Market Wrap, July 2: Here's all that happened in the markets today

The Indian benchmark indices gained over one per cent on Thursday, lifted by a rally in auto and IT stocks.

The S&P BSE Sensex climbed 429 points or 1.2 per cent to settle at 35,844 levels. The index had breached the level of 36,000 in intra-day for the first time since March 11. The broader Nifty50 index settled at 10,552, up 122 points, or 1.17 per cent. Volatility index, India VIX, declined nearly 6 per cent to 26.50 levels. 

Mahindra & Mahindra (up 6 per cent) ended as the top Sensex gainer, followed by Titan and HCL Tech. IT stocks made decent gains in the trade. The stocks have surged up to 9 per cent in the past one week after Accenture came out with better-than-expected financial results for the quarter ended May 2020. 

Sectorally, most indices on the NSE ended in the green. While Nifty Auto rallied nearly 3 per cent to 6,907 levels, the Nifty IT index gained 2.65 per cent to 15,122.55 levels. On the other hand, Nifty Bank and Nifty Realty indices ended flat with negative bias. 

The broader market, too, participated in the rally. The S&P BSE MidCap gained 1 per cent while S&P BSE SmallCap index ended 0.92 per cent higher.