Benchmarks rise for fourth day, Nifty ends above 25,600

The domestic equity benchmarks advanced for the fourth straight session on Friday, buoyed by a mix of global and domestic tailwinds. The recent Israel-Iran truce helped cool geopolitical worries, while growing optimism over a potential US-India trade deal added to the cheer. Foreign institutional investor inflows added to the bullish sentiment. Even concerns around the July 9 US tariff deadline appeared to take a backseat, as news of a likely extension helped soothe nerves. The Nifty comfortably closed above the 25,600 mark, supported by a strength in oil & gas, metals, and auto stocks.

The S&P BSE Sensex added 303.03 points or 0.36% to 84,058.90. The Nifty 50 index surged 88.80 points or 0.35% to 25,637.80. In four consecutive sessions, the Sensex jumped 2.64% while the Nifty rose 2.67%.

Adani Enterprises (up 2.41%), ICICI Bank (up 1.56%) and Reliance Industries (up 1.39%) boosted the indices.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index added 0.54%.

The market breadth was positive. On the BSE, 2251 shares rose and 1760 shares fell. A total of 154 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 1.60% to 12.39.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.46% to 6.303 from the previous close of 6.274.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4800 compared with its close of 85.7200 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement fell 1.30% to Rs 95,821.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 97.22.

The United States 10-year bond yield added 0.47% to 4.272.

In the commodities market, Brent crude for August 2025 settlement rose 55 cents or 0.81% to $68.28 a barrel.

Global Markets:

US Dow Jones futures jumped 130 points, pointing to a strong open for Wall Street.

European shares surged on Friday, boosted by signs of progress in U.S.-China trade talks, while the dollar slipped to its lowest level in over three years.

Asian shares ended mixed, as investors assessed China's May industrial data. The country?s industrial profits fell 9.1% year on year in the first five months of the year, according to the National Bureau of Statistics.

This marked the largest decline since October last year, when industrial profits fell by 10%. Industrial profits are a crucial indicator of the financial health of China?s factories, mines, and utilities.

All eyes are on July 8, when the so-called liberation day tariffs are scheduled to kick in following a 90-day pause. The following day, July 9, marks the cutoff for a potential EU deal that could avert a hefty 50% tariff hike.

In Japan, fresh inflation data from Tokyo offered a mild surprise. Core CPI, which excludes volatile food and fuel prices, rose 3.1% year-on-year in June, cooler than the 3.6% reading in May, hinting at easing price pressures.

Back in the U.S., the S&P 500 closed just shy of a record high, jumping 0.8%. The Nasdaq climbed 0.97%, while the Dow followed closely with a 0.94% gain. Investors shrugged off economic headwinds ranging from tariff spats to sticky inflation and shaky geopolitics.

A temporary calm in the Middle East also helped sentiment. The truce between Israel and Iran, brokered by former President Trump, held firm through Thursday. Trump has indicated fresh talks with Iran are on the cards, potentially aimed at curbing its nuclear ambitions.

The U.S. GDP contracted at an annualized rate of 0.5% in Q1, marking the first dip since 2022. At the same time, weekly jobless claims dropped by 10,000, though economists caution the unemployment rate could inch up in June as job seekers face a tighter market.

In tech, NVIDIA continued its meteoric rise, hitting new all-time highs. The stock has surged nearly 40% since April's tariff turbulence sparked a brief sell-off.

Micron Technology also lit up the chip sector, with upbeat Q2 earnings and guidance that sailed past analyst expectations.

Stocks in Spotlight:

Akzo Nobel India jumped 6.65% to Rs 3405 after the company announced that its existing promoters have entered into a share purchase agreement (SPA) with JSW Paints for selling their 74.76% stake for a total consideration of Rs 9,403.21 crore.

Jio Financial Services rose 3.57% after the Securities and Exchange Board of India (SEBI) approved Jio BlackRock Broking to function as a stockbroker.

Private lender IndusInd Bank surged 2.61% after the media reported that Axis Bank's Rajiv Anand is a strong candidate for its CEO position. HDFC Bank's Rahul Shukla and Bajaj Finance's Anup Saha are also likely to be running for the role, the reports added.

Century Plyboards (India) added 6.19% after the company announced the commencement of commercial production at its newly established particleboard manufacturing facility in Tamil Nadu.

Adani Enterprises advanced 2.41% after the company announced that its joint venture, AdaniConneX (ACX), has completed the acquisition of a 100% equity stake in Granthik Realtors (GRPL) from Windson Projects LLP.

Ahluwalia Contracts (India) jumped 5.02% after the company announced that it has secured two major construction orders with a combined value of Rs 1,103.56 crore.

Lemon Tree Hotels rose 0.58%. The company has announced the signing of a new property, Lemon Tree Suites, Nashik, expanding its presence in Maharashtra.

IPO Update:

The initial public offer (IPO) of HDB Financial Services received bids for 2,17,65,29,200 shares as against 13,04,42,855 shares on offer, according to stock exchange data at 17:00 IST on Friday (27 June 2025). The issue was subscribed 16.69 times.

The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 700 and 740 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof.

Sambhv Steel Tubes' IPO received bids for 1,39,95,06,472 shares as against 4,92,06,100 shares on offer, according to stock exchange data at 17:00 IST on Friday (27 June 2025). The issue was subscribed 28.44 times.

The issue opened for bidding Wednesday (25 June 2025) and it will close on Friday (227 June 2025). The price band of the IPO is fixed between Rs 77 and 82 per share. An investor can bid for a minimum of 182 equity shares and in multiples thereof.

Indogulf Cropsciences' IPO received bids for 1,24,79,940 shares as against 1,33,65,710 shares on offer, according to stock exchange data at 17:00 IST on Friday (27 June 2025). The issue was subscribed 0.93 times.

The issue opened for bidding on Thursday (24 June 2025) and it will close on Monday (30 June 2025). The price band of the IPO is fixed between Rs 105 and 111 per share. An investor can bid for a minimum of 135 equity shares and in multiples thereof.

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