On the macro front, India's gross GST collections rose 13.9% year-on-year to Rs 1.95 lakh crore in June, signalling sustained strength in domestic demand and healthy external trade. However, the HSBC India Manufacturing PMI eased to 54.2 in June from 55.0 in May, indicating a moderation in factory activity, though it remained comfortably in expansion territory. Meanwhile, the rupee weakened against the U.S. dollar during the session.

The Nifty settled above the 24,000 level. Realty, FMCG and media stocks advanced, while IT, metal and Pharma shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex gained 443.97 points or 0.58% to 76,922.64. The Nifty 50 index jumped 140.10 points or 0.59% to 24,005.85. In the past two consecutive trading sessions, the Sensex dropped 0.80% while the Nifty fell 0.79%.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index jumped 0.29% and the BSE 250 SmallCap Index rallied 0.19%.

The market breadth was positive. On the BSE, 2,273 shares rose and 1,998 shares fell. A total of 189 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.62% to 13.24.

In the commodities market, Brent crude for Sep 2026 settlement fell 58 cents or 0.80% to $72.37 a barrel.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.2350 compared with its close of 94.5600 during the previous trading session.

Economy:

India's HSBC Manufacturing PMI eased to 54.2 in June from 55.0 in May. According to the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), a composite measure of overall business conditions based on new orders, output, employment, supplier delivery times, and stocks of purchases, the manufacturing sector recorded its second-weakest improvement since mid-2022, surpassing only March. Despite the moderation, growth remained robust and broadly in line with the series' long-run average.

India's gross Goods and Services Tax (GST) collections rose 13.9% year-on-year to Rs 1.95 lakh crore in June 2026 from Rs 1.71 lakh crore in the corresponding month last year, reflecting healthy domestic consumption and robust external trade, according to data released by the Finance Ministry. Gross GST revenue from domestic transactions increased 6.5% year-on-year to Rs 1,34,774 crore, while collections from imports surged 34.6% to Rs 60,038 crore, driven by strong trade activity. Despite a sharp rise in refunds, particularly for domestic transactions, net GST collections grew 11.2% year-on-year to Rs 1.62 lakh crore in June 2026 from Rs 1.46 lakh crore a year earlier.

New Listing:

Shares of Waterways Leisure Tourism were at Rs 667.35 on the BSE, representing a discount of 17.41% as compared with the issue price of Rs 808.

The stock debuted at Rs 690, marking a discount of 14.6% to the issue price.

The stock has hit a high of Rs 722 and a low of Rs 623.30. On the BSE, over 3.01 lakh shares of the company were traded in the counter.

Shares of Advit Jewels were at Rs 178.15 on the BSE, representing a premium of 29.09% as compared with the issue price of Rs 138.

The stock debuted at Rs 187, marking a premium of 35.51% to the issue price.

The stock has hit a high of Rs 190 and a low of Rs 177.65. On the BSE, over 10.49 lakh shares of the company were traded in the counter so far.

Initial Public Offer (IPO):

Knack Packaging received bids for 4,15,34,856 shares as against 1,89,64,018 shares on offer, according to stock exchange data at 15:45 IST on 01 July 2026. The issue was subscribed 2.19 times.

The issue opened for bidding on 01 July 2026 and it will close on 03 July 2026. The price band of the IPO is fixed between Rs 161 and 170 per share. An investor can bid for a minimum of 88 equity shares and multiples thereof.

Aastha Spintex received bids for 6,18,56,850 shares as against 1,36,00,000 shares on offer, according to stock exchange data at 15:45 IST on 01 july 2026. The issue was subscribed 4.55 times.

The issue opened for bidding on 29 June 2026 and it will close on 01 July 2026. The price band of the IPO is fixed between Rs 125 and 136 per share. An investor can bid for a minimum of 110 equity shares and multiples thereof.

Buzzing Index:

The Nifty Realty index climbed 3.58% to 859.25. The index rallied 4.93% in two consecutive trading sessions.

Aditya Birla Real Estate (up 5.36%), DLF (up 4.51%), Godrej Properties (up 4.47%), Prestige Estates Projects (up 4.16%), Lodha Developers (up 3.95%), Phoenix Mills (up 3.2%), Sobha (up 2.58%) and Oberoi Realty (up 2.31%) advanced.

On the other hand, Anant Raj (down 0.82%) and Brigade Enterprises (down 0.13%) edged lower.

Auto sales

Ashok Leyland advanced 2.82% after the company reported a 25.18% increase in total vehicle sales (domestic and exports) to 19,194 units in June 2026, compared with 15,333 units sold in June 2025.

Escorts Kubota rose 0.44%. The company reported a 19.1% year-on-year increase in tractor sales for June 2026, with total volumes rising to 13,695 units compared to 11,498 units in June 2025.

Steel Strips Wheels (SSWL) jumped 6.84% after the company reported a net turnover of Rs 479.87 crore for June 2026, marking a 36.84% year-on-year (YoY) increase compared to Rs 350.67 crore recorded in June 2025.

VST Tillers Tractors rose 2.57%. The company reported a 3.02% year-on-year increase in total sales for June 2026, with overall volumes rising to 8,107 units from 7,869 units in June 2025.

SML Mahindra slipped 3.12%. The company said that it had sold 1,930 units in June 2026, registering a growth of 3% from 1,871 units sold in the same period last year.

Stocks in Spotlight:

Paisalo Digital climbed 18.20% after the promoter shareholding in the company increased to 46.72% in Q1 FY27 from 41.75% in FY26 following a series of open-market acquisitions.

GNG Electronics was locked in 5% upper circuit after the company entered into a strategic pan-India distribution partnership with Redington.

RITES zoomed 12.52% after it received a Project Management Consultancy (PMC) order worth Rs 175.41 crore from Babasaheb Bhimrao Ambedkar University (BBAU).

EPACK Durable advanced 2.28% after the company received approval from the Government of Andhra Pradesh for a tailor-made incentive package under the Mega Category of the Andhra Pradesh Electronics Manufacturing Policy (4.0).

ZF Commercial Vehicle Control Systems India declined 2.99% after the company said its chief financial officer (CFO) & key managerial personnel (KMP), Sweta Agarwal, has resigned effective from the close of business hours on 30 June 2026.

VA Tech WABAG rallied 3.49% after it has secured a large international order from the City of Vienna's Municipal Department MA 31 ' Wiener Wasser for the expansion of the Donauinsel Water Works in Vienna, Austria.

Ola Electric Mobility advanced 2.49% after the company announced that it has registered 43,719 vehicles in Q1 FY26, nearly doubling from 22,252 vehicles in Q4 FY25, according to VAHAN data.

KPIT Technologies slumped 16.45% after the company said it expects Q2 FY27 revenue to remain in a similar range as Q1 FY27, indicating that the near-term weakness in demand is likely to persist.

Transformers & Rectifiers (India) rose 1.49% after the company received an ultra-mega order from Power Grid Corporation of India (PGCIL) for the manufacturing of transformers of various ratings, along with all associated works.

Zaggle Prepaid Ocean Services added 1.35% after it has entered into a five-year agreement with Hindustan Petroleum Corporation (HPCL) for its flagship Drive Track Plus fleet programme.

Global Markets:

The US Dow Jones index futures were currently down by 105 points, signalling a negative opening for US stocks today.

Most European markets traded lower on Wednesday as investors turned cautious amid a closely watched panel discussion featuring global central bank leaders, including newly appointed Federal Reserve Chair Kevin Warsh, which kept rate outlook expectations in focus. Sentiment remained mixed despite eurozone inflation easing to 2.8% in June 2026 from 3.2% in May and coming in below expectations of 3.0%, according to preliminary data.

Asian markets ended mixed as investors remained cautious at the start of the new quarter amid uncertainty surrounding U.S.-Iran negotiations. Market sentiment was also tempered by rising U.S. Treasury yields and anticipation of key U.S. economic data, although optimism over the upcoming earnings season helped limit losses.

Tehran said on Tuesday it would not meet with top U.S. envoys who had flown to the region, with the two sides still far apart on a framework that would fully open the Strait of Hormuz.

Bond markets were also under pressure after U.S. Treasury yields spiked overnight as futures narrowed the odds-on rate hikes from the Federal Reserve ahead of crucial jobs figures on Thursday.

All eyes will thus be on Fed Chair Kevin Warsh when he appears at a European Central Bank conference later in the session, for any guidance on the need for a tightening.

Investors were also on alert for possible Japanese intervention as the yen plumbed fresh 40-year lows. According to public data, the Japanese yen fell to 162.28 per dollar as the currency extended losses from the previous session.

Overnight on Wall Street, stocks rose on Tuesday, boosted by sharp gains in chips, as Wall Street wrapped up a strong first half and second quarter.

The Dow Jones Industrial Average gained 136.46 points, or 0.26%, for a record close of 52,319.20. The S&P 500 rose 0.79% to end at 7,499.36, and the Nasdaq Composite climbed 1.52% to 26,213.72.

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