Indian Market Close
The Nifty 50 index closed at 24,137.35 on July 02, edging higher from the previous session's close of 24,005.85, gaining 131.50 points or 0.55%. The benchmark index traded in a range of 24,058.80 to 24,159.45 during the session. The Sensex advanced over 300 points, maintaining positive momentum through the closing bell.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,137.35 | +131.50 | +0.55% |
| Sensex | — | +300 pts | — |
Session Drivers
The Indian cash market opened at 24,062.20, maintaining a steady upward bias through the afternoon session. Market breadth remained positive as participants positioned ahead of the weekly expiry on July 07.
Options activity showed heightened put writing at the 24,000 and 24,100 strikes, with the 24,000 PE shedding ₹56.80 to close at ₹74.90. The 24,100 PE declined ₹70.35 to ₹110.95, while the 23,900 PE fell ₹43.35 to ₹49.30, signaling strong support below current levels.
GIFT NIFTY Session
GIFT NIFTY closed at 24,243.5, up 91.5 points or 0.38% from the previous close of 24,152.0. The derivative contract opened Session I at 24,127.0 and traded in a range of 24,112.0 to 24,270.0 during the day.
| Metric | Level |
|---|---|
| LTP | 24,243.5 |
| Open | 24,127.0 |
| High | 24,270.0 |
| Low | 24,112.0 |
| Change | +91.5 (+0.38%) |
The derivative contract tracked the cash market's modest gains, witnessing a sharp selloff during the 12:30-12:45 IST window when prices dropped from 24,193.0 to a session low of 24,112.5 before recovering. The contract rallied into the close, climbing from 24,175.5 at 15:30 IST to touch an intraday peak of 24,270.0 during post-market hours.
Session II Outlook
GIFT NIFTY heads into the overnight session at 24,243.5, trading at a premium to the Nifty 50 spot close. The contract maintains positive bias as participants await global cues ahead of Thursday's trading.