Benchmarks slide for 4th day, Nifty holds 25,000

Equity benchmarks ended lower for the fourth straight session on Monday, slipping despite a softer WPI inflation print. The Nifty closed below the 25,100 mark as selling in IT stocks offset gains in healthcare. Meanwhile, mid- and small-cap stocks bucked the trend, showing positive momentum.

Investors remained cautious ahead of key economic data, including CPI inflation figures from both India and the US, along with fresh corporate earnings and updates on global tariff developments.

The S&P BSE Sensex declined 247.01 points or 0.30% to 82,253.46. The Nifty 50 index lost 67.55 points or 0.27% to 25,082.30. In four consecutive trading sessions, the Sensex and the Nifty have dropped 1.74% and 1.72%, respectively.

Bajaj Finance (down 1.54%), Infosys (down 1.53%) and Reliance Industries (down 0.69%) were major drags.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.67% and the S&P BSE Small-Cap index added 0.57%.

The market breadth was negative. On the BSE, 2,054 shares rose and 2,137 shares fell. A total of 149 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.37% to 11.98.

Economy:

India's wholesale price index (WPI) eased to -0.13% in June 2025, according to data released by the Commerce and Industry ministry on Monday. Since March the WPI has been declining steadily, hitting a 14-month low of 0.39% in the previous month.

The negative rate of inflation in June 2025 is primarily due to decrease in prices of food articles, mineral oils, manufacture of basic metals, crude petroleum & natural gas, etc.

India's forex reserves dropped by $3.049 billion to $699.736 billion in the week ended July 4, the RBI said on Friday.

For the week ended July 4, foreign currency assets, a major component of the reserves, dropped by $3.537 billion to $591.287 billion, the data released on Friday showed.

The gold reserves were up by $342 million to $84.846 billion during the week, the RBI said.

India's reserve position with the IMF jumped by $107 million to $4.735 billion in the reporting week, the apex bank data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.08% to 6.309 from the previous close of 6.300.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.9900 compared with its close of 85.8000 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.57% to Rs 98,380.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 97.87.

The United States 10-year bond yield rose 0.16% to 4.297.

In the commodities market, Brent crude for August 2025 settlement rose $1 or 1.42% to $71.36 a barrel.

Global Markets:

US Dow Jones futures dropped 141 points, hinting at a weak start for Wall Street today.

Most European shares declined on Monday after U.S. President Donald Trump threatened a 30% tariff on the European Union, which would practically eradicate trade between the two economic powers.

Asian equities ended higher as markets weighed the impact of fresh trade tariff announcements by U.S. President Donald Trump. Investor attention also turned toward a string of key economic data releases from China expected this week.

In Japan, core machinery orders slipped 0.6% in May on a month-on-month, seasonally adjusted basis, according to the Cabinet Office. However, on a year-on-year basis, orders rose 4.4%, outperforming the 3.4% growth forecast by analysts, as per LSEG data.

Singapore?s economy delivered a better-than-expected performance in the second quarter, growing 4.3% year-on-year compared to 3.9% in the previous quarter. On a quarterly basis, GDP expanded 1.4%, marking a strong rebound from the 0.5% contraction seen earlier.

Tensions flared over the weekend as President Trump unveiled new 30% tariffs on imports from Mexico and the European Union, effective August 1, 2025. This follows an aggressive series of levies in the past week targeting Japan, South Korea, Canada, Brazil, and a 50% duty on all copper imports.

Leaders from the EU and Mexico signaled their intention to continue negotiations with the U.S. administration in hopes of securing lower tariff rates before the new duties kick in.

Wall Street ended lower on Friday as trade anxieties mounted. The Dow Jones Industrial Average dropped 0.63%, the S&P 500 shed 0.33%, and the NASDAQ Composite eased 0.22%, following Trump?s threat of a 35% tariff on Canadian goods.

New Listing:

Shares of Travel Food Services settled at Rs 1075.20 on the BSE, representing a discount of 2.25% compared with the issue price of Rs 1,100.

The scrip was listed at Rs 1,126.20, exhibiting a premium of 2.38% to the issue price. The stock has hit a high of 1,128.90 and a low of 1,065.20. On the BSE, over 5.64 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Avenue Supermarts (Dmart) fell 1.26%. The company?s consolidated net profit fell 0.11% to Rs 772.97 crore despite a 16.28% jump in revenue from operations to Rs 16,359.70 crore in Q1 FY26 over Q1 FY25. The company opened 9 stores during the quarter. Its total store stands at 424 as on 30th June 2025.

Ola Electric Mobility soared 18.36% after the company?s consolidated net loss narrowed to Rs 420 crore in Q1 FY26 as against net loss of Rs 870 crore in Q4 FY25. Revenue from operations jumped 35.52% QoQ to Rs 828 crore in Q1 FY26.

VIP Industries jumped 5.64%. The company announced that Dilip Piramal and Family (promoters) entered into a definitive agreement with the Multiples Consortium to sell up to 32% stake in the company. Following the 32% acquisition, the buyer consortium will launch an offer to acquire another 26% from public shareholders, pushing the potential total acquisition to 58% of the company.

Castrol India advanced 1.30% after winning a Rs 4,131 crore MVAT tax case against the Maharashtra Sales Tax Department (MSTD).

Nelco fell 4.37% after the company's consolidated net profit tanked 60.52% to Rs 1.80 crore in Q1 FY26, compared with Rs 4.56 crore in Q1 FY25. However, total income stood rose 1.57% year-on-year to Rs 75.36 crore in the first quarter of FY26.

BEML jumped 3.8% after the company said its board is scheduled to meet on Monday, 21 July 2025, to discuss and potentially approve the sub-division/split of equity shares.

Desco Infratech rallied 4.84% after the company announced that it has secured multiple orders totaling Rs 9.53 crore. According to an exchange filing, the orders have been received from Bharat Petroleum Corporation, Torrent Gas Chennai and Maharashtra Natural Gas. The scope of work includes the laying of a PE network and associated works for the City Gas Distribution (CGD) project in Ahmednagar, MDPE pipeline laying and PNG connections in Chennai, as well as a service contract for patrolling and surveillance support of a gas pipeline network in Pune.

Sula Vineyards shed 0.67%. The company reported a 7.9% fall in net revenue to Rs 118.3 crore in Q1 FY26 as against Rs 128.4 crore recorded in Q1 FY25. Revenue from the company?s own brands declined 10.8% year-on-year (YoY) to Rs 102.3 crore in Q1 FY26. This decline was due to a slowdown in urban consumption and the effects of excise-driven trade pre-loading in Maharashtra. The company's wine tourism segment posted revenue of Rs 13.7 crore in Q1 FY26, up 21.8% as against Rs 11.3 crore in the year-ago period.

Kolte-Patil Developers rose 0.34%. The company has reported a 13.3% decline in sales value to Rs 616 crore in the first quarter of FY26, down from Rs 711 crore recorded in the same quarter last year. Collections during the quarter dropped 10.1% year-on-year and 21.8% quarter-on-quarter, standing at Rs 550 crore.

IPO Update:

The initial public offer (IPO) of Anthem Biosciences received bids for 3,11,33,804 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 16:45 IST on Monday (14 July 2025). The issue was subscribed 0.71 times.

The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

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