Gift Nifty Signals Positive Start As Indices Eye Recovery Momentum

Indian benchmark indices are poised for a positive opening today, July 2, 2026, as Gift Nifty trades at 24,187.5, reflecting a 95-point premium over previous futures. This follows a strong recovery session on July 1, where the Sensex climbed 443.97 points to close at 76,922.64 and the Nifty 50 gained 140.10 points to settle at 24,005.85.

The market's renewed optimism is largely fueled by cooling global crude oil prices and a significant reduction in volatility. The India VIX dropped 2.65% to a multi-session low of 13.24, signaling that investors are shedding apprehension. While FIIs remained net sellers at ₹1,140.50 crore, the robust ₹3,159.20 crore injection from DIIs provided the necessary cushion to snap the recent two-day losing streak.

Analysts have set immediate support for the Nifty 50 at 23,900, with resistance capped at 24,150. For the Sensex, the 77,200 mark remains the primary hurdle. Investors should monitor sectoral rotation, as FMCG and Auto stocks currently lead the recovery, while the IT sector faces headwinds after a 2.01% decline in the previous session.