Last Updated on July 1, 2026 5:44 pm by BIZNAMA NEWS
Auto, FMCG and Financials Lead Gains
Our Business Correspondent
Benchmark indices staged a recovery on Wednesday, snapping a two-day losing streak, as broad-based buying in auto, FMCG and financial stocks offset weakness in IT counters. The rally was aided by positive global cues and value buying in large-cap names, helping the Nifty reclaim the psychologically important 24,000 mark.
The S&P BSE Sensex climbed 443.97 points (0.58%) to close at 76,922.64, while the Nifty 50 advanced 140.10 points (0.59%) to 24,005.85. This rebound comes after two sessions of declines, where the Sensex and Nifty had shed 0.80% and 0.79% respectively.
Key movers included Eternal (+5.82%), State Bank of India (+1.62%) and Reliance Industries (+0.97%).
Broader markets underperformed: the BSE 150 MidCap Index rose 0.29% and the BSE 250 SmallCap Index added 0.19%. Market breadth remained positive, with 2,222 shares advancing against 2,059 declines.
Volatility cooled, with the India VIX slipping 2.62% to 13.24, signaling reduced near-term risk perception.
Macro & Economy
- Manufacturing PMI: India’s HSBC Manufacturing PMI eased to 54.2 in June from 55.0 in May, marking the second-slowest expansion since mid-2022. Despite moderation, activity remains firmly in expansion territory.
- GST Collections: Gross GST revenue surged 13.9% YoY to ₹1.95 lakh crore, supported by robust domestic demand and import growth. Net collections rose 11.2% to ₹1.62 lakh crore, even as refunds increased. Import-related GST revenue jumped 34.6% YoY.
Numbers to Track
- 10-year G-sec yield: 6.757% (+0.06%)
- Rupee vs USD: 95.2350 (weaker vs 94.5600 previous close)
- MCX Gold (Aug futures): ₹141,800 (-0.51%)
- US Dollar Index: 101.38 (+0.21%)
- US 10-year yield: 4.467% (+1.02%)
- Brent Crude (Sep futures): $72.37 (-0.80%)
Global Markets
- US Futures: Dow Jones futures down 110 points, signaling weak Wall Street open.
- Europe: Indices lower ahead of central bank leaders’ panel; eurozone inflation eased to 2.8% in June (vs 3.2% in May).
- Asia: Mixed performance amid US-Iran tensions, rising US yields, and yen weakness to a 40-year low (162.28/USD).
- Wall Street Overnight: Semiconductor-led rally capped H1 gains; Dow closed at record 52,319.20 (+0.26%), S&P 500 at 7,499.36 (+0.79%), Nasdaq at 26,213.72 (+1.52%).
New Listings
- Waterways Leisure Tourism: Listed at ₹690, 14.6% below issue price of ₹808; closed at ₹667.35 (-17.41%).
- Advit Jewels: Debuted at ₹187 (+35.51% premium); closed at ₹178.15 (+29.09%).
Auto Sales Update
- Ola Electric: Registrations doubled to 43,719 units in Q1 FY26.
- Ashok Leyland: Sales up 25.18% YoY to 19,194 units.
- Escorts Kubota: Tractor sales rose 19.1% YoY to 13,695 units.
- Steel Strips Wheels: Turnover up 36.84% YoY to ₹479.87 crore.
- VST Tillers: Sales up 3.02% YoY to 8,107 units.
- SML Mahindra: Sales up 3% YoY to 1,930 units, but stock fell 3.37%.
Stocks in Spotlight
- KPIT Technologies: Slumped 16.46% on weak revenue guidance.
- Paisalo Digital: Jumped 19.12% after promoter stake rose to 46.72%.
- GNG Electronics: Hit upper circuit on pan-India distribution tie-up.
- RITES: Surged 12.86% after ₹175.41 crore PMC order.
- EPACK Durable: Rose 2.41% on state incentive approval.
- ZF CVCS India: Fell 3.24% after CFO resignation.
- VA Tech WABAG: Gained 3.58% on Vienna water works order.
- Transformers & Rectifiers: Up 1.69% after mega transformer order.
- Zaggle Prepaid: Added 1.25% on HPCL fleet programme deal.
IPO Watch
- Knack Packaging IPO: Subscribed 2.59x; bids for 4.92 crore shares vs 1.89 crore offered.
- Aastha Spintex IPO: Subscribed 4.64x; bids for 6.30 crore shares vs 1.36 crore offered.