Nifty slides below 25,400 level; auto shares decline

The key equity indices erased their early gains and traded near the flatline with minor losses in mid-morning trade, as investors closely monitored the US-India trade deal. The Nifty slipped below the 25,400 level. Auto shares declined after advancing in the past two consecutive sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex declined 23.98 points or 0.03% to 83,215.49. The Nifty 50 index lost 6.60 points or 0.02% to 25,398.70.

The broader market outperformed frontline indices. The S&P BSE Mid-Cap index advanced 0.33% and the S&P BSE Small-Cap index rallied 0.32%.

The market breadth was positive. On the BSE 2,246 shares rose and 1,511 shares fell. A total of 197 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.52% to 12.32.

IPO Update:

The initial public offer (IPO) of CRIZAC received bids for 12,97,64,446 shares as against 2,58,36,909 shares on offer, according to stock exchange data at 11:15 IST on Friday (4 July 2025). The issue was subscribed 5.02 times.

The issue opened for bidding on Wednesday (2 July 2025) and it will close on Friday (04 July 2025). The price band of the IPO is fixed between Rs 233 and 245 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Auto index declined 0.19% to 23,959.25. The index rallied 0.75% in the past two consecutive trading sessions.

Eicher Motors (down 1.13%), Maruti Suzuki India (down 0.95%), TVS Motor Company (down 0.76%), MRF (down 0.75%), Mahindra & Mahindra (down 0.45%), Samvardhana Motherson International (down 0.25%), Tata Motors (down 0.04%) and Ashok Leyland (down 0.02%) declined.

On the other hand, Bosch (up 3.42%), Balkrishna Industries (up 2.02%) and Bharat Forge (up 1.17%) edged higher.

Stock in Spotlight:

SRF rose 0.41%. The company informed that its board has approved the appointment Ashish Bharat Ram as chairman & managing director (MD) of the company for a term commencing from 23 May 2025 till 31 March 2030.

HDFC Bank added 0.20%. The company said that its average deposits increased 16.4% to Rs 26,58,000 crore as on 30th June 2025 compared with Rs 22,83,100 crore as on 30th June 2024.

Bandhan Bank declined 1.82%. The company's total deposits rose by 16.1% to Rs 154,664 crore in the quarter ended 30 June 2025, compared to Rs 133,207 crore recorded in the quarter ended 30 June 2024.

Global Markets:

Asian stocks were mixed on Friday, taking cues from Wall Street, where investors cheered a surprisingly upbeat U.S. jobs report that soothed fears of an economic cooldown.

Overnight, U.S. indices were all green. The S&P 500 and Nasdaq Composite notched fresh record highs, while the Dow Jones Industrial Average climbed 0.77%. The S&P 500 rose 0.83%, and the Nasdaq led the pack with a 1.02% gain. U.S. market is closed Friday for the Independence Day holiday.

Data from the U.S. Bureau of Labor Statistics showed that nonfarm payrolls increased by 147,000 in June, above expectations and revised upward from 144,000 in May. The unemployment rate declined slightly to 4.1%, while average hourly earnings rose 0.2% month-over-month, indicating limited wage-driven inflation. Initial jobless claims also fell to a six-week low.

In corporate developments, shares of Tripadvisor rose following reports that activist investor Starboard Value has acquired a stake exceeding 9% in the company. Datadog shares also advanced after it was announced the company will be added to the S&P 500 index.

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