GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 0.42% at 24,096 as of 6:16 a.m. Positive global cues supported sentiment, with US S&P 500 futures rising 0.81% and European Euro Stoxx 50 futures gaining 1.25%.

India Market Recap

Indian equity benchmarks rebounded on Thursday after suffering their steepest single-day decline in more than three months in the previous session. The NSE Nifty 50 gained 80.75 points, or 0.34%, to close at 23,962.80, while the BSE Sensex advanced 238.22 points, or 0.31%, to settle at 76,741.82. The recovery was driven by selective buying in heavyweight stocks as investors looked past recent geopolitical volatility. On the technical front, Nifty support is placed in the 23,700–23,800 range, while resistance is seen between 24,150 and 24,250.

US Market Recap

US equity futures traded largely steady after a positive session on Wall Street, with the S&P 500 and Nasdaq on course to end the week with gains. Futures linked to the Dow Jones Industrial Average were little changed, while S&P 500 and Nasdaq 100 futures edged higher. In the previous session, the Nasdaq Composite rose 1.3%, the S&P 500 gained 0.8%, and the Dow Jones Industrial Average advanced 0.3%, supported by renewed buying in technology stocks.

Asian Market Update:

Asian markets were set for a mixed start on Friday. Japan's Nikkei 225 was expected to open higher, with futures indicating gains over the previous close of 67,743.85. Australia's ASX 200 futures pointed to a softer opening, while Hong Kong's Hang Seng futures indicated a marginally positive start. Investors remained focused on global market cues and developments in the Middle East.

Commodity Check:

Crude oil prices steadied after a volatile week as negotiations between the US and Iran continued despite renewed hostilities that disrupted shipping through the Strait of Hormuz. Brent crude traded near $76 per barrel after falling more than 2% in the previous session, while US benchmark West Texas Intermediate (WTI) remained below $72 per barrel. Meanwhile, gold prices were largely unchanged, trading near $4,120 per ounce, as investors balanced geopolitical risks against expectations of tighter monetary policy to curb inflation.

Stocks In News

• IIFL Finance: Fitch assigned a 'B+' rating with 'RR4' recovery rating to the company's USD 300 million 7.60% senior secured notes due July 2030.
• Hester Biosciences: Sold its remaining 11% stake in Texas Lifesciences comprising 5,43,248 equity shares for Rs 2.3 crore, reducing its shareholding in the company to nil.
• Greaves Cotton: Board approved subscription to the rights issue of Greaves Electric Mobility to the full extent of its entitlement, aggregating up to Rs 331.12 crore.
• Godrej Properties: NCLT approved the amalgamation of wholly owned subsidiary Embellish Houses with the company.
• Ashoka Buildcon: Issued Commercial Papers worth Rs 100 crore at a 7.20% coupon, with a 90-day tenor each worth Rs 5 lakh.
• Havells India: Entered the Battery Energy Storage System segment through a strategic collaboration with Norway-based Pixii AS to develop and introduce advanced energy storage solutions in India.
• Zee Media: Statutory auditors certified compliance with SEBI ICDR regulations for the conversion of 3 crore warrants into 3 crore equity shares at an issue price of Rs 8.50 per share.
• SG Finserve: Issued Commercial Papers worth Rs 30 crore at a 7.30% rate with a 53-day tenor.
• The Sandur Manganese & Iron Ores: Approved entry into new businesses including hospitality, academy, and medical devices and consumables manufacturing, to be undertaken through subsidiaries.
• HCL Technologies: HCL Foundation signed an MoU with the Uttar Pradesh Urban Development Department to collaborate on sustainable waste management initiatives in Hardoi, Prayagraj and Agra.
• Vikram Solar: Entered into a solar cell supply agreement with Evervolt Solar Technology India to procure 130 MW of Mono-PERC 10BB DCR-compliant solar cells to support its domestic module manufacturing requirements.
• Shriram Finance: Allotted secured NCDs worth Rs 2,000 crore through private placement, comprising Rs 1,000 crore at 7.80% and Rs 1,000 crore at 8.00% to support lending, refinancing and general corporate purposes.
• TTK Prestige: Operations at its Roorkee manufacturing plant were disrupted due to heavy rains and flooding in Uttarakhand.
• Jash Engineering: Company Announces consolidated order book as on 1st July 2026 is Rs. 912 Crore out of which orders worth Rs. 284 Crore are for Indian market and orders worth Rs. 628 Crore are for markets outside India.
• Krishana Phoschem: Crisil reaffirmed the company's long-term rating at Crisil A+ and short-term rating at Crisil A1, while enhancing the total bank facilities rating to Rs 1,125 crore from Rs 756 crore.
• Power Grid Corporation: Received the Letter of Intent Declared on bidding for the "Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)" interstate transmission project.
• Torrent Pharmaceuticals: Initiated a voluntary recall of select batches of Semalix injection disposable pens (2 mg and 4 mg) following a product recall from manufacturer Dr. Reddy's Laboratories for technical evaluation.
• Container Corporation of India: Signed a 15-year agreement with GAIL (India) to set up an LNG dispensing station at its Khodiyar Inland Container Depot in Ahmedabad.
• Lux Industries: Entered into an exclusive brand licensing agreement with Riluk IPCO for the Reebok trademark in India.
• AWL Agri Business: Backed expansion of the regenerative mustard programme after demonstration farms delivered up to 30% higher yields.
• Raymond: Allotted 66.57 lakh convertible warrants to JK Investors (Bombay) on a preferential basis at Rs 497 per warrant after receiving 25% upfront subscription amount.
• Madhya Bharat Agro Products: Crisil assigned the company's long-term rating at Crisil A+ and short-term rating at Crisil A1, while enhancing the total bank facilities rating to Rs 2,006.6 crore from Rs 885 crore.
• Ceinsys Tech: Received a Letter of Intent worth Rs 67.04 crore from the Directorate of Urban Administration & Development, Madhya Pradesh for providing manpower services under the Pradhan Mantri Aw Yojana.
• Restaurant Brands Asia: Open offer for acquisition of up to 20.81 crore shares at Rs 70 per share, aggregating up to Rs 1,464.55 crore.
• GOCL Corporation: Board approval for re-appointment of mr. ravi jain as a whole-time director & Chief Financial Officer of the company.
• Pace Digitek: Subsidiary Lineage Power signed an MoU with Onward Solar Power and Kalpa Power for the supply of Battery Energy Storage Systems.
• Himadri Speciality Chemical: Issued and allotted Commercial Papers worth Rs 150 crore at a 6.60% discount rate with a 90-day tenor, at face value of Rs 5 lakh each.
• Dixon Technologies: Entered into a joint venture agreement with vivo Mobile India to form a 51:49 smartphone and electronics manufacturing JV in India, after vivo received Government of India approval; the JV will undertake part of vivo's OEM smartphone orders and can also manufacture electronic products for other brands.
• Premier Explosives & Apollo Micro Systems: Apollo Micro Systems entered into a share purchase agreement to acquire 2.22 crore shares (41.33% stake) from the promoter AKS Family Trust at Rs 698 per share and will launch an open offer for up to 1.40 crore shares (26% stake) at Rs 698 per share from public shareholders.
• Samvardhana Motherson: Agreed to provide a corporate guarantee of up to EUR 63 million (105% of a EUR 60 million facility) in favour of Sumitomo Mitsui Banking Corporation for a term loan availed by wholly owned subsidiary Motherson Global Investments B.V.
• Sanstar: Received NSE and BSE trading approvals for listing of 1.80 crore equity shares allotted to Corn Products Development Inc. on a preferential basis at Rs 110 per share
• Cummins India: Income Tax Department filed appeals before the Bombay High Court against the ITAT order that had granted relief to the company on tax adjustments of Rs 210.77 crore; the estimated tax impact is approximately Rs 72.88 crore.
• YES Bank: S&P Global Ratings assigned its first-ever rating coverage to the bank, with a long-term issuer credit rating of BB+ (Stable) and a short-term issuer credit rating of B.
• IKS Health: Completed the acquisition of TruBridge; the combined entity will support more than 2,000 healthcare organizations and 150,000 clinicians across the US
• Federal Bank: S&P Global Ratings assigned its first international investment-grade issuer rating of BBB- (Stable) and short-term rating of A-3
• Premier Energies: Commissioned a 5.6 GW solar module manufacturing facility. Total module manufacturing capacity to 11.1 GW.
• Solar Industries: Solar Overseas Mauritius incorporated Solar SA Investments (Pty) Ltd in South Africa on July 7, 2026 as a wholly owned step-down subsidiary for internal group restructuring and investment holding activities.
• Great Eastern Shipping: Took delivery of 2015-built Long Range 2 tanker “Jag Laxman”, funded entirely through internal accruals; the company's fleet now comprises 41 vessels with capacity utilisation close to 100%.
• Rane Madras: CRISIL upgraded the company's long-term bank facility rating to CRISIL AA-/Stable from CRISIL A+/Stable and short-term rating to CRISIL A1+ from CRISIL A1 for bank facilities amounting to Rs 1,085 crore.
• SEAMEC: Vessel “Samudra Prabha” was taken off-hire with effect from July 9, 2026 to undergo inspection by the Directorate General of Shipping.
• Blue Jet Healthcare: Closed its QIP and allotted 1.58 crore equity shares at Rs 506 per share (4.83% discount to the floor price of Rs 531.70), raising approximately Rs 800 crore.
• One 97 Communications: Partnered with Indonesia's Flip and its subsidiary DTK to deploy Soundbox technology in Indonesia Flip will lead local market execution through DTK.
• ONGC: Board approval for the development of a 1.75 MMT Strategic Petroleum Reserve at Mangalore (Phase-I Extension).
• Jubilant Agri and Consumer Products: NCLT approved the demerger of its Agri and Consumer Products Business into Jubilant Agri Solutions.