Weekly Edition
| NIFTY 50 | 24,271 | ▲ 0.39% |
| NIFTY Bank | 57,939 | ▼ 0.16% |
| NIFTY IT | 27,439 | ▲ 1.76% |
| India VIX | 11.80 | ▼ 3.98% |
| SENSEX | 77,764 | ▲ 0.34% |
| USD / INR (ref.) | 95.21 | ▼ 0.19% |
| Gold (COMEX, US$/oz) | 4,179 (≈ ₹1,27,922/10g) | ▲ 1.61% |
| Brent Crude (US$) | 72.06 | ▲ 0.36% |
Provisional cash-market flows: FIIs net bought ₹1,355.33 cr · DIIs net sold ₹1,953.89 cr.
Source: FII/FPI & DII trading activity on NSE, BSE & MSEI, Capital Market segment. Provisional, subject to revision.
IT stocks lead a quiet weekly close
Indian equity benchmarks ended Friday's session with modest gains, as a sharp rally in technology stocks lifted the NIFTY 50 while banking shares edged slightly lower.
The NIFTY 50 closed at 24,271, up 0.39% on the day, while the SENSEX settled at 77,764, a gain of 0.34%. The standout performer among sectoral indices was NIFTY IT, which closed 1.76% higher at 27,439. The advance in IT stocks was broadly linked to a weaker-than-expected US jobs report, which tempered expectations of further Federal Reserve rate tightening and lifted sentiment toward export-oriented technology companies. NIFTY Bank, by contrast, slipped 0.16% to close at 57,939, as selling pressure in that segment offset broader market positivity.
Market volatility eased noticeably, with India VIX falling 3.98% to 11.80, reflecting a calmer mood among participants heading into the weekend. On the institutional flow front, Foreign Institutional Investors were net buyers in the cash segment at approximately Rs 1,355 crore, while Domestic Institutional Investors were net sellers at around Rs 1,954 crore. The Indian rupee closed the day at 95.21 against the US dollar, a marginal intraday improvement of 0.19%, though it ended the week on a weaker footing overall, weighed down by merchant and offshore-linked dollar demand according to currency market reports.
Gold rises; crude steady; crypto rallies
- Gold. COMEX gold rose 1.61% to US$ 4,179 per ounce, equivalent to approximately Rs 1,27,922 per 10 grams. The move was driven by a softer US dollar and renewed expectations that the Federal Reserve may ease its rate path following weaker US employment data.
- Brent Crude. Brent crude edged up 0.36% to US$ 72.06 per barrel on the day. Separately, Citi has projected that Brent could slide toward US$ 60 per barrel by year-end, citing easing geopolitical tensions around the Strait of Hormuz and a resumption of normal shipping activity in Gulf trade routes.
- US Markets. The US session for Friday, 3 July is yet to conclude at the time of this wrap. The weaker-than-expected US jobs report released earlier in the day had already influenced sentiment across Asian and Gulf markets, with UAE indices rising sharply in response.
- Cryptocurrencies. Bitcoin climbed above the US$ 61,000 level in the past 24 hours, gaining approximately 2.80%, as the softer US jobs data fuelled speculation about potential Federal Reserve rate cuts. Ethereum rose 6.24% to trade around US$ 1,716, and several major altcoins gained up to 6.68%.
- USD / INR. The rupee's reference rate was fixed at 95.21, reflecting a slight daily recovery but a week-on-week depreciation. Market reports attributed the weekly weakness to strong dollar demand from importers and activity in the non-deliverable forward market.
SENSEX and NIFTY 50: Two numbers, one market — what sets them apart
Indian investors encounter two headline numbers every market day: the SENSEX and the NIFTY 50. Both measure the performance of large, well-established Indian companies listed on domestic exchanges, and on most days they move in broadly the same direction — as they did on Friday, with the SENSEX gaining 0.34% and the NIFTY 50 gaining 0.39%. Despite this similarity in direction, the two indices are built differently and serve different purposes.
On Friday, the SENSEX closed at 77,764 and the NIFTY 50 at 24,271 — both moved in the same direction, yet they are constructed quite differently.
The SENSEX, formally known as the S&P BSE SENSEX, is maintained by BSE Ltd (formerly the Bombay Stock Exchange) and tracks 30 of the largest and most actively traded companies listed on BSE. It has been in existence since 1986, making it India's oldest equity index, and its base year is 1978-79 with a base value of 100. The NIFTY 50, on the other hand, is owned and managed by NSE Indices Ltd, a subsidiary of the National Stock Exchange. As its name suggests, it tracks 50 companies listed on the NSE, offering a somewhat broader snapshot of large-cap India. Its base year is 1995, with a base value of 1,000. Both indices use a free-float market capitalisation methodology, meaning they weight companies based on the portion of shares actually available for public trading rather than total shares issued.
For a retail investor, the practical difference is one of breadth and exchange affiliation rather than fundamental divergence in direction. Because the NIFTY 50 includes 50 stocks against the SENSEX's 30, it captures a slightly wider slice of the large-cap universe, which can occasionally produce small differences in daily percentage moves — as seen today. Most mutual funds benchmarked to large-cap indices in India use the NIFTY 50 or the NIFTY 100, while some older funds and certain exchange-traded products reference the SENSEX. Understanding which benchmark a fund uses helps an investor make a like-for-like comparison when evaluating how a fund has performed relative to the broader market. This is a factual characteristic of the indices, not a basis for any investment decision.
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