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WEEKLY REPORT
The Indian benchmark indices snapped two-week gaining streak in the volatile week ended on July 4 as investors remained cautious ahead of the impending US tariff deadline.
For the week, the BSE Sensex index shed 626.01 points or 0.74 percent to close at 83,432.89, and Nifty50 fell 176.8 points or 0.68 percent to end at 25,461.
During the week, Trent lost the most in terms of market value, followed by HDFC Bank, Kotak Mahindra Bank, Axis Bank. On the other hand, Reliance Industries, Infosys, Bharat Electronics added the most of their market-cap.
On the sectoral, Nifty Realty index shed 2 percent, Nifty Bank index shed 0.7 percent, Nifty FMCG index fell 0.7 percent, while Nifty Pharma, Nifty PSU Bank indices added 2 percent each, Nifty IT and Media indices jumped nearly 1 percent each.
Taking a look at the broader market indices the BSE Small-cap Index increased 1 percent, and the BSE Mid-cap Index also added 0.6 percent, while the BSE Large-cap index shed 0.6 percent.
The Foreign Institutional Investors (FIIs) broke two-week buying streak as they sold equities worth Rs 6,604.56 crore. On the other hand, Domestic Institutional Investors (DII) continued their buying in 11th consecutive week as they purchased equities worth Rs 7,609.42 crore.
The Indian rupee extended the gain in the second week as domestic currency ended marginally higher at 85.39 per dollar on July 4 against the June 27 closing of 85.49.
ECONOMY NEWS
World Bank Cuts Thailand’s GDP
The World Bank stated on Thursday that due to growing domestic and international challenges, Thailand’s economic growth is anticipated to slow to 1.8% this year and 1.7% next year. The growth estimates were lowered from February’s 2.9% and 2.7% projections, respectively. GDP grew by 2.5% last year.
This slowed down growth indicates weaker global demand, softening domestic consumption, reduced tourist inflows from China, and political instability surrounding the suspension of PM Paetongtarn Shinawatra.
India Plans $230 million drone manufacturing subsidy
In response to the drone incidents along the India-Pakistan border in May, India has unveiled a $234 million (₹2,000 crore) incentive programme spread over three years aimed at expanding its indigenous drone ecosystem. Over 600 drone firms will benefit from low-interest loans via SIDBI to reduce dependence on Chinese imports. The government targets 40% local production of key drone parts by FY 2027–28. This builds on earlier schemes and aligns with India’s broader defense and Make in India goals.
STOCKS IN NEWS
Angel One
Shares of the company saw a 5.35 percent decrease over the week, after the brokerage reported a sharp drop in its gross client acquisition for June. According to the company’s exchange filing, gross client acquisition fell 41.5 percent year-on-year to 5.5 lakh in June. On a month-on-month basis, however, the number rose 9.3 percent.
Nuvama Wealth Management
The company is Jane Street’s domestic trading partner. SEBI has restrained Jane Street Group from accessing the local securities market, dealing a severe hit to the US trading firm that generated more than $2.3 billion in net revenue from equity derivatives in the South Asian nation last year. Due to this, the shares have decreased by over 13 percent this week.
PC Jeweller
The shares of PC Jeweller closed over 34 percent higher this week, after the company reported around 80 percent growth in revenue during the April-June quarter of this financial year on strong demand and said it will become debt-free this fiscal.
Bharat Electronics
The Indian Public Sector Company saw over a 3 percent increase this week, after the Navratna defence public sector undertaking (PSU) company secured additional orders worth Rs 528 crore. This comes just a week after the defence major announced orders worth Rs 585 crore. The stock is up over 45 percent since the beginning of the year.
JB Chemicals
The company’s shares decreased around 3 percent this week, after Torrent Pharmaceuticals acquired a controlling stake in the company from global private equity firm KKR at an equity valuation of Rs 25,689 crore (fully diluted basis). This marks the second-largest deal in India’s pharma sector, behind Sun Pharma’s 2015 acquisition of Ranbaxy.
Source – Moneycontrol, Reuters