Nifty trades below 25,100 level; European mrkt opens higher

The frontline indices traded with modest losses in the afternoon trade, weighed down by selling in IT, realty and FMCG stocks. The Nifty traded below the 25,100 level.

IT, realty and FMCG shares declined, while pharma, metal and auto shares advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 554 points or 0.67% to 82,172.64. The Nifty 50 index declined 162.60 points or 0.64% to 25,060.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.49% and the S&P BSE Small-Cap index shed 0.38%.

The overall market breadth was negative, with more stocks declining than advancing. On the BSE, 2,397 shares fell, while 1,532 shares advanced. 182 shares remained unchanged.

Economy:

The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates. The latest figure signaled a robust expansion in manufacturing activity and marked the highest reading in nearly 17 and a half years, highlighting the sector's continued momentum.

The HSBC India Services PMI declined to 59.4 in July 2025 from 60.4 in the previous month, preliminary readings showed. The latest figure marked a slowdown from the fastest expansion in ten months, as output growth eased compared to the prior month.

The HSBC India Composite PMI fell to 60.7 in July 2025 from a final 61.0 in June, which was a 14-month high, flash data showed. Despite the slight dip, the latest result remained well above its long-run average of 54.8. Services activity rose at a slightly slower pace, though still robust by historical standards, while manufacturing output grew the most since April 2024.

Gainers & Losers:

Eternal (up 3.01%), Dr. Reddy's Laboratories (up 2.63%), Tata Motors (up 1.54%), Tata Consumer Products (up 0.96%) and Cipla (up 0.88%) were the major Nifty50 gainers.

Nestle India (down 4.62%), Trent (down 3.28%), Shriram Finance (down 2.98%), Tech Mahindra (down 2.99%) and HCL Technologies (down 1.58%) were the major Nifty50 losers.

Stocks in Spotlight:

Dr. Reddy?s Laboratories added 2.57% after the company?s consolidated net profit rose 1.8% to Rs 1,418.10 crore on 11.4% increase in revenue from operations to Rs 8,545.20 crore in Q1 FY26 over Q1 FY25.

Thyrocare Technologies surged 10.53% after the healthcare service provider reported a 61.07% increase in consolidated net profit to Rs 38.93 crore on a 23.02% rise in revenue from operations to Rs 193.03 crore in Q1 FY26 over Q1 FY25.

Cigniti Technologies declined 7.66% after the company?s consolidated net profit dropped 9.97% to Rs 65.9 crore on a 0.74% rise in revenue to Rs 534.2 crore in Q1 FY26 over Q4 FY25.

Force Motors rallied 14.59% after the company reported a 52.39% surge in consolidated net profit to Rs 176.36 crore on a 21.88% rise in revenue from operations to Rs 2,297.25 crore in Q1 FY26 over Q1 FY25.

Global Markets:

European shares opened higher on Thursday, while Asian stocks advanced as fresh trade developments between the U.S. and Japan, alongside encouraging signals of a deal with the European Union, buoyed investor sentiment.

Investor focus shifted to Washington?s evolving trade strategy, with U.S. President Donald Trump setting his sights on the European Union after finalizing a sweeping agreement with Japan. Negotiators from both the U.S. and EU are now under pressure to strike a deal by August 1, as the Trump administration appears firm on its tariff timeline.

On Tuesday, the U.S. and Japan sealed what Trump described as the largest trade deal in history. The agreement includes a $550 billion investment from Japan into the U.S. economy. In return, tariffs on Japanese exports to the American market?ranging from automobiles to agricultural goods?have been reduced to 15% from the previously proposed 25%. Trump hailed the deal as a mutually beneficial win that opens Japan?s markets to U.S. cars, trucks, and farm products.

Economic data from Japan, however, painted a mixed picture. The au Jibun manufacturing PMI dropped to 48.8 in July?s preliminary reading, below expectations of 50.2 and down from 50.1 in June, signaling a mild contraction. On the other hand, the services sector showed resilience, with the services PMI rising to 53.5 from 51.7 a month earlier.

Overnight on Wall Street, U.S. equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia on Truth Social. He also hinted at easing tariffs if other nations opened their markets to American goods. Adding to the momentum, Washington unveiled its new ?AI Action (WA: ACT) Plan.?

The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%.

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