Early in the day, the Nifty slips below 25,450 and the Sensex holds near 83,400
The Indian stock market trades cautiously today. Both benchmark indices move within a narrow range. The Nifty 50 ends the day at 25,461.30, while the BSE Sensex settles at 83,422.50. Investors react to global tariff concerns and mixed domestic cues. Early in the day, the Nifty slips below 25,450 and the Sensex holds near 83,400. As the session progresses, market participants wait for clarity from global developments.
Banking and Oil & Gas Stocks Gain, IT and FMCG Decline
Banking and oil & gas sectors lift the market. Private banks show strength throughout the day. Kotak Mahindra Bank jumps by nearly 4% after reporting strong quarterly results. Investors show confidence in the bank’s growth and financial performance.
At the same time, several sectors trade lower. IT, FMCG, auto, healthcare, and mid-cap stocks decline between 0.2% and 0.8%. Titan suffers the biggest fall among large-cap stocks, losing almost 5% after posting weak earnings. Traders express concern over Titan’s slower-than-expected sales growth in the last quarter.
Textile Stocks Rally After Global Trade Shift
Textile stocks show strong upward momentum today. Gokaldas Exports, Vardhman Textiles, and Alok Industries gain between 5% and 8%. These gains come after the United States increased tariffs on garments imported from Bangladesh. With higher tariffs on Bangladeshi goods, Indian textile companies expect more export orders. Investors respond positively to the possibility of higher revenues and improved profit margins for domestic garment makers.
Derivatives Market Shows Range-Bound Sentiment
In the derivatives segment, July Nifty futures trade slightly above the spot price, indicating cautious optimism. Traders remain active at 25,000 and 26,000 strike prices, suggesting a range-bound outlook. Technical indicators show strong support at 25,400 for the Nifty. If the index falls below this level, it may decline further to 25,250 or even 25,100. On the upside, resistance stands near 25,500, and a move above this could push the index towards 25,800.
Bond Market Stable, Rupee Weakens Slightly
The Indian bond market shows little movement today. The 10-year government bond yield remains close to 6.30%, showing stability despite global economic concerns.
In the currency market, the rupee weakened to ₹85.86 against the US dollar. This marks its lowest level since mid-June. The day starts with some strength, but the rupee loses ground as demand for the dollar increases due to trade uncertainty.
SEBI Acts Against Market Manipulation
The Securities and Exchange Board of India (SEBI) takes strict action today. It bars global trading firm Jane Street from participating in Indian markets. SEBI accuses the firm of manipulating the Bank Nifty index. The regulator also freezes approximately ₹48,000 crore of funds linked to suspicious trades.
This action raises concerns about foreign activity in India’s derivatives market. SEBI’s strong response boosts investor trust, even as market participants demand tighter regulations. Many experts believe SEBI will increase surveillance in the coming weeks.
Brokerage Houses Share Bullish Calls on Select Stocks
Brokerage firms issue fresh buy calls on a few companies today. B&K Securities initiates coverage on Dixon Technologies with a target price of nearly ₹18,950. Analysts expect Dixon to benefit from India’s electronics manufacturing growth. They project strong earnings growth over the next two years, driven by new orders and capacity expansion.
Meanwhile, Mirae Asset’s Sharekhan recommends Jio Financial Services and Varun Beverages. For Jio Financial, the firm suggests a buy between ₹326 and ₹330, targeting ₹345. Varun Beverages gets a buy recommendation between ₹462 and ₹466, with a target of ₹493. These picks reflect the brokers’ belief in solid technical setups and strong demand.
Mixed Interest in New IPOs
The primary market sees mixed interest today. Small and medium enterprises (SMEs) like Cryogenic OGS and Happy Square Outsourcing wait for final allotments after recent IPO closures. Investors watch these issues closely to gauge retail enthusiasm in SME listings.
In the broader IPO segment, Glen Industries receives a positive response. The issue price remains in the ₹92–₹97 range. Subscription data shows steady demand, especially from retail investors and institutional buyers. Analysts note a strong appetite for quality mid-sized companies, even as overall market sentiment stays cautious.
Global Trade Tensions Keep Traders on Alert
Global developments continue to influence Indian markets. The United States plans to impose 25% tariffs on goods from multiple countries. Although the implementation is delayed until August 1, markets show signs of stress.
India remains in active discussions with the US over a possible trade deal. Traders expect a final announcement soon. The outcome could affect export-driven sectors like textiles, chemicals, and IT services. Uncertainty in global trade keeps investors wary and trading volumes light.
Earlier in the year, similar trade tensions led to major foreign portfolio investor (FPI) outflows from India. The Reserve Bank of India (RBI) stepped in to stabilize the currency and maintain liquidity. Many believe the central bank will act again if volatility rises.
Top Gainers and Losers Today
Among the top performers, Kotak Mahindra Bank stands out with strong gains. Investors react positively to the bank’s earnings and outlook. Gokaldas Exports and Vardhman Textiles also lead the pack on export optimism.
On the downside, Titan faces selling pressure due to weak earnings. Other losers include stocks in the FMCG and auto space, reflecting concerns over slower demand recovery in rural and semi-urban markets.
The Indian stock market ends the day in a tight range as investors stay cautious. Banking and export-driven stocks perform well, while IT and consumer names lag. Global trade policy and regulatory actions play a major role in shaping investor behavior. Market participants now look forward to the earnings season and trade negotiations for stronger cues. Until then, volatility may continue, and sentiment will remain sensitive to both domestic and global developments.
