The Indian market saw gains in the second half of the trading session to close in the green near the day’s high. Financial stocks were the top contributors to the Nifty, with the HDFC twins closing the day as the top gainers.

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The Nifty gained 70 points to close at 10,770 and the Sensex gained 267 points to 35,645. Broader markets also had a good day with the Nifty Bank index surging 230 points to 26,434 and the Midcap index closing with a gain of 26 points at 18,256.

Besides financials, auto stocks continued to gain after reporting strong sales in the month of June. The four wheeler major, Maruti, closed at its one-month high and Bajaj auto surged 4%.

Stocks of auto parts and equipment makers, Bharat Forge and MM Forgings gained on reports of Class 8 truck orders in North America hitting 42,200 units in June on the back of continued strong freight market demand for more trucks.

In the future markets, Nifty 10,800 and 10,900 call options saw some traction with both the options adding 1.3-2.5 lakh shares in the open interest with premium moving 17.19% higher. Amongst Put calls, maximum addition of open interest was seen in 10,500, 10,700 and 10,800 calls. Nifty July futures erased its premium to close with a discount of 4 points against a premium of 24 points on Tuesday.

On the global front, Asian stocks closed in negative territory, with China markets failing to sustain gains notched in the last session as trade jitters continued to simmer ahead of a deadline when tariffs are due to take effect.

In Japan, the Nikkei 225 declined 0.3% to close at 21,717, notching a third consecutive session of declines. The electric appliances sector was among the worst performing, sliding 1.9% by the end of the day. The semiconductor industry plays also sank, with Tokyo Electron down 4.4%, while utilities and mining names gained.

South Korean stocks failed to hold onto early gains, with the Kospi closing lower by 0.3% at 2,265. Meanwhile, Hong Kong's Hang Seng Index fell 1%, extending the previous session's losses, with the heaviest declines seen in the energy and real estate sectors.

On the mainland, the Shanghai composite tracked lower once again, falling 0.9% 4 percent to close at 2,760.59 after recording late gains in the previous trading session. The smaller Shenzhen composite suffered a heavier drop, closing down 2%.

First Published:Jul 4, 2018 4:02 PM IST