Stock market news: The Gift Nifty Live Chart shows a flat-to-positive start for the Indian stock market today, 2 July. By 7:25 AM, the Gift Nifty was trading around the 24,180.5 level, a premium of 88 points from the Nifty futures’ previous close of 24,092.60.
Indian equity benchmarks Sensex and Nifty 50 rebounded on Wednesday, 1 July, ending a two-day losing streak as easing crude oil prices and positive global market cues improved investor sentiment.
The Sensex rose 443.97 points, or 0.58%, to settle at 76,922.64, after climbing as much as 631.41 points during the session to touch an intraday high of 77,110.08.
The Nifty 50 also closed higher, advancing 140.10 points, or 0.59%, to end the day at 24,005.85.
US-Iran Talks
According to media reports, diplomatic efforts between the United States and Iran continued on Wednesday, with US President Donald Trump saying that indirect talks in Qatar were making progress despite recent hostilities that had threatened efforts to end the conflict in the Middle East.
Following the discussions, Iran’s Deputy Foreign Minister Kazem Gharibabadi, who led Tehran’s delegation, said the talks had concluded and that both sides had agreed to establish a communication channel by Thursday to report and document any violations of the initial memorandum of understanding.
Iran reiterated that there would be no direct negotiations with the US in Doha, with the discussions instead taking place indirectly and centred on a framework to de-escalate the conflict that began after the US-Israeli strikes on Iran in late February.
Crude oil prices
According to a Bloomberg report, oil prices declined for a third consecutive session on Thursday as crude flows through the Strait of Hormuz increased and signs of progress emerged in indirect US-Iran talks, easing concerns over potential supply disruptions.
Brent crude for September delivery traded near $71 per barrel, after falling more than 3% over the previous two sessions, while US West Texas Intermediate (WTI) crude hovered around $68 per barrel.
The report said oil shipments through the Strait of Hormuz have risen to more than 10 million barrels per day, highlighting Iran’s limited ability to disrupt shipping through the key maritime route. At the same time, US President Donald Trump said negotiations with Iran were making progress, further improving market sentiment.
Meanwhile, Qatar said the next round of indirect talks between the two countries would be scheduled at the earliest possible opportunity after the funeral ceremonies for Iran’s former Supreme Leader Ali Khamenei, who was killed in an air strike at the beginning of the conflict. According to Iranian state media, the ceremonies are expected to begin on 4 July and continue for several days.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a flat-to-positive start for the Indian stock market today. By 7:25 AM, the Gift Nifty was trading around the 24,180.5 level, a premium of 88 points from the Nifty futures’ previous close of 24,092.60.
Ponmudi R, CEO of Enrich Money, said that Indian equity markets are expected to trade with a cautious undertone as investors weigh encouraging geopolitical developments against weak global market cues. Qatar has stated that the latest round of indirect US–Iran talks has made “positive progress,” keeping hopes of a broader diplomatic resolution alive. However, sentiment across Asian markets remains subdued following a sharp sell-off in US technology stocks, with Japan’s Nikkei declining nearly 2% in early trade and South Korea’s Kospi falling by more than 6%, reflecting a cautious global risk environment.
A key source of comfort for India has been the sustained decline in crude oil prices, as energy supplies continued to flow smoothly through the Strait of Hormuz, easing fears of supply disruptions. Oil is currently trading in the $67–68 per barrel range, marking fresh lows and providing a favourable backdrop for India’s macroeconomic outlook. Alongside progress in geopolitical negotiations, lower crude prices are expected to bolster domestic market sentiment.
Asian Markets
Asian equities declined following a sell-off in US semiconductor companies, renewing worries that the rally fueled by artificial intelligence has outstripped fundamental values.
South Korean shares fell more than 5%, dragging the MSCI Asia Pacific Index down by 0.9%. Futures for US equity indices fell by 0.3%. These shifts occurred after Wall Street indices declined on Wednesday, and a semiconductor stock index dropped by 6.3%.
According to a Bloomberg report, South Korean stocks tumbled on Thursday, led by a sharp sell-off in semiconductor shares after Meta Platforms Inc. announced plans to sell computing power, raising investor concerns about potential excess capacity in the artificial intelligence (AI) infrastructure market.
The Kospi Index plunged as much as 7%, with heavyweight chipmakers Samsung Electronics Co. and SK Hynix Inc. falling more than 8% each. The sharp decline prompted the Korea Exchange to temporarily suspend program selling after a steep drop in Kospi futures.
The weakness followed a sell-off in US chip stocks overnight, with Micron Technology Inc. and SanDisk Corp. both ending the session down more than 10%, reflecting growing concerns over AI-related spending and demand, Bloomberg reported.
Gold, silver rates today
According to a Bloomberg report, gold prices extended their rebound on Thursday after comments from US Federal Reserve Governor Kevin Warsh eased concerns that the central bank may need to raise interest rates this year to contain inflation.
Spot gold was up 0.3% at $4,053.57 per ounce as of 8:15 AM. Singapore time, after gaining 0.6% in the previous session to snap a two-day losing streak. Bullion traded around the $4,050-an-ounce mark as investors interpreted Warsh’s remarks at the European Central Bank’s forum in Portugal as being less hawkish than expected.
The comments helped ease market concerns over the Fed’s policy outlook after the recent conflict in the Middle East pushed up energy prices and inflation expectations. Higher interest rates typically weigh on non-yielding assets such as gold by increasing the opportunity cost of holding the precious metal.
Among other precious metals, silver rose 0.4% to $59.35 per ounce, while platinum edged higher and palladium gained 0.4%. Meanwhile, the Bloomberg Dollar Spot Index, which tracks the US dollar against a basket of major currencies, was little changed, according to the Bloomberg report.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President – Research at Religare Broking, said the Nifty 50 is likely to remain in a consolidation phase until it registers a decisive breakout from the 23,800-24,200 range. He advised investors to maintain a stock-specific approach, focusing on sectors and stocks showing relative outperformance rather than taking broad market bets.
Mishra added that he remains negative on the IT sector due to its continued weakness. However, he sees emerging opportunities in banking, real estate, auto, pharmaceuticals, and select industrial stocks, which are exhibiting stronger relative momentum.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes the Bank Nifty continues to exhibit relative strength despite recent consolidation and remains comfortably positioned above its 20-, 50-, 100-, and 200-day Exponential Moving Averages (EMAs), indicating the broader bullish structure remains intact. From a technical perspective, the index needs to decisively reclaim the 58,000 psychological mark, while the 58,200–58,300 region remains the immediate resistance zone. A sustained breakout above this band would reinforce bullish momentum and could extend the recovery towards the 58,600–58,700 region.
On the downside, the 57,500–57440 zone remains the immediate support area. Holding above this region will be crucial to preserve the prevailing positive structure.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: Minda Corporation Ltd, Honasa Consumer Ltd, Bajaj Auto Ltd, Bharat Electronics Ltd (BEL), SBI Life Insurance Company Ltd, Praj Industries Ltd, Ashok Leyland Ltd, and Skipper Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Minda Corporation in cash at ₹709; SL at ₹685; TGT at ₹755
Buy Honasa Consumer in cash at ₹466; SL at ₹450; TGT at ₹498
Ganesh Dongre’s buy or sell stocks
Buy Bajaj Auto at ₹9,842; sl at ₹9,700; tgt at ₹1,0250
Buy BEL at ₹416; SL at ₹408; tgt at ₹428
Buy SBI Life Insurance at ₹1,790; sl at ₹1,680; tgt at ₹1,850
Shiju Koothupalakkal’s intraday stocks for today
Buy Praj Industries cmp: ₹362 Target: ₹384 Stop loss: ₹353
Buy Ashok Leyland cmp: ₹162.30 Target: ₹172 Stop loss: ₹158
Buy Skipper cmp: ₹557 Target: ₹590 Stop loss: ₹545
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.