INSUBCONTINENT EXCLUSIVE:
Indian benchmark indices closed higher on Friday, supported by gains in financial and IT stocks, after a turbulent session that saw sharp
The Sensex fell over 400 points from its day's high, while the Nifty slipped 135 points from its peak, as investor caution prevailed.Markets
remained jittery amid uncertainty over a potential India-U.S
the Indian securities market over alleged manipulation in the derivatives segment.The BSE Sensex rose 193.42 points, or 0.23%, to end at
The NSE Nifty advanced 55.70 points, or 0.22%, to close at 25,461.The market capitalization of all listed companies on the BSE increased by
Rs 5.32 lakh crore to Rs 461.19 lakh crore.Among the 30 Sensex constituents, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL
Technologies, and UltraTech Cement were the top gainers, rising between 0.8% and 1.6%.
Live EventsFinancial stocks lent support to the
benchmarks, with the Nifty Financial Services index closing 0.5% higher
ICICI Bank, a key index heavyweight, rose 1.2%.Investor sentiment remained cautious ahead of a potential India-U.S
trade deal, with eyes on former U.S
Midcap 100 indices ending flat.In stock-specific action, Bajaj Finance gained 1.6% after reporting a 25% year-on-year rise in assets under
management (AUM) in its pre-quarterly update.Marico advanced 2.5% after the consumer goods firm posted low-twenties percentage revenue
growth for the June quarter, supported by improving rural demand.On the flip side, shares of Trent plunged 11.9% after the fashion retailer
flagged a slowdown in revenue growth at its Annual General Meeting (AGM) and reported a sequential decline in June-quarter revenue
regulator Sebi barred U.S.-based Jane Street Group from the Indian securities market and impounded alleged unlawful gains of Rs 4,843 crore
for manipulating stock indices through derivatives trades.Expert ViewThe Indian market is experiencing a pause as investors adopt a
wait-and-watch strategy ahead of the impending U.S
tariff deadline with mixed global cues, said Vinod Nair, Head of Research, Geojit Investments, adding that ongoing FII outflows reflect a
risk-off approach, while DII inflows are offering partial support
"Following the recent rally, main indices are hovering near peak valuation levels, limiting further upside, which is highly dependent on Q1
earnings and details of the trade deal
In the mid- and small-cap space, the market has shifted to being more stock-specific following the recent recovery," said Nair.The daily
chart of the Nifty shows the formation of a hammer pattern, which is generally considered a bullish reversal signal, said Rupak De, Senior
Technical Analyst at LKP Securities, adding that key support lies at 25,300, and as long as the index remains above this level, bullish
sentiment is expected to persist, with the potential for a swift rebound
Immediate resistance is placed at 25,500; a breakout above this level could further strengthen the upward momentum," said De.Global
MarketsWord equities were mixed on Friday, with most markets slipping even as U.S
stocks extended their record-setting rally, amid rising uncertainty over upcoming U.S
Washington is expected to begin notifying countries on Friday of the new tariff rates they will face on goods exported to the U.S.,
signalling a shift away from previous commitments to negotiate a series of bilateral trade deals.President Donald Trump, speaking before his
departure for Iowa on Thursday, said letters would be sent to 10 countries at a time, outlining tariff rates of 20% to 30%
The pause on higher tariffs expires on July 9, with several major trading partners, including the European Union and Japan, yet to reach
