Indian shares rise as easing oil, IT rebound drive gains

Mphasis

02/07/2026 07:49

** India's Nifty 50 .NSEI and Sensex .BSESN up 0.4% each, set for second day of gains
** Rise comes after Brent crude futures drop below $71 per barrel as Qatar says Iran and U.S. made "positive progress" in indirect talks that concluded on Wednesday
** Gains also driven by a 4.3% jump in IT stocks .NIFTYIT, led by Coforge COFO.NS, up 6%, Mphasis MBFL.NS, up 5.6%, and Infosys INFY.NS, up 5.4%
** The IT index has risen on value buying after losing 6.5% over the last 4 sessions, says Sunny Agrawal, head of fundamental equity research at SBICAPS Securities
** Broader small- .NIFSMCP100 and mid-caps .NIFMDCP100 up 0.8% and 0.5%, respectively
** Among other stocks, Dhanlaxmi Bank DNBK.NS and Jammu and Kashmir Bank JKBK.NS rise 5% and 3.7%, respectively, after reporting strong quarterly business updates

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))