Market trade near flat line; FMCG shares jump

The domestic equity indices continued to trade with minor losses in the early afternoon trade, as investors engaged in mild profit booking amid uncertainty surrounding the India-US trade deal. Market participants will monitor upcoming earnings seasons, India-US trade deal and tariffs situation. Nifty traded at 25,450 mark.

FMCG shares witnessed buying demand for third consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 32.30 points or 0.04% to 83,396.45. The Nifty 50 index lost 12.40 points or 0.04% to 25,450.00.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.22% and the S&P BSE Small-Cap index fell 0.44%.

The market breadth was negative. On the BSE, 1,745 shares rose and 2,062 shares fell. A total of 212 shares were unchanged.

Economy:

India's foreign exchange reserves rose by $4.84 billion to $702.78 billion in the week ended June 27, the Reserve Bank of India (RBI) said on Friday, July 4.

Foreign currency assets surged by $5.75 billion to $594.82 billion. Gold reserves fell by $1.23 billion to $84.5 billion during the reported week, while special drawing rights (SDRs) rose by $158 million to $18.83 billion.

India's reserve position with the International Monetary Fund (IMF) also increased by $176 million to $4.62 billion, central bank data showed.

India-US Trade Deal Update:

Despite prolonged negotiations, there remains uncertainty over the finalization of a trade deal between India and the US.

India and the US are actively engaged in trade negotiations as the July 9 deadline looms. If a deal is not reached by then, Indian exports to the US could face a total tariff of 36 per cent (10% baseline tariffs plus 26% reciprocal tariffs). Trump has indicated that the deadline may not be extended.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.21% to 12.59. The Nifty 31 July 2025 futures were trading at 25,514.30, at a premium of 64.3 points as compared with the spot at 25,450.00.

The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 49.1 lakh contracts at the 26,000 strike price. Maximum put OI of 66.3 lakh contracts was seen at 25,000 strike price.

Buzzing Index:

The Nifty FMCG index increased 1.61% to 55,615.75. The index jumped 2.16% in three consecutive trading sessions.

Godrej Consumer Products (up 5.54%), Dabur India (up 4.3%), Emami (up 3.39%), Hindustan Unilever (up 2.74%), Colgate-Palmolive (India) (up 1.32%), Varun Beverages (up 1.17%), Marico (up 1.13%), Tata Consumer Products (up 1.13%), ITC (up 0.97%) and Britannia Industries (up 0.78%) advanced.

Stocks in Spotlight:

Info Edge (India) declined 4.16%. The company reported an 11.18% year-on-year increase in standalone billings to Rs 644.2 crore for the quarter ended 30 June 2025, compared with Rs 579.4 crore recorded in the same period last year.

Jubilant FoodWorks fell 3.78%. The company said that the company's consolidated revenue from operations was at Rs 2,261.4 crore in Q1 FY26, marking a 17% year-on-year (YoY) jump.

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