Nifty 50 ended the session at 24,967.40, declining 144.05 points or 0.57%. Bank Nifty ended the session at 56,253.70, declining 575.10 points or 1.01%. Sensex also ended lower at 81,740.09, declining 519.15 points or 0.63%.
Global Markets
- EU Lowers Russian Oil Price Cap Under New Sanctions Package
- The European Union has approved a fresh sanctions package against Russia, which includes a reduction in the price cap on Russian crude oil exports. The cap limits the price at which non-G7 countries can buy Russian oil while still accessing G7 shipping and insurance services. EU Commission President Ursula von der Leyen said the move aims to strike at the core of Russia’s war economy. While the new cap level hasn’t been disclosed, the EU also sanctioned Rosneft’s largest Indian refinery for the first time. Russia’s oil production averaged 9.19 million barrels per day in June, as the country increasingly relies on a shadow fleet to bypass restrictions.
- Bank of America on the Bank of England
- BoFA Global Research expects the Bank of England to start cutting interest rates in February 2026, eventually bringing the rate down to 3.5%.
- The Dow Jones Futures is currently trading at 44,583.07 levels, or 0.22% up
- The FTSE is currently trading at 8,999.94 levels, or 0.30% up
- DAX is currently trading at 24,465.36 levels, or 0.39% up
Asian Indexes
- Nikkei 225 closed down 0.21%
- Hang Seng closed up 1.32%
- Kospi closed down 0.13%
Stock News
- MPS Ltd: Mukul Agarwal held stock plunged sharply after it disappointed the street’s expectations. Revenue grew just 2.30% QoQ, and its net profit declined by 25% QoQ
- Raymond Ltd: Stock in focus after Antique Broking says that it sees 30% upside in the stock due to value unlocking in its demerged business and also its entry into the different segments.
- Tata Power: Stock in focus after it secured a 120 MWh BESS Battery Energy Storage Purchase Agreement from NHPC Limited for Kerala State Electricity Board Limited.
- Indian Overseas Bank: Banking Stock in focus as it reported 82% jump in net profit on a YoY basis. In Q1, the Gross NPA improved to 1.97% from 2.14% quarter-on-quarter, while the Net NPA improved to 0.32% from 0.37% in the previous quarter.
- Dixon: Stock in focus NITI Aayog proposes that Chinese firms can now take up to 24% stake in Indian companies without any security clearance.
- BEML: Defence Stock in focus after it bagged an order from the Ministry of Defence, for supply of Bulldozer with a contract value of Rs. 185.65 crores approximately
Top gainer/Top loser (Nifty 500):
| Top gainers | Top losers |
|---|---|
| Gujarat Mineral (13.76%) | Valor Estates (-15.03%) |
| Saregama India (4.41%) | Clean Science (-8.73%) |
| PVR INOX (4.31%) | Newgen Software (-6.21%) |
| Chennai Petroleum (3.98%) | Alok Industries (-5.4%) |
| Sammaan Capital (3.64%) | Axis Bank (-5.25%) |
Conclusion
The markets took a dip today, with Nifty, Sensex, and Bank Nifty all finishing in the red, reflecting a bit of a gloomy sentiment. Global cues were a mixed bag, but some stocks like Raymond, Tata Power, and BEML caught attention due to specific company news. On the brighter side, Gujarat Minerals and Saregama were among the gainers, while Valor Estates and Clean Science found themselves on the losing end.
Written by Satyajeet Mukherjee
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