Key facts
- Sensex settled 261 points higher on July 3
- Markets rose for a third consecutive session
- HCLTech surged nearly 6%, leading IT rally
- Nifty topped 24,300 during early trade
Indian stock markets closed in the green for a third straight session on Thursday, with the BSE Sensex settling 261 points higher as a broad-based rally in information technology stocks provided the key thrust, according to NDTV and India Today. The Nifty50 also ended higher, having briefly crossed the 24,300 level in early trade when the Sensex had surged over 500 points.
HCLTech was the standout performer of the session, surging nearly 6% and emerging as one of the top gainers on the benchmark indices. The IT sector's outperformance came amid mixed global cues, with markets drawing confidence from expectations around global technology spending and favourable currency movements that tend to benefit export-heavy IT companies.
The three-day winning streak signals a meaningful recovery in investor sentiment after periods of volatility driven by global trade tensions and macroeconomic uncertainty. IT stocks, which had faced pressure earlier in the year, appear to be regaining favour as earnings visibility improves and large outsourcing deals continue to be announced by Indian technology majors.
Market analysts will be watching whether this momentum can sustain through the coming sessions, particularly as fresh economic data — including the services PMI slipping to a 17-month low — introduces some caution about the pace of domestic demand growth.