Nifty Holds Above 24,250; HCL Tech Jumps on $1.14 Billion AI Deal - Paper by Pocketful

Jul 03, 2026

HCL Technologies (+5.65%): Shares gained after signing a $1.14 billion strategic deal with a European company to build an AI-driven digital workplace and enterprise network model through 2031.
BLS E-Services (+4.93%): Shares rose after acquiring a 100% stake in Atyati Technologies for ₹157 crore, strengthening its AI-led banking technology and financial solutions capabilities.
Hitachi Energy India (-8.10%): Shares plunged after a Finance Ministry memo granted four Chinese firms a two-year exemption to participate in state-run tenders.
Bharat Petroleum Corporation (+0.74%): Shares declined despite BPRL Ventures acquiring the remaining 39.14% stake in IBV Brasil Petroleo for ₹2,312 crore, enhancing energy assets.

Nifty Realty (+2.19%): The index emerged as the top sectoral gainer today, led by Lodha Developers, DLF, and Oberoi Realty. Strong housing demand, robust project pipelines, easing interest-rate expectations, and sustained investor confidence in the real estate sector supported the rally.
Nifty Healthcare (+1.80%): The index rallied on strong defensive buying, with 19 gainers and 1 loser. Gains were driven by optimism around robust domestic demand, steady export growth, and expectations of healthy quarterly earnings from major pharmaceutical companies.
Nifty PSU Bank (-1.54%): The index declined for the second consecutive session, led by losses in SBI, Union Bank, and Bank of Baroda. Profit booking, cautious positioning ahead of quarterly earnings, and continued pressure on Bank of Baroda following its NMC Health settlement weighed on sentiment across the sector.
Nifty Energy (-1.33%): The index edged lower, with 8 gainers & 31 losers. Profit booking in heavyweight stocks, subdued sentiment in the power and energy space, and cautious investor positioning ahead of quarterly earnings weighed on the sector.

Technical Level: Nifty opened with a strong gap-up and faced immediate resistance at 24,375 near the day’s high. Despite multiple attempts, the index failed to break above the resistance and gradually drifted lower throughout the session. It found support around 24,250 and closed near that level, ending the day in positive territory.
Advance-Decline Ratio: Market breadth remained positive, with 1,823 stocks advancing against 1,513 declining, indicating buying interest slightly outpaced selling despite a volatile trading session.
The Big Picture: OpenAI has reportedly proposed giving the U.S. government a 5% stake, valued at about $42.6 billion, to ease political pressure and share AI gains with the public. CEO Sam Altman also suggested a similar model for other leading AI firms, though the proposal remains in early discussions and lacks official confirmation.
FII/DII Activity (July 03, 2026): DIIs sold ₹1,954 crore, while FIIs bought ₹1,355 crore, indicating foreign investors turned net buyers as domestic institutions booked profits.

Resilience

Meaning: The ability to recover quickly from setbacks, challenges, or difficult situations.

Example: Despite market volatility, the company’s resilience helped it deliver strong long-term returns.

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