Pre-Market 2 July 2026: What To Expect As Sensex Rises 444 Points, Nifty Reclaims 24,000; GIFT Nifty Signals Strong Start

Buyers returned to the market on Wednesday, helping benchmark indices recover part of the recent decline.

By the closing bell, the Sensex had risen 443.97 points to 76,922.64. The Nifty 50 ended at 24,005.85, gaining 140.10 points. The rebound came even as foreign investors remained net sellers and the rupee recorded a sharp decline against the US dollar.

Why Did Markets Bounce Back On Wednesday?

Benchmark indices snapped a two-session losing streak and recovered above key technical levels.

Among the major gainers in the Sensex pack were Eternal, Asian Paints, Hindustan Unilever, Adani Ports, Mahindra & Mahindra and State Bank of India. On the other hand, HCL Tech, Tech Mahindra, Tata Consultancy Services, Tata Steel and Infosys ended in the red.

Lower crude prices provided some support to sentiment. Brent crude slipped 1.07% to $72.17 per barrel, easing concerns around energy costs.

Foreign institutional investors, however, continued to reduce exposure. Exchange data showed FIIs sold equities worth ₹2,556.75 crore on Tuesday.

The rupee weakened sharply, falling 67 paise to close at 95.23 against the US dollar.

How Did Global Markets Perform After Indian Market Hours?

US markets traded in the negative zone on Wednesday as investors assessed comments from Federal Reserve Chair Kevin Warsh.

Warsh said inflation risks had eased in recent weeks while reiterating the central bank's commitment to bringing inflation back to its 2% target.

On 1 July:

• Dow Jones Industrial Average fell by 13.96 points to close at 52,305.24

• S&P 500 shed 16.13 points to 7,483.23

• Nasdaq Composite fell 173.69 points to close at 26,040.03

Asian markets delivered a mixed performance.

• Nikkei 225 rose 412.64 points to 70,474.96

• Straits Times Index slipped 9.15 points to 5,161.50

• Hong Kong's Hang Seng stood at 22,881.02, down 145.66 points.

European markets closed in the red zone.

• FTSE traded at 10,478.34, down 18.78 points

• CAC stood at 8,337.29, lower by 66.70 points

GIFT Nifty Update

By 22:00 IST on 1 July, GIFT Nifty was trading at 24,165.00, up 121 points, or 0.50%. The futures contract was trading well above Nifty's closing level of 24,005.85, indicating a positive start for Thursday's session.

Key Levels To Watch For Nifty

The index continues to hold above its short- and medium-term moving averages.

Support Level

23,800

Analysts view this area as an important cushion for the market. The 20-day and 50-day exponential moving averages are positioned around this range.

Resistance Levels

24,500-24,600 zone

A sustained move above 24,100-24,200 could improve momentum and shift attention towards higher resistance levels.

Also Read - Market Wrap, 1 July 2026: Sensex And Nifty 50 End On A Positive Note

What Should Investors Expect Today?

Investors will continue to track foreign fund activity after another round of FII selling and the sharp fall in the rupee.

Movements in crude oil prices remain important after Brent slipped again. Market participants will also watch whether Nifty can build on Wednesday's rebound after reclaiming the 24,000 level.

Global cues may remain supportive after comments from the US Federal Reserve chief suggested inflation pressures have moderated, while GIFT Nifty points to a firm start for domestic equities.