GIFT Nifty

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 24,040.50, compared to Monday's index close of 24,218.00.

India Market Recap

Indian equity benchmarks extended their winning streak for a third consecutive session, supported by gains in heavyweight IT stocks such as TCS and Infosys. Despite opening sharply lower amid weak global cues, both indices recovered through the day to end with modest gains. The NSE Nifty 50 edged up 0.02% to close at 24,211, while the BSE Sensex gained 0.06% to settle at 77,616.40. Intraday, the Nifty had fallen as much as 0.9% to 24,000.20, while the Sensex was down nearly 712 points before buying in technology stocks helped the market rebound. On the technical front, Nifty support is placed in the 24,000–23,900 range, while resistance is seen between 24,300 and 24,400.

US Market Recap

Wall Street opened lower on Monday as renewed selling in semiconductor stocks weighed on the broader technology sector. Shortly after the opening bell, the S&P 500 declined 0.29% to 7,553.16, while the Nasdaq Composite fell 0.88% to 26,050.65. Chipmakers remained under pressure, with Micron Technology dropping around 7% in early trade, dragging the technology sector lower and dampening overall market sentiment.

Asian Market Update

Asia-Pacific markets traded lower on Tuesday after US President Donald Trump proposed imposing fees on ships passing through the Strait of Hormuz and announced the reinstatement of a blockade on Iranian ports. The move raised fresh concerns over global trade and energy supplies. Japan's Nikkei 225 declined 1.17%, while the Topix fell 0.51%. South Korea's Kospi dropped 2.01%, and the Kosdaq lost 1.8%. Australia's ASX 200 slipped 0.29%, while Hong Kong futures also pointed to a weaker opening. However, both the Nikkei and Kospi recovered part of their early losses as trading progressed.

Commodity Check

Crude oil prices surged on Tuesday after the US announced plans to impose transit fees on ships passing through the Strait of Hormuz and reinstate a blockade on Iranian ports, intensifying concerns over global oil supply. US benchmark West Texas Intermediate (WTI) for August delivery rose 2.27% to $79.91 per barrel, while Brent crude for September delivery gained 2.14% to $85.11 per barrel, extending the previous session's 9.6% rally. The proposed policy has renewed fears of higher transportation costs and potential disruptions to one of the world's most important oil shipping routes, keeping energy markets on edge.

Stocks In News

• PDS: Signed a multi-year sourcing partnership with a French retailer to manage over US$250 million of annual apparel FOB volume from Nov. 1.
• Poonawalla Fincorp: Approved issuance of secured NCDs worth Rs 500 crore on July 13, 2026.
• Jain Resource Recycling: Approved a corporate guarantee of Rs 50 crore for JV Jain CY Circular Solutions with ICICI Bank on July 13, 2026.
• Emcure Pharmaceuticals: Acquired the remaining 12.05% stake, or 6.64 lakh shares, in subsidiary Gennova Biopharmaceuticals for Rs 231.87 crore.
• Aster DM Quality Care: Allotted 35.36 crore equity shares to shareholders of erstwhile Quality Care India.
• IFGL Refractories: Incorporated wholly owned subsidiary IFGL Monocon Saudi Company in Saudi Arabia on July 11, 2026 to undertake trading of refractories and related products and services.
• BEL: Received orders worth Rs 572 crore.
• Jaykay Enterprises: Board approved fundraising of up to Rs 155 crore through a rights issue of partly paid-up equity shares.
• Neuland Laboratories: India Ratings and Research affirmed the company's bank loan facility ratings at IND A+/Positive for long-term facilities and IND A1 for short-term facilities.
• State Bank of India: Raised $200 million through senior unsecured Reg-S floating rate notes.
• Uno Minda: GST appellate authority remanded the company's appeal against a GST demand, interest and penalty order of Rs 1.72 crore.
• HCL Technologies: Board approved investment of Rs 3,500 crore to set up AI data centres in India through new wholly owned subsidiaries. Board also approved incorporation of a wholly owned subsidiary for this purpose.
• Timken India: Received four BIS licences for bearing products.
• EMS: Emerged as the lowest bidder for a sewerage infrastructure project awarded by UP Jal Nigam (Urban), Varanasi, with an estimated order value of Rs 105.82 crore.
• Carraro India: India Ratings revised the outlook on the company's bank facilities to Positive from Stable, affirmed the long-term rating at IND A+ and upgraded the short-term rating to IND A1+.
• Welspun Enterprises: WPSPL signed a sub-concession agreement for the Rs 7,300 crore Pune-Shirur highway project.
• UGRO Capital: Approved allotment of commercial papers worth Rs 300 crore on July 13, 2026.
• Alembic Pharmaceuticals: USFDA issued a warning letter dated July 10, 2026 to a clinical investigator.
• Samman Capital: NCLT allowed clarifications on the Sammaan Finserve-Sammaan Capital scheme of arrangement on July 10, 2026.
• Route Mobile: Approved the acquisition of Heltar Technologies' AI-led omnichannel business through wholly owned subsidiary Route Connect Pvt. Ltd. via a slump sale. To fund the acquisition, the company will provide up to Rs 35 crore as an unsecured loan or inter-corporate deposit to Route Connect.
• Grasim Industries: Subsidiary Aditya Birla Renewables approved the acquisition of 100% of Solenergi Power Pvt. Ltd. from Shell Overseas Investment B.V.
• Transformers & Rectifiers (India): India Ratings affirmed the company's IND A+/Stable/IND A1+ rating on existing bank facilities worth Rs 1,050 crore and assigned the same rating to additional bank facilities worth Rs 500 crore.
• Kalyani Steels: CPCB ordered the closure of the company's Koppal plant over alleged environmental compliance violations. The company said it has addressed the issues and is seeking revocation of the closure order.
• NHPC: Two of the three 170 MW units at the 510 MW Teesta-V Power Station in Sikkim resumed commercial operations after grid synchronisation. The third 170 MW unit is expected to resume in due course.
• Gujarat Themis: Settled arbitration proceedings against Optimus Drugs.
• Zee Entertainment: RBI approved redemption of FCCBs worth $23.9 million and cancellation of the remaining $215.1 million FCCB commitment.