Nifty fails to hold 25,550 mark; European mrkt decline

The key equity indices traded with moderate losses in the afternoon trade, despite an improvement in global risk sentiment driven by easing Middle East tensions and foreign inflows that boosted investor confidence. Investors will monitor domestic data and global cues this week. The Nifty slipped below 25,550 mark after hitting day's high of 25,669.35 in early trade.

PSU Bank, pharma and media shares advanced while FMCG, private bank, and auto shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 443.05 points or 0.53% to 83,612.52. The Nifty 50 index fell 124.75 points or 0.48% to 25,514.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.37% and the S&P BSE Small-Cap index added 0.55%.

The market breadth was positive. On the BSE, 2,159 shares rose and 1,850 shares fell. A total of 186 shares were unchanged.

Gainers & Losers:

State Bank of India (SBI)(up 1.61%), Shriram Finance (up 1.17%), Bharat Electronics (BHEL) (up 1.05%), Indusind Bank (up 0.98%) and Trent (up 0.92%) were the major Nifty50 gainers.

Tata Consumer Products (down 2.66%), Kotak Mahindra Bank (down 1.76%), Maruti Suzuki India (down 1.72%), Hero Motocorp (down 1.70%) and Dr Reddy's Laboratories (down 1.61%) were the major Nifty50 losers.

Stocks in Spotlight:

Alembic Pharmaceuticals surged 10.98% after the company received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Doxorubicin Hydrochloride Liposome Injection.

NLC India rose 0.42% after the company received a Letter of Award (LoA) from NTPC to develop a 450 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project.

Waaree Energies rallied 4.75% after the firm's wholly owned subsidiary, Waaree Solar Americas received an order to supply 540 MW of solar modules from a renowned customer located in United States.

Hind Rectifiers added 2.10% after the company secured a supply order worth Rs 127 crore from Indian Railways. Meanwhile, the company received another supply order worth Rs 101 crore from Indian Railways.

Karnataka Bank declined 5.37% after the bank's board has accepted the resignation of managing director (MD) & chief executive officer (CEO), Srikrishnan Hari Hara Sarma, effective from 15 July 2025. Additionally, the company's board has approved the appointment of Raghavendra Srinivas Bhat as the chief operating officer (COO), effective from 2 July 2025.

ITD Cementation India rose 4.73% after the company secured an international marine contract worth $67.4 million (approximately Rs 580 crore) for jetty construction works related to the Ruwais LNG project in Abu Dhabi.

VRL Logistics advanced 1.59% after the company announced that its board will meet on Friday, 04 July 2025, to consider and recommend the capitalization of reserves & retained profits for issuance of bonus shares.

Global Markets:

US Dow Jones futures surged 255 points, signaling a strong start for Wall Street after last week's upbeat finish.

Most European stocks declined as investors awaited the latest inflation data from Italy and Germany.

Most Asian shares advanced, riding a wave of optimism despite mixed economic signals. Investors were closely watching fresh data from across the region, including industrial output numbers from South Korea and Japan, and China's latest PMI readings.

In China, manufacturing activity contracted for the third straight month in June. The official manufacturing PMI inched up to 49.7 from May's 49.5, still below the 50-mark that separates growth from contraction. Meanwhile, the non-manufacturing PMI, which captures activity in services and construction, ticked up to 50.5 from 50.3. With the economy continuing to lose steam, hopes are building for fresh stimulus measures from Beijing.

Back in the US, Friday was a blockbuster session for equities. The S&P 500 closed at its highest level in over four months, gaining about 0.5%. The Nasdaq Composite also reached an all-time high, closing at a record after adding about 0.5%, while the Dow Jones Industrial Average rose nearly 1%. All three indices have made a solid comeback this month after April's slump, which was triggered by escalating trade tensions.

Adding a political twist to the mix, the US Senate on Saturday narrowly voted 51-49 to begin debate on President Trump's sweeping One Big Beautiful Bill. This legislation rolls together tax cuts, spending shifts, and border security measures. While the bill still faces a turbulent legislative journey, the vote kicks off up to 20 hours of debate. However, the Congressional Budget Office estimates it could swell the federal deficit by a staggering $3.3 trillion over the next ten years.

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