GIFT Nifty

GIFT Nifty suggests a flat start as global markets remain under pressure.

India Market Recap

Indian equity benchmarks ended Thursday on a flat note as gains in Bajaj Finance and Mahindra & Mahindra were offset by weakness in heavyweight stocks such as HDFC Bank and Eternal. The NSE Nifty 50 slipped 5.75 points, or 0.02%, to close at 24,072.75, while the BSE Sensex ended almost unchanged, gaining 1.44 points to settle at 77,186.87. The market remained range-bound as investors awaited fresh domestic and global triggers. 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 opened on a mixed note on Thursday as continued weakness in semiconductor stocks weighed on the broader market. The Dow Jones Industrial Average outperformed, rising 126.52 points, or 0.24%, to 52,785.16 shortly after the opening bell. However, the S&P 500 and Nasdaq Composite traded lower as investors remained cautious toward technology shares, particularly chipmakers, following recent selling pressure.

Asian Market Update

Asian markets traded lower on Friday as renewed weakness in global technology stocks dampened investor sentiment. Japan's Nikkei 225 led regional losses, falling 3.82%, following another weak session for semiconductor shares on Wall Street. Australia's ASX 200 declined 0.71%, while China's Shanghai Composite edged 0.07% lower. South Korean markets remained closed for a public holiday.

Commodity Check

Crude oil prices remained elevated and were on track for their strongest weekly gain since April as the escalating conflict between the United States and Iran raised concerns over potential disruptions to global energy supplies. Brent crude traded near $85 per barrel, putting it on course for a weekly gain of nearly 12%, while West Texas Intermediate (WTI) climbed above $79 per barrel. Investors continued to closely monitor developments in the Middle East, particularly around the Strait of Hormuz, amid fears that prolonged tensions could disrupt global oil shipments.

Stocks In News

• ONGC: Fitch affirmed BBB-/Stable rating and upgraded SCP to bbb+.
• Tata Motors: Signed an MoU with UCO Bank for commercial vehicle financing.
• HCL Tech: Signed a seven-year Guardian partnership and acquired Guardian India for $10.5 million; 2,000 employees to join.
• Premier Energies: Incorporated wholly-owned subsidiary Premier Battery Technologies.
• Navneet Education: Received a GST advisory from the Punjab State Tax Department regarding input tax credit reversal compliance for exempt supplies.
• Sky Gold and Diamonds: Subsidiary suffered a fraud loss of Rs. 10.70 crore.
• Time Technoplast: Confirmed Type IV composite LPG cylinders supplied to HPCL for its Instamart pilot.
• Hexaware Tech: Partnered with Factory to deploy agent-native development tools across enterprises and internally.
• Coal India: Commissioned 200 MW of the 300 MW solar power project at Khavda, Gujarat.
• PC Jeweller: Board approved a Rs. 1,000 crore QIP and increase in authorised share capital.
• Gland Pharma: Customs authority confirmed an IGST demand of Rs. 3.53 crore, along with interest and an equivalent penalty for FY21-FY22.
• Canara Bank: Raised $200 million through senior unsecured notes due 2029.
• South Indian Bank: To raise up to Rs. 1,000 crore through debt securities; recommended the appointment of Mahesh Muralidhar Pai as MD & CEO for a three-year term.
• Servotech Renewable: Won a UPSRLM order for a 900 kW solar rooftop project across 12 locations, to be executed within six months.
• Sansera Engineering: Settled the Metaldyne lawsuit for $2 million, payable by July 30, 2026; insurance may mitigate the exposure.
• PNG Jewellers: India Ratings affirmed IND A+/Stable and IND A1 ratings on bank loan facilities of Rs. 500 crore each, totalling Rs. 1,000 crore.
• Clean Science & Tech: Clean-Fino Chem signed a long-term HALS collaboration with Geneus Chem AG.
• Prestige Estates: Q1FY27 pre-sales rose to Rs. 6,579.3 crore. Launched four projects and completed three. Issued a Rs. 370 crore guarantee to secure a loan availed by subsidiary Prestige Alta Vista Properties.
• Tech Mahindra: Extended the acquisition completion deadline for Midad's 20% stake in Tech Mahindra Arabia to August 31, 2026.
• Tamilnad Mercantile Bank: Appellate Tribunal reduced the FEMA-related penalty to Rs. 3.40 crore from Rs. 17 crore.
• PhysicsWallah: Approved the acquisition of an additional 11% stake in Sarrthi IAS for Rs. 71.81 crore, increasing its shareholding from 40% to 51%.
• Powerica: Invested Rs. 3 crore in Fuji-Kailash Energy, acquiring a 49% stake.