Nifty trades above 25,000 level; European mrkt opens lower

The frontline indices traded with modest gains in the afternoon trade, lifted by strong Q1 results from HDFC Bank, ICICI Bank, and Reliance Industries, helping offset global trade uncertainties. The Nifty traded above the 25,000 level. Oil & gas, PSU bank and auto shares advanced, while realty and IT shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, advanced 290.75 points or 0.36% to 82,048.48. The Nifty 50 index added 76.85 points or 0.31% to 25,044.90.

In the broader market The S&P BSE Mid-Cap index rallied 0.54% and the S&P BSE Small-Cap index rose 0.13%.

The market breadth was negative. On the BSE, 1,945 shares rose and 2,068 shares fell. A total of 204 shares were unchanged.

Economy:

India's forex reserves fell $3.04 billion to $699.74 billion for the week ending July 4, data by the Reserve Bank of India showed on Friday.

For the week ending on July 4, foreign currency assets, a major component of the reserves, decreased $3.53 billion to $591.29 billion.

Gold reserves were up by $342 million to stand at $84.5 billion during the week, the RBI said.

The special drawing rights (SDR) were up $39 million to $18.86 billion.

As per the data, India's reserve position with the IMF was also down $107 million at $4.73 billion in the reporting week.

Gainers & Losers:

ETERNAL (up 2.78%), ICICI Bank (up 2.48%), HDFC Bank (up 2.02%), HDFC Life Insurance Company (up 1.69%) and Bharat Electronics (up 1.06%) were the major Nifty50 gainers.

Reliance Industries (down 3.08%), IndusInd Bank (down 2.87%), Wipro (down 2.06%), HCL Technologies (down 1.32%) and Eicher Motors (down 1%) were the major Nifty50 losers.

HDFC Bank rose 2.06% after the bank's profit after tax (PAT) for the quarter ended June 2025 stood at Rs 18155.21 crore, a growth of 12.24% over the quarter ended June 2024. Net interest income (interest earned less interest expended) for the quarter ended June 2025 grew by 5.4% to Rs 31,440 crore from Rs 29,840 crore for the quarter ended June 2024.

ICICI Bank rose 2.36% after the bank reported a standalone net profit of Rs 12,768.21 crore in Q1 FY26, up 15.45% as against Rs 11,059.11 crore posted in Q1 FY25. Total income increased 11.85% year on year (YoY) to Rs 51,451.81 crore in Q1 FY26.

Stocks in Spotlight:

Dodla Dairy declined 7.09% after the companys consolidated net profit fell 3.31% to Rs 62.87 crore despite a 10.45% jump in revenue from operations to Rs 1,006.86 crore in Q1 FY26 over Q1 FY25.

City Union Bank slipped 0.75%. The bank's net profit fell 17.44% to Rs 4,115.53 crore on a 4.49% decline in total income to Rs 31,781.34 crore in Q1 FY26 over Q4 FY25.

India Cements dropped 2.66% after the company reported a consolidated net loss of Rs 132.90 crore in Q1 FY26 as against a net profit of Rs 58.47 crore posted in Q1 FY25. However, revenue from operations rose marginally by 0.2% year-on-year (YoY) to Rs 1,024.74 crore in Q1 FY26.

Global Markets:

European shares opened lower on Monday after U.S. President Donald Trump announced earlier in July a 30% tariff on EU imports, effective August 1. While the EU has expressed hope for a trade deal before the deadline, an agreement remains elusive.

Most Asian stocks traded higher after the Peoples Bank of China opted to leave its key loan prime rates unchanged, keeping the 1-year rate at 3.0% and the 5-year rate at 3.5%. This move provided a measure of stability in the region, even as broader market sentiment remained shaped by renewed concerns over global trade policy.

Trade developments came back into focus over the weekend following strong signals from Washington. The White House reiterated its stance on tariffs, with U.S. Commerce Secretary Howard Lutnick designating August 1 as the definitive deadline for countries to begin paying newly announced tariffs. Still, Lutnick added that negotiations could continue beyond that date, suggesting a potential window for ongoing dialogue.

In the U.S., major equity indices lost some ground on Friday as uncertainty around the Trump administrations trade strategy persisted. Reports indicated that President Trump remained intent on imposing a 15% to 20% levy on the European Union, even if a broader deal is reached, while the EU was said to be arguing for a 10% tariff in response. Despite continued statements from the White House about ongoing negotiations, the number of new trade deals announced remains notably lower than what Trump had promised earlier in the year.

Powered by Capital Market - Live News