India Stocks: Indian shares open higher on easing Fed rate-hike bets

Marico

03/07/2026 04:50

Updates for markets open

    BENGALURU, July 3 (Reuters) - Indian shares opened higher on Friday, led by information technology companies, after a softer U.S. jobs report eased worries about the Federal Reserve increasing interest rates in the near term and improved risk appetite for emerging markets.
The benchmark Nifty 50 .NSEI rose 0.83% to 24,375.65, while the BSE Sensex .BSESN added 0.84% to 78,152.34, as of 9:15 a.m. IST.
Fifteen of the 16 major sectors logged gains at the open. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.5% and 0.4%, respectively.
IT companies .NIFTYIT, which earn a significant share of their revenue from the U.S., rose 1.9% and led the sectoral gains.
U.S. job growth slowed sharply in June and payroll gains for the prior two months were revised lower, pointing to a cooling labour market and prompting financial markets to dial back expectations for a near-term rate hike.
Lower U.S. interest rates encourage capital flows to emerging markets like India and aid growth and client spending in the U.S., which is positive for Indian IT companies.
HCLTech HCLT.NS surged 5.2% after announcing a $1.14 billion strategic partnership with a European firm.

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Subhranshu Sahu and Harikrishnan Nair)
((vivekkumar.m@thomsonreuters.com))