IT Stocks Fire Up Dalal Street as Sensex Jumps 450 Points and Nifty Reclaims 24,300

On the last trading day of the week, 3 July, Indian markets opened strong. A big HCLTech deal lifted IT stocks, pushing the Sensex up 450.78 points to 77,952.90 and the Nifty to 24,314.45.

The final trading session of the week brought cheer to Indian equities. As markets opened on 3 July, buying interest was so strong that both key indices moved firmly into the green. The biggest push came from the IT sector, where HCLTech saw heavy buying. In early trade itself, the National Stock Exchange's Nifty crossed the crucial 24,300 mark, putting a smile back on investors' faces on Dalal Street.

 At the start of the session, the Sensex climbed a solid 450.78 points to reach 77,952.90. The Nifty, meanwhile, rose 138.75 points to trade at 24,314.45. The early session saw broad-based buying, with around 123 stocks advancing while 44 opened in the red and 5 stayed flat.

 

Why HCLTech's Stock Took Off
 The real driver behind the day's big rally was IT major HCLTech. At 09:26 am, as the market opened, its stock stood at ₹1120.05, up 3.95 percent, close to 4 percent, making it the top gainer. The reason is a major one. HCLTech has bagged a $1.14 billion mega strategic contract with a Fortune Global 50 company headquartered in Europe. Under the deal, the company will use an AI-based operating model to completely transform the client's digital workplace and enterprise network operations. It is among the biggest deals announced by any Indian IT services company this year, and the news left investors delighted.

 

Other Gainers, and the Laggards
 Beyond HCLTech, several other stocks from the IT and metal sectors helped pull the market higher. Bajaj Finserv traded 2.68 percent up at ₹1905.85, Tata Steel gained 2.22 percent to ₹191.30, and Tech Mahindra rose 2.14 percent to ₹1415.00. Alongside them, TCS held firm with a 1.88 percent gain and Infosys with a 1.24 percent rise, both in positive territory.

 On the other side, even in a rising market a few select stocks faced selling pressure. Among those that weakened in early trade was NTPC, down 0.56 percent at ₹356.35. Shares of Adani Ports, Mahindra & Mahindra, State Bank of India and IndiGo also saw minor declines in the red.

What this means for you
• For investors: The surge in IT and metal stocks lifted the portfolio value of anyone holding shares like HCLTech, Tata Steel or Bajaj Finserv in early trade.
• For market watchers: Nifty moving above 24,300 signals a positive market mood, though declines in NTPC and some banking stocks are a reminder to stay watchful.

Questions & Answers

1. Where did the Sensex and Nifty reach on 3 July?
In early trade the Sensex rose 450.78 points to 77,952.90 and the Nifty gained 138.75 points to reach 24,314.45.

2. What was the main reason behind the rally?
Heavy buying in the IT sector, especially in HCLTech, played the biggest role in lifting the market.

3. How much did HCLTech's stock gain?
At 09:26 am, HCLTech traded at ₹1120.05, up 3.95 percent, close to 4 percent, making it the top gainer.

4. What big deal did HCLTech win?
The company secured a $1.14 billion mega strategic contract with a Fortune Global 50 firm headquartered in Europe, under which it will use an AI-based model to transform the client's digital workplace and network operations.

5. Which other stocks were among the gainers?
Bajaj Finserv up 2.68 percent, Tata Steel up 2.22 percent, Tech Mahindra up 2.14 percent, TCS up 1.88 percent and Infosys up 1.24 percent all traded in the green.

6. Which stocks saw declines?
NTPC fell 0.56 percent to ₹356.35, while Adani Ports, Mahindra & Mahindra, State Bank of India and IndiGo also posted minor declines.

7. How many stocks rose and fell in early trade?
Around 123 stocks advanced, while 44 opened in the red and 5 stayed unchanged.

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