GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, was up 0.29% at 24,112 as of 6:53 a.m. Global cues were muted, with both US S&P 500 futures and European Euro Stoxx 50 futures trading largely flat.

India Market Recap

Indian equity benchmarks resumed their upward momentum after a one-day pause, although they surrendered most of their intraday gains amid profit booking in the second half of the session. The NSE Nifty 50 closed 22.80 points, or 0.09%, higher at 24,074.85, while the BSE Sensex gained 120.26 points, or 0.16%, to settle at 77,175.20. Despite volatility, the benchmarks managed to end in positive territory, reflecting continued buying interest in select large-cap stocks. 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 traded higher on Wednesday, led by a rebound in technology and software stocks that lifted the major indices. The Nasdaq Composite outperformed, rising 0.74% to 26,300.83, as investors returned to technology names following recent weakness. The S&P 500 gained 0.49% to 7,580.43, while the Dow Jones Industrial Average advanced 0.53% to 52,788.11. The recovery in software stocks helped improve overall market sentiment despite lingering geopolitical uncertainties.

Asian Market Update

Asian markets opened lower on Thursday as renewed selling in semiconductor stocks weighed on investor sentiment. South Korea's Kospi dropped 5.07%, while Japan's Nikkei 225 declined 2.55%. In contrast, Australia's ASX 200 bucked the regional trend, edging 0.07% higher. Investors remained cautious amid weakness in global technology shares and continued geopolitical uncertainty.

Commodity Check

Crude oil prices extended their rally for a fourth consecutive session as ongoing tensions between the United States and Iran kept concerns over supply disruptions through the Strait of Hormuz firmly in focus. Brent crude traded near $85 per barrel after climbing around 12% over the previous three sessions, while West Texas Intermediate (WTI) hovered around $80 per barrel. Persistent geopolitical risks continue to support oil prices as markets monitor developments in one of the world's most important energy shipping routes.

Stocks In News

• TVS Holdings: Subsidiary Home Credit India to acquire 100% of Varthana Finance for Rs 967 crore, subject to RBI approval.
• Shilpa Medicare: Sridevi Khambhampaty resigned as CEO of subsidiary Shilpa Biologicals.
• Jain Resource Recycling: Tamil Nadu industrial authorities issued a safety order for Unit-II following the furnace fire incident.
• India Pesticides: Fungicide received EU Technical Equivalence approval.
• Karnataka Bank: Appointed Biji Sreekrishnavilas Sankaranarayanan as Executive Director, effective July 15, 2026.
• IndiQube Spaces: Added 3.9 lakh sq. ft. property in Sector 142, Noida.
• Adani Power: Signed a 25-year power supply agreement with MSEDCL for 1,600 MW from a new 2x800 MW plant.
• Amara Raja: Commissioned a 60 MWh CQP in Telangana with an investment of Rs 500 crore. Commercial cell production is expected next year.
• SBFC Finance: Appointed Sanket Agrawal as CFO. Narayan Barasia resigned as CFO.
• Medplus Health: Subsidiary received three suspension orders for a drug licence at a store in Karnataka.
• India Shelter Finance: Board to meet on July 20, 2026 to consider raising up to Rs 100 crore through non-convertible debentures.
• Spandana Sphoorty Financial: Acquired the remaining stake in Criss Financial. Will re-evaluate and modify the proposed merger scheme before seeking fresh approval.
• Archean Chemical: Investee company Offgrid Energy Labs, in which the company holds an 18.14% stake, inaugurated its first 10 MWh Zinc Bromide battery pilot manufacturing facility in the UK.
• Latent View: Appointed Sonal Ramrakhiani as Chief Executive Officer.
• NTPC Green: Subsidiary Ayana won a 50 MW wind project in an SECI tender at Rs 3.85/kWh.
• Gallant Ispat: Pradyumna Kumar Satpathy resigned as CFO.
• Brigade Enterprises: Board approved 34.23 lakh warrants worth Rs 180 crore. Also approved non-convertible debentures of up to Rs 1,500 crore.
• Exide Industries: Invested Rs 100 crore in wholly owned subsidiary Exide Energy Solutions.
• Tata Capital: Raised $400 million through its second international bond issuance. S&P assigned a BBB rating to the proposed senior unsecured notes under its $2 billion MTN programme.
• Ather Energy: Approved a preferential equity issue at Rs 1,230/share versus a floor price of Rs 1,175.74/share. Launched its QIP on July 15, 2026 with a floor price of Rs 1,169.70/share and flexibility to offer a discount of up to 5%. Warrant conversion price fixed at Rs 1,260/share.
• Embassy Developments: Promoter group entity Embassy Property Developments released the pledge on an additional 1 crore shares following the release of 2 crore pledged shares in June 2026. Allotted non-convertible debentures aggregating to Rs 1,020 crore.
• Niva Bupa Health Insurance: Received a GST refund of Rs 22.12 crore. ICRA assigned an AAA (Stable) issuer rating.
• Himadri Specialty Chemical: Approved a Rs 70 crore investment to set up a 200 MTPA Carbon Nano Tubes manufacturing facility. Also approved installation of a Super Specialty Carbon Black facility at its Mahistikry plant. Both facilities are expected to be commissioned by Q4FY28.
• HDFC Bank: Received RBI approval for the appointment of Rajiv Kumar as Part-time Chairman for a three-year term.
• Nestle India: Received a VAT reassessment order from the Tripura tax authorities demanding Rs 6.67 crore.
• Windsor Machines: Appointed Mohan Ramachandran as CEO, effective July 16, 2026.
• PC Jeweller: Repaid and cleared outstanding debt with one more consortium bank, taking the total to four of 14 banks. All four loans were prepaid ahead of schedule.
• Lloyds Engineering Works: Approved the acquisition of a controlling stake in Steel Infra Solutions through a preferential share swap. Also approved a Rs 4.99 crore preferential issue to fund fresh equity investment into SISCOL.
• State Bank of India: Appointed Sunil Ramgopal Agrawal as CFO.
• Spice Lounge: Opened its first Wing Zone outlet in Bengaluru and plans a nationwide expansion.
• Knack Packaging: Board approved the sub-lease of a factory land and building in Gandhinagar from Dayana Polyplast. Also approved leasing the associated plant and machinery to expand manufacturing operations.
• Hero MotoCorp: Ather Energy approved the preferential allotment of 76.19 lakh convertible warrants to Hero MotoCorp at Rs 1,260 per warrant, aggregating Rs 960 crore. Upon full conversion, Hero MotoCorp's stake in Ather Energy will increase to 30.68% from 29.48%.