GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 0.13% at 24,046 as of 7:04 a.m. Global cues were mixed, with US S&P 500 futures rising 0.15%, while European Euro Stoxx 50 futures slipped 0.30%.

India Market Recap

Indian equity benchmarks snapped their three-session winning streak on Tuesday amid weekly Nifty F&O expiry and weak global cues. The NSE Nifty 50 declined 158.95 points, or 0.66%, to close at 24,052.05, while the BSE Sensex fell 561.46 points, or 0.72%, to settle at 77,054.94. Selling pressure was broad-based as investors booked profits after the recent rally, while cautious global sentiment also weighed on market performance. On the technical front, Nifty support is placed in the 23,800–23,900 range, while resistance is seen between 24,150 and 24,250.

US Market Recap

Wall Street rebounded on Tuesday after softer-than-expected inflation data eased concerns about further interest rate hikes by the US Federal Reserve. The S&P 500 rose 0.4%, recovering from the previous session's decline, while the Nasdaq 100 gained 1.1%, led by strength in semiconductor stocks. Technology shares received support after South Korean chipmakers SK hynix and Samsung Electronics rallied, boosting sentiment across the global semiconductor sector. Investors are now awaiting US producer price inflation data for further clues on the interest rate outlook.

Asian Market Update

Asian markets traded higher on Wednesday, led by a strong rally in South Korean equities after cooler US inflation data boosted demand for technology stocks. South Korea's Kospi surged 6.33%, while Japan's Nikkei 225 gained 0.73%. Australia's ASX 200 advanced 0.47%, whereas China's Shanghai Composite was marginally lower. Improved expectations that the Federal Reserve may have more room to ease monetary policy supported investor sentiment across the region.

Commodity Check

Crude oil prices extended their gains for a third consecutive session after renewed geopolitical tensions in the Middle East raised concerns over global energy supplies. Brent crude climbed towards $86 per barrel, while West Texas Intermediate (WTI) traded above $80 per barrel, following an 11% rally over the previous two sessions. Oil prices remained supported after US President Donald Trump warned of further military action against Iran, increasing fears of prolonged disruptions to shipping through the Strait of Hormuz and tightening global crude supply.

Stocks In News

• IOL Chemicals & Pharmaceuticals: China's NMPA approved the company's Clopidogrel Bisulfate API.
• Kirloskar Bros: SPP Pumps secured an order worth GBP 11.7 million from Saipem for vertical pumps and spares. The order will be executed over 52-60 weeks.
• NBCC: Board approved the merger of HSCC into NBCC.
• Easy Trip Planners: EaseMyTrip signed an MoU with Jharkhand Tourism to promote digital tourism.
• 63 Moons Technologies: Wholly owned subsidiary Financial Technologies Singapore Pte Ltd acquired 79.58 lakh equity shares in unlisted subsidiary Ticker Ltd through the secondary market for about Rs 21.49 crore.
• Delhivery: RBI approved Delhivery Financial Services' Type II-NBFC-ND registration.
• Axis Bank: Axis Finance allotted shares to Kedaara investors. Axis Bank's stake fell to 94.92%.
• Jain Resource Recycling: Operations were affected due to a fire. The affected section has been temporarily suspended. The damage is covered by insurance and the company is extending support to affected persons and their families.
• Indo Thai Securities: 60,500 preferential warrants lapsed due to non-exercise of conversion rights. The company approved forfeiture of the upfront subscription amount, equivalent to 25% of the issue price, and cancelled the warrants.
• Sobha: Board meeting scheduled on July 20, 2026 to consider Q1FY27 results and issuance of non-convertible debentures through private placement in one or more tranches.
• Mufin Green Finance: Management Committee approved fundraising of up to Rs 75 crore through listed secured non-convertible debentures, including a Rs 25 crore greenshoe option. It also approved issuance of foreign currency bonds of up to $6 million under the ECB route through private placement.
• Capacite Infra: Received an order worth Rs 482 crore from Twenty-Five Downtown Realty Ltd.
• IDBI Bank: Clarified that reports related to Fairfax pertain to the Government of India's strategic disinvestment process. The bank said it has not received any communication from the government regarding finalisation of the transaction.
• SEAMEC: Board approved the sale of vessel SEAMEC Gallant, owned by wholly owned subsidiary SEAMEC International FZE, to Bo Yuan Han Ltd, Hong Kong, for $9.5 million.
• Inventurus Knowledge Solutions: Wholly owned subsidiary IKS Inc. completed the first tranche investment of $2.84 million in IKS WWMG MSO by subscribing to 28.40 lakh common units. Its stake increased to 51.88% from 48.02%.
• Dalmia Bharat Sugar and Industries: Approved development of an integrated sugar project in Tanzania through subsidiary Eagle Agrotech Tanzania with an investment of $132 million.
• Belrise Industries: Launched its QIP on July 14, 2026 with a floor price of Rs 230.79 per share. The company may offer a discount of up to 5% and approved the preliminary placement document.
• Rajratan Global Wire: Received the final tranche of Rs 3.27 crore under the Madhya Pradesh government's investment incentive scheme, completing the Rs 22.92 crore assistance programme.
• PC Jeweller: CESTAT ruled in favour of the company and its Managing Director, dismissing DRI allegations related to customs duty on imported jewellery.
• Linde India: Invested Rs 69.9 crore in Zenataris Renewable Energy as the final tranche of its Rs 105 crore investment plan.
• Shriram Finance: Board meeting scheduled on July 24, 2026 to consider Q1FY27 results and approve a resource mobilisation plan through NCDs, subordinated debentures, bonds, notes and other onshore and offshore borrowings.
• Texmaco Rail Engineering: CFO Kishor Kumar Rajgaria resigned due to personal reasons.
• Tamilnad Mercantile Bank: Received a favourable ruling after the SAFEMA Tribunal dismissed the ED's appeal related to alleged FEMA violations in the transfer of 46,862 shares.
• Samvardhana Motherson: Completed acquisition of an 11% stake in Japan-based Shinnichi Kogyo for JPY 330 million through subsidiary Motherson Global Investments B.V. as part of the previously announced acquisition of an 81% stake in Yutaka Giken.
• Lemon Tree Hotels: Terminated the hotel operating and licence agreements for Lemon Tree Wildlife Resorts, Kanha. The company also signed a licence agreement for Lemon Tree Hotel, Jorhat, Assam.
• REC: Incorporated Kesurdi Power Transmission Ltd for the 220 kV GIS Kesurdi project.
• Raymond Lifestyle: Appointed Satyaki Ghosh as Whole-time Director and Chief Executive Officer for five years.
• Hero MotoCorp: Approved an additional investment of up to Rs 1,000 crore in Ather Energy through subscription to equity shares or convertible securities on a preferential basis. Hero currently holds a 29.48% stake in Ather.
• PDS: PDS Ltd and Busana Apparel Group entered into a strategic partnership to build global apparel manufacturing capacity.
• Jammu & Kashmir Bank: Proposed to sell 1.02 crore shares, representing a 0.50% stake, in PNB MetLife India Insurance to MetLife International Holdings for Rs 120.10 crore at Rs 117.20 per share. Its stake will reduce to 2.53% from 3.03%.
• Tata Power: Approved allotment of 1.50 lakh unsecured, rated and listed NCDs worth Rs 1,500 crore through private placement at a coupon of 7.50% for five years.
• KEC International: Received new orders worth Rs 1,180 crore.
• NIBE: Allotted 2,40,500 shares at Rs 1,258 each upon conversion of warrants. Share capital increased to Rs 15.50 crore.
• L&T Technology Services: Partnered with Anthropic to integrate Claude across AI engineering platforms.
• ICICI Lombard: An arbitral tribunal directed the company to pay Rs 78 crore to an insured party along with interest at 7.5% per annum.
• Goodluck India: India Ratings & Research assigned IND AA-/Stable for long-term facilities and IND A1+ for short-term facilities on bank loan facilities of Rs 1,150 crore.
• RBL Bank: CARE Ratings upgraded the rating on Tier II bonds to CARE AAA/Stable from CARE AA-. It also removed the rating watch with positive implications and reaffirmed the CARE A1+ rating on certificates of deposit.
• Chambal Fertilisers & Chemicals: The Income Tax Commissioner upheld tax penalties of Rs 1.94 crore related to disallowance of education cess.
• Utkarsh Small Finance Bank: CARE Ratings downgraded the rating on Rs 200 crore subordinated debt to CARE A-/Stable from CARE A/Negative.
• HEG: India Ratings assigned IND A-/Stable for long-term facilities and IND A1 for short-term facilities of wholly owned subsidiary TACC Ltd amounting to Rs 1,230 crore.
• Keystone Realtors: CRISIL assigned a CRISIL AA-/Stable rating to the company's bank loan facilities and reaffirmed the CRISIL AA-/Stable rating on Rs 335 crore of non-convertible debentures.
• State Bank of India: Moody's affirmed the bank's long-term deposit rating at Baa3 and Baseline Credit Assessment at baa3 with a stable outlook.