June auto sales continued to dominate the corporate news landscape, providing insights into demand trends as the festive season approaches.
Donald Trump Reports $1.4 Billion in Crypto Earnings in 2025 Financial Disclosure
President Donald Trump disclosed an income exceeding $1.4 billion from his family’s cryptocurrency dealings in 2025, as outlined in his latest financial filings with the US Office of Government Ethics on June 30.
US Supreme Court upholds birthright citizenship while allowing bans on transgender sports participation
The US Supreme Court ruled to maintain birthright citizenship, representing a significant legal defeat for President Donald Trump by overturning his attempt to limit automatic citizenship for children born in the United States to many immigrants.
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June Auto Sales Update: Maruti Suzuki sales reach 2 lakh units; Hyundai sales exceed expectations
The management of M&M’s farm equipment division indicated that while it is premature to evaluate the impact of emerging El Nino conditions, strong governmental interventions, like fertilizer subsidies and targeted local support measures, could mitigate some risks to farmers and cushion the effects on the Kharif season.
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That’s all for tonight. We will return tomorrow with another edition of Top 10@10, covering the most significant stories influencing markets, business, the economy, and more.
