Sensex drops marginally, Nifty trades near 25,450; VIX jumps 1.72%
At 13:28 IST, the barometer index, the S&P BSE Sensex declined 20.02 points or 0.03% to 83,410.19. The Nifty 50 index shed 8.40 points or 0.03% to 25,450.25.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.20% and the S&P BSE Small-Cap index fell 0.40%.
The market breadth was negative. On the BSE, 1,588 shares rose and 2,336 shares fell. A total of 202 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 1.72% to 12.53.
Gainers & Losers:
Hindustan Unilever (up 3.05%), Jio Financial Services (up 1.34%), Tata Consumer Products (up 1.13%), Eicher Motors (up 1.07%) and Nestle India (up 1.04%) were the major Nifty50 gainers.
Tech Mahindra (down 2.17%), Bharat Electronics (down 1.96%), Eternal (down 1.64%), Hindalco Industries (down 1.23%) and Maruti Suzuki India (down 1.14%) were the major Nifty50 Losers.
Economy:
India?s foreign exchange reserves rose by $4.84 billion to $702.78 billion in the week ended June 27, the Reserve Bank of India (RBI) said on Friday, July 4.
Foreign currency assets surged by $5.75 billion to $594.82 billion. Gold reserves fell by $1.23 billion to $84.5 billion during the reported week, while special drawing rights (SDRs) rose by $158 million to $18.83 billion.
India?s reserve position with the International Monetary Fund (IMF) also increased by $176 million to $4.62 billion, central bank data showed.
Stocks in Spotlight:
Hazoor Multi Projects zoomed 16.46% after the company announced that it has secured order worth Rs 913 crore from Apollo Green Energy (formerly Apollo International) for the execution of a 200 MW grid-connected solar photovoltaic (PV) project in Gujarat. Completion is expected by March 2026.
Kalyan Jewellers India shed 0.55%. The company reported a consolidated revenue growth of 31% year-on-year in Q1FY26, despite intermittent demand disruptions during the quarter, largely attributed to gold price volatility and geopolitical tensions.
Texmaco Rail & Engineering fell 0.61%. The company said that it has received an order worth Rs 36.27 crore from Transport Corporation of India (TCI) for the supply of two rakes, comprising 54 ACT-3 type wagons and two BVCM wagons. The order is scheduled to be executed within 24 months.
DCX Systems gained 3.07% after the company announced it had received an industrial license to manufacture high-end defence electronics.
Dhanlaxmi Bank rose 2.47% after the bank?s gross advances grew 17.3% to Rs 12,484 crore as of 30 June 2025 from Rs 10,643 crore as of 30 June 2024. The private lender reported 14.7% growth in total deposits to Rs 16,570 crore in Q1 FY26 as against Rs 14,441 crore recorded in Q1 FY25.
Global Markets:
US Dow Jones futures were down 128 points, signaling a weak start for Wall Street.
European markets traded mixed on Monday, with investors alert for any trade related headlines in the countdown to US president Donald Trump?s tariff deadline.
Asian equities also traded lower amid continued uncertainty surrounding US trade policy. President Donald Trump confirmed that the reciprocal tariffs announced in April will take effect on August 1 for countries that have not reached a trade agreement with the US.
US Treasury Secretary Scott Bessent reiterated that the tariffs introduced in April will be enforced starting August 1. While he clarified that this date does not represent a new deadline, he noted it may provide additional time for trade partners to renegotiate terms.
The Reserve Bank of Australia has commenced its two-day policy meeting, with markets widely expecting a 25 basis point rate cut, which would bring the benchmark rate down to 3.60%.
On Thursday, US equity indices closed at record highs, supported by optimism that the administration may again delay the imposition of tariffs. The S&P 500 gained 0.8%, the NASDAQ Composite advanced 1%, and the Dow Jones Industrial Average rose 0.8%. U.S. market was closed Friday for the Independence Day holiday.
Strength in technology stocks also contributed to the rally, with continued investor interest in major artificial intelligence firms such as Nvidia.
Meanwhile, the US economy added 147,000 nonfarm payroll jobs in June, while the unemployment rate held steady at 4.1%, according to the Bureau of Labor Statistics. The labor market data suggests underlying resilience, prompting a reduction in expectations for imminent rate cuts.
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