Indian equity benchmarks extended their winning streak to a fourth consecutive session on Monday, supported by strong buying in realty, auto, oil and gas stocks.

The Nifty closed 159.50 points, or 0.66 per cent, higher at 24,430.35, while the Sensex advanced 521.16 points, or 0.67 per cent, to settle at 78,285.07.

Commenting on Nifty technical outlook, experts said that the 24,500–24,600 zone will remain a crucial region to watch in the upcoming sessions, as a decisive move above this band could confirm the continuation of the ongoing bullish trend.

“On the downside, the 24,200 level is expected to act as immediate support in case of any profit booking, followed by the 24,000 psychological zone, which remains the crucial zone,” an analyst said.

Among the Nifty constituents, HDFC Bank, Hindalco Industries and Oil and Natural Gas Corporation (ONGC) emerged as the top gainers, helping lift the benchmark indices.

The broader market also ended on a positive note. The Nifty MidCap index gained 0.45 per cent, while the Nifty SmallCap index outperformed with a 0.75 per cent rise.

Sectoral indices largely traded in the green, with the Nifty Realty index leading the gains and closing at a six-month high. The Nifty Auto index climbed to its highest level in a month, while the Nifty Oil and Gas and Nifty Consumer Durables indices also posted strong gains.

Experts said that the day’s rally marked the fourth straight session of gains for the benchmark indices, with sustained buying across rate-sensitive and cyclical sectors underpinning market sentiment.

“Market sentiment remains positive, supported by the decline in the India VIX, which reflects improving investor confidence,” an analyst stated.

“The rally was broad-based, with real estate, oil & gas, automobiles and consumer durables emerging as the top-performing sectors, each advancing around 1 per cent during the session, as buying interest remained widespread across the market,” as per the expert.

Mumbai, July 4: Gold recorded its first weekly gain since May as trader expectations for further US Federal Reserve rate hikes moderated, pushing bullion prices around 3.1 per cent for the week.

Soft US job numbers and lower energy prices led to investors reducing the expectations of monetary policy tightening.

However, on Friday, MCX gold August futures eased 0.01 per cent while MCX silver July futures inched up 0.04 per cent. Currently, gold futures stand at Rs 1,47,365, while silver futures at Rs 2,37,499 per kg.

The price of 10 grams of 24-carat gold was at Rs 1,46,344 on Friday, up from Rs 1,41,911 seen on Monday market opening, according to data published by the India Bullion and Jewellers Association (IBJA).

“Gold extended its recovery for the fourth consecutive session and touched a 10-day high on Friday. The rebound comes after more than a month of sustained selling following the May 13 import duty hike, with improving sentiment supported by a softer US dollar,” an analyst said.

The analyst said that the recent pullback in the Dollar Index has encouraged fresh buying in bullion, and forecasted that the bullion is expected to trade in the Rs 1,45,000–1,49,000 range, with global cues continuing to drive sentiment.

Market participants said softer US labour data and easing energy costs reduced the probability of further Fed tightening. US hiring slowed sharply in June and traders trimmed the probability of a quarter‑point rate increase at the Fed’s next meeting to below 20 per cent, down from roughly one‑third earlier in the week.

Lower energy costs and softer job growth have led analysts to forecast a gradual easing of inflationary pressures in coming months.

Oil prices have witnessed their sharpest quarterly correction since 2020 as shipments from Saudi Arabia and the United Arab Emirates near pre-war levels.

US President Donald Trump and allies have renewed efforts to clear the way for more of the president’s own picks at the Federal Reserve after the Supreme Court blocked an attempt to remove Governor Lisa Cook.

Similar efforts last year, challenging Fed’s independence, helped fuel gold’s rally as investors sought protection against potential policy shifts.

Mumbai, July 3: In a major push to tackle plastic pollution and position Maharashtra as a green manufacturing hub, the MahaYuti government has approved the Maharashtra Bioplastics Policy 2026, aimed at promoting bioplastics manufacturing through a comprehensive package of incentives and dedicated funding.

The policy, which will remain in force from 2026 to 2031, seeks to transform Maharashtra into a national hub for bioplastics manufacturing, research, innovation and exports. The government expects the initiative to attract investments worth Rs 25,000 crore, create 1.31 lakh direct and indirect jobs, and generate an estimated Rs 30,039 crore in revenue.

The policy also targets the creation of 2 lakh tonnes per annum (TPA) of PLA and biopolymer production capacity, reducing the state’s dependence on imported PLA by 50 per cent

Additionally, Maharashtra aims to replace 30 per cent of single-use plastics in selected sectors with compostable alternatives, achieve $1 billion in exports, and integrate 1 lakh farmers into the bioplastics value chain.

The state Cabinet has approved a total outlay of Rs 10,892 crore, including Rs 782 crore during the first five years and Rs 10,110 crore over the subsequent 20 years. A provision of Rs 50 crore has been made for 2026-27 under the Package Scheme of Incentives.

Government sources said rising concerns over conventional plastic waste, microplastics, marine pollution and greenhouse gas emissions have necessitated policy intervention to promote bio-based and biodegradable alternatives. While the global bioplastics market is expanding rapidly, India currently accounts for just 0.46 per cent of global output. It remains heavily dependent on imports of key biopolymers such as Polylactic Acid (PLA).

Maharashtra enjoys several competitive advantages, including its leadership in sugarcane, sugar and ethanol production, which provides abundant feedstock such as corn, bagasse and molasses. Coupled with a strong chemicals industry, premier research institutions and logistics infrastructure anchored by the Jawaharlal Nehru Port Authority (JNPA), the state is well positioned to develop a robust bioplastics ecosystem. The urgency of the shift is underscored by the generation of nearly 3.96 lakh tonnes of plastic waste in the state during 2022-23.

The policy covers the entire value chain, from raw material processing and production of PLA, PHA, PBS and other biopolymers to compounding, end-product manufacturing, testing facilities, composting and certification services. All eligible units will be required to obtain BIS/ISO 17088 certification or equivalent standards recognised by the Central Pollution Control Board.

Key focus areas include standards and certification, cluster-based industrial parks, common facility centres, research and centres of excellence, skill development, support for MSMEs and startups, increased participation of women and rural youth, and promotion of foreign investment and exports. The government also plans to establish two Centres of Excellence to foster innovation and technology development. Only Greenfield (new) investments and dedicated Brownfield expansions for bioplastics will be eligible.

To attract large-scale investments, Maharashtra will offer a tiered incentive framework, including special benefits for the first two anchor projects involving investments of Rs 3,000 crore or more. These projects will be eligible for capital subsidies of up to 30 per cent of fixed capital investment over 10 years, 100 per cent SGST reimbursement for 12 years, full electricity duty waivers and stamp duty exemptions, among other incentives.

Additional benefits include export incentives, reimbursement of employers’ provident fund contributions, and support for adoption of green technologies. Similar incentives will be available to the first 10 eligible large, mega and MSME units. Standalone R&D facilities will receive financial assistance of up to 50 per cent, subject to a ceiling of Rs 25 lakh.

The policy also provides an additional “green incentive” for units adopting zero liquid discharge systems, renewable energy and circular economy practices, reinforcing Maharashtra’s ambition to emerge as a leading sustainable manufacturing destination.