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Trendlyne Marketwatch
10 Jul 2025, 04:12PM
Market closes lower, SBI plans a Rs 25,000 crore share sale via a QIP
By Trendlyne Analysis

 

Nifty 50 closed at 25,355.25 (-120.9, -0.5%) , BSE Sensex closed at 83,190.28 (-345.8, -0.4%) while the broader Nifty 500 closed at 23,471.40 (-86.1, -0.4%). Market breadth is neutral. Of the 2,467 stocks traded today, 1,179 were on the uptrend, and 1,248 went down.

Indian indices closed in the red amid uncertainties over India-US trade deal and weak expected Q1 earnings growth. The Indian volatility index, Nifty VIX, declined 2.2% and closed at 11.7 points. Oil India signed a 15-year agreement with GAIL (India) to supply natural gas from its Rajasthan gas field.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. S&P BSE SME IPO and Nifty Realty were among the top index gainers today. According to Trendlyne’s Sector dashboard, Realty emerged as the best-performing sector of the day, with a rise of 0.7%.

Asian indices closed mixed, while European indices are trading in the green. US index futures traded in the red indicating a cautious start to the trading session. Minutes from the US Fed’s FOMC meeting revealed mixed views on rate cuts. Officials were divided, with some worried about inflation driven by tariffs, while others pointed to labor market weakness and overall economic strength as reasons to ease rates. Market Committee members voted unanimously to hold the central bank’s key borrowing rate in a range between 4.25-4.5%, where it has been since December 2024.

  • Bharat Dynamics (BDL) sees a short buildup in its July 31 futures series, with open interest increasing by 19.4% and a put-call ratio of 0.7.

  • JSW Energy surges following its inclusion in the FTSE Russell’s FTSE4Good Index. The index features companies with strong performance in areas such as corporate governance, climate action, health and safety, and anti-corruption.

  • Sindhu Trade Links plans to invest up to $100 million (~Rs 856 crore) to explore acquisition opportunities in lithium and rare earth mining, both in India and overseas.

  • Axis Direct initiates coverage on Gujarat Industries Power (GIPCL) with a 'Buy' call and a target price of Rs 242 per share. This indicates a potential upside of 11.9%. The brokerage is confident in the company's growth on the back of renewable energy capacity expansion and a strong thermal power portfolio. It expects the firm's revenue to grow at a CAGR of 19.1% over FY26-27.

  • JM Financial anticipates a 1.4% drop in TCS’ Q1FY26 revenue compared to the December quarter. While a 200 basis points currency tailwind may support US Dollar revenue, the ramp-down of the BSNL deal is expected to weigh on the company’s topline.

  • State Bank of India reportedly plans to sell up to Rs 25,000 crore worth of shares to institutional investors as early as next week via a qualified institutional placement (QIP). The move aims to support loan growth, strengthen its balance sheet, and meet regulatory requirements.

  • JTL Industries surges as it plans to expand its Electric Resistance Welded (ERW) pipes capacity by 3 lakh metric tonnes per annum (MTPA) for ASTM/API-grade segments. The line will produce round, square, and rectangular sections with thicknesses up to 16 mm and is expected to be operational within 12 months.

  • Quality Power Electrical Equipments rises sharply as it acquires a 100% stake in Sukrut Electric, with Yash Highvoltage. Quality Power and Yash Highvoltage will hold a 50% stake, each, in the company.

  • The Nifty India Defence Index drops 2%, with analysts pointing to high valuations, easing geopolitical tensions, profit booking, and absence of fresh triggers as key reasons behind the fall in defence stocks.

  • Indian Renewable Energy Development Agency is rising as it receives approval from the Central Board of Direct Taxes, Department of Revenue, to issue capital gain exemption bonds.

  • Quick Heal Technologies is falling as its Chief Executive Officer (CEO), Vishal Salvi, tenders his resignation to pursue a different career path, effective August 31.

  • ICICI Prudential Life Insurance is falling as its annualised premium equivalent (APE) declines 5% YoY to Rs 1,864 crore in Q1FY26 due to a reduction in retail APE. However, the new business premium grows 40.1% YoY, and the new business sum assured rises 36.3% YoY.

  • JSW Group is reportedly looking to increase its stake in EV joint venture JSW MG Motor India, aiming to become the largest shareholder. Its Chinese partner, SAIC Motor, is unlikely to invest further in India, focusing instead on Europe and its domestic market. Currently, JSW Group is the second-largest shareholder in the JV with a 35% stake.

  • Indosolar surges to hit its 5% upper circuit as its promoter, Waaree Energies, plans to sell a 2.4% stake in the firm via the Offer for Sale (OFS) route. The floor price for the offer is Rs 265 per share.

  • JTEKT India's board of directors schedules a meeting on July 15 to consider raising funds through a rights issue of equity shares or other securities.

  • Jash Engineering is rising as it plans to acquire a 100% stake in WesTech Process Equipment India (WPEIPL) to enter the industrial water process equipment segment in India. The acquisition will also help the company to enter the mining, metal and paper segments in the country.

  • HSBC maintains a 'Buy' rating on Marico with a higher target price of Rs 850. It sees Oats and Plix as the main growth drivers in the company’s diverse foods business. It also expects the Direct-to-Consumer (D2C) segment to provide steady growth and margins. The brokerage highlights that the company reported a volume growth of 7% in Q4, which was higher than expectations of a 5-6% growth from last year.

  • Asian Paints sold 20.1 lakh shares (4.4% stake) in Akzo Nobel for Rs 734 crore via a bulk deal on Wednesday at an average price of Rs 3,651 per share.

  • Embassy Office Park fall as APAC Company (Bain Capital) to sell a 1.9% stake in the firm worth approximately Rs 681 crore, reportedly via a block deal at an average price of Rs 382 per share.

  • Crizac rises sharply as Sunil Singhania buys 36.7 lakh shares worth Rs 109.5 crore on Wednesday.

  • Goldman Sachs forecasts India’s power demand to grow at a 7.2% CAGR through FY35, driven by broader electrification and rising household consumption from higher incomes and appliance use. The firm warns this increased demand could lead to a 4% annual energy shortfall by FY35 and sees coal as the unavoidable fallback, given limitations of alternative sources.

  • NIIT Learning Systems rises as its subsidiary, NIIT (Ireland), acquires Germany-based MTS Group for a consideration of Euro 22.4 million (~ Rs 224.7 crore).

  • Oil India is rising as it signs a 15-year agreement with GAIL (India) to supply up to 900,000 standard cubic meters per day (SCMD) of natural gas from its Rajasthan gas field. The gas will be used by state-run Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for power generation.

  • Enviro Infra Engineers surges as its joint venture (JV) with AltoraPro Infrastructure secures an order worth Rs 395.5 crore from Maharashtra Industrial Development Corporation (MIDC). The work involves improving wastewater plants to stop untreated water from reaching the Panchganga River in three industrial areas of Kolhapur district.

  • Amber Enterprises' board of directors schedules a meeting for July 12 to consider raising Rs 2,500 crore by issuing securities.

  • Nifty 50 was trading at 25,470.20 (-5.9, 0.0%), BSE Sensex was trading at 83,658.20 (122.1, 0.2%) while the broader Nifty 500 was trading at 23,573.85 (16.4, 0.1%).

  • Market breadth is highly positive. Of the 1,993 stocks traded today, 1,435 showed gains, and 513 showed losses.

Riding High:

Largecap and midcap gainers today include JSW Energy Ltd. (530.55, 3.0%), Lloyds Metals & Energy Ltd. (1,522.50, 2.9%) and Prestige Estates Projects Ltd. (1,696.50, 2.8%).

Downers:

Largecap and midcap losers today include Solar Industries India Ltd. (15,904, -3.6%), PI Industries Ltd. (4,043.70, -3.0%) and Bharti Airtel Ltd. (1,964.50, -2.7%).

Volume Rockets

24 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Kirloskar Oil Engines Ltd. (918.10, 10.4%), Lemon Tree Hotels Ltd. (158.11, 8.3%) and Campus Activewear Ltd. (287.55, 6.2%).

Top high volume losers on BSE were Life Insurance Corporation of India (926.55, -2.1%), Century Plyboards (India) Ltd. (734.70, -0.7%) and Kalpataru Projects International Ltd. (1,199.80, 0.0%).

UTI Asset Management Company Ltd. (1,394.40, 3.7%) was trading at 12.6 times of weekly average. Home First Finance Company India Ltd. (1,373.90, 0.8%) and JBM Auto Ltd. (648.80, 2.1%) were trading with volumes 11.7 and 7.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Glenmark Pharmaceuticals Ltd. (1,904, 4.7%), SRF Ltd. (3,259.60, -0.6%) and UltraTech Cement Ltd. (12,516, -0.4%).

Stock making new 52 weeks lows included - Ola Electric Mobility Ltd. (39.95, -1.1%).

18 stocks climbed above their 200 day SMA including Kirloskar Oil Engines Ltd. (918.10, 10.4%) and Campus Activewear Ltd. (287.55, 6.2%). 17 stocks slipped below their 200 SMA including Great Eastern Shipping Company Ltd. (1,006.25, -2.2%) and Aarti Industries Ltd. (448, -2.1%).

 
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