Stock market today: Indian benchmark indices, Sensex and Nifty 50, opened higher on Monday, 6 July supported by strong gains in private banking stocks after robust June-quarter business updates from HDFC Bank and Axis Bank, while easing crude oil prices further boosted investor sentiment.
At 9:20 IST, the Nifty 50 was up 0.35% at 24,354.80, while the BSE Sensex gained 0.39% to 78,065.23.
Market breadth remained positive, with 14 of the 16 major sectoral indices trading in the green. The Nifty Bank and Financial Services indices rose around 0.5% each, led by nearly 2% gains in HDFC Bank and Axis Bank.
Over the weekend, HDFC Bank reported a 15.4% year-on-year increase in gross advances for the June quarter, while period-end deposits rose 14.7%. Axis Bank also posted healthy business momentum, reporting an 18.8% year-on-year growth in gross advances during the quarter.
The buoyancy in the equity market is well supported by convergence of favourable macroeconomic tailwinds:
- Easing of geopolitical tension
- Falling crude oil prices
- Rupee appreciation
- RBI’s slew of measures to attract foreign flows into debt instruments
- Q4FY26 GDP growth
- Lower expectations of Fed’s rate hikes
Key Monitorable
- Fed Minutes
- Commencement of Q1 earnings
Stock To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Shriram Finance, and Piramal Pharma.
Buy Shriram Finance in the range of ₹1,038-1,060. He has Shriram Finance share price target of ₹1,134 with a stop loss of ₹1,008.
Buy Piramal Pharma in the range of ₹172-176. He has Piramal Pharma share price target of ₹188 with a stop loss of ₹167.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 03/07/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
