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Benchmarks gain for third day on positive global cues; Nifty closes at 24,271
Key benchmark indices extended gains for a third consecutive session on Friday, supported by positive global cues. Weaker-than-expected US jobs data strengthened expectations of a Federal Reserve interest rate cut at its upcoming policy meeting. The Nifty closed at 24,270.85, led by gains in IT, healthcare and metal stocks. However, profit booking in the second half trimmed intraday gains, while broader markets lagged the benchmark indices.
HCL Tech to Infosys, Tech Mahindra: IT stocks extend gains, Nifty IT up 3% today: Is worst over for the battered sector?
IT stocks gained on July 3, propelled by positive global tech trends and reduced fears of an interest rate hike. The Nifty IT index surged nearly 3%, recovering from recent declines, though it remains the worst-performing sector this year, down 30% in H1CY26.
Non-AI Nifty suddenly beating Nasdaq, South Korea & Taiwan bourses: Is the global tech trade finally reversing?
India's Nifty is surprisingly outperforming global tech giants like Nasdaq, South Korea, and Taiwan, marking a potential reversal in the AI-driven market trend. Foreign investors are shifting away from Korean chipmakers, while India's domestic growth drivers offer a more stable outlook. This shift, fueled by concerns over AI 'malinvestment' and concentrated market risks, suggests a broader diversification may be underway.
Market Pulse: Key triggers to watch ahead of the July 3 trading session
Market Pulse July 3: Global cues remain supportive as US stocks traded higher after weaker-than-expected jobs data reinforced hopes of a prolonged pause in Federal Reserve rate hikes. Domestically, investors will track Adani Enterprises’ ₹10,000-crore QIP launch and developments in energy markets after the government ruled out an immediate fuel price cut. Technically, Nifty’s close above its 100-day moving average has improved sentiment, with analysts seeing scope for a move towards 24,300-24,500, while 24,000 remains a key support level.
Indian public relations industry pegged to reach Rs 4,500 cr by 2030: Report
India's public relations sector is poised for significant growth, projected to hit Rs 4,500 crore by 2030. While the overall growth rate is moderating, indicating industry maturity, key sectors like startups, education, government, and FMCG are showing robust gains. Notably, government and startup client shares have surged dramatically, reshaping the industry's landscape. AI investment is also on the rise, though strategies vary across firms.
Stocks in news: Hero MotoCorp, Canara Bank, Bharti Airtel, Indian Hotels, SBI
Indian markets opened positively, with analysts suggesting a stock-specific strategy amidst consolidation. Hero MotoCorp sees a revival in commuter bike demand, planning capacity expansion. Canara Bank and Indian Bank reported strong credit growth. Bharti Airtel's NBFC arm has begun operations, while Indian Hotels plans significant capital expenditure. SBI launched AI-powered innovations, and BPCL is acquiring a stake in a Brazilian oil venture.
Corporate loan demand outpaces retail credit as firms shift from bonds to banks
Corporate sector borrowing from banks is accelerating past individual loans, driven by companies seeking cost savings as corporate bond yields climb. Recent RBI rate cuts have made bank loans more appealing. Analysts anticipate this trend to continue, supported by improved liquidity, though a shift back to debt markets is possible. Small businesses are seeing particularly strong bank credit growth.
Corporate loans outpace retail
Corporate sector borrowing from banks is accelerating past individual loans, driven by companies seeking cost savings as corporate bond yields climb. Recent RBI rate cuts have made bank loans more appealing. Analysts anticipate this trend to continue, supported by improved liquidity, though a shift back to debt markets is possible. Small businesses are seeing particularly strong bank credit growth.
Nifty IT logs worst first half since 2003 as AI fears weigh on sector
The Nifty IT index fell 31 per cent in January-June 2026 as AI disruption, weak global demand and slowing growth weighed on India's information technology sector
SBI Securities prefers HDFC Bank, sees long-term upside in metals
Sunny Agarwal, Head Fundamental Research, Retail Desk at SBI Securities, remains positive on private banks, preferring HDFC Bank over Kotak Mahindra Bank after the lender received a clean legal review. He says Persistent Systems' acquisition benefits may take up to eight quarters to materialise, while slower growth remains a near-term concern. Agarwal is also bullish on the metals sector, with Indian Metals & Ferro Alloys as his top pick, and remains positive on Astral over the long term despite near-term challenges.
Raymond’s aerospace vertical growth outpaces precision engineering business
Driven by global supply-chain diversification, JK Maini Global Aerospace is clocking a 25% expansion rate and has locked in a ₹2,350-crore order pipeline over the next five years.
Why Boeing and Airbus could be a game changer for some Indian auto stocks
Indian auto component makers expanding into aerospace and defence could unlock a significant new growth avenue, according to fund manager Rajesh Kothari. He believes even a small share of sourcing by global aircraft giants such as Boeing and Airbus could potentially double or triple revenues for some suppliers over time.