Equity benchmark indices opened higher on July 6, 2026, as investors reacted to upbeat quarterly business updates from major lenders, easing crude oil prices, and a return of foreign portfolio investor (FPI) inflows in the previous week.
At 9:25 AM, the BSE Sensex was up by 284.44 points, or 0.37 per cent, at 78,048.35. Likewise, the NSE Nifty 50 started higher by 75.95 points, or 0.31 per cent, at 24,346.80.
The broader market was largely flat. The Nifty Midcap 100 and Nifty Smallcap 100 traded near unchanged levels, while the Nifty 500 and Nifty Microcap 250 were marginally in the green.
Except for Nifty Oil & Gas, Nifty PSU Bank, Nifty IT and Nifty FMCG, all sectoral indices traded higher. Nifty Pharma and Nifty Healthcare led the gains, rising over 0.50 per cent each. They were followed by Nifty Bank, Nifty Auto, Nifty Financial Services, Nifty Metal and Nifty Private Bank, which advanced 0.30-0.50 per cent in early trade.
Within the Nifty 50 pack, defence manufacturer Bharat Electronics, private sector lenders HDFC Bank, ICICI Bank and Axis Bank, metals producer Hindalco, and two-wheeler maker Bajaj Auto were among the top gainers, rising 1-2.50 per cent.
On the losing side, private lender Kotak Mahindra Bank, financial services firm Bajaj Finserv, power transmission utility Power Grid, IT services companies Tata Consultancy Services (TCS) and Wipro, FMCG major ITC, and airline operator InterGlobe Aviation, the parent of IndiGo, were the main drags on the benchmark.
Q1 Business Updates From Major Banks
Over the weekend, HDFC Bank reported a 15.40 per cent year-on-year rise in gross advances to Rs 30.61 lakh crore, while deposits grew 14.70 per cent to Rs 31.70 lakh crore.
Axis Bank posted an 18.80 per cent increase in advances and an 18.20 per cent rise in deposits, while Kotak Mahindra Bank reported a 15.10 per cent growth in net advances and an 11.70 per cent increase in deposits, signalling healthy credit demand ahead of the earnings season.
Softer Crude Prices
Crude oil prices eased in early deals today after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to raise production targets from August, raising expectations of higher global supply. The decline was also supported by the recovery in crude exports through the Strait of Hormuz after recent disruptions.
The producer group, which includes Russia, approved another production increase of 188,000 barrels per day for August, following similar hikes for June and July. However, Reuters reported that actual output has lagged planned increases, with the recent Iran-Israel conflict disrupting tanker movements through the Strait of Hormuz and limiting exports from key producers such as Saudi Arabia, Kuwait and Iraq.
