The key equity benchmarks traded with minor gains in early trade. The Nifty traded above the 25,450 mark. Private bank, oil & gas and metal shares advanced, while consumer durables, pharma and realty stocks declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 73.22 points or 0.09% to 83,515.72. The Nifty 50 index added 21.20 points or 0.08% to 25,478.15
In the broader market, the S&P BSE Mid-Cap index rose 0.09% and the S&P BSE Small-Cap index added 0.48%.
The market breadth was strong. On the BSE, 1,952 shares rose and 819 shares fell. A total of 146 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 321.16 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,853.39 crore in the Indian equity market on 7 July 2025, provisional data showed.
Stocks in Spotlight:
Kotak Mahindra Bank rose 3.68% after the bank’s average total deposits jumped 12.9% to Rs 4,91,998 crore as of 30th June 2025 compared with Rs 4,35,603 crore as of 30th June 2024. Average CASA increased 4.2% to Rs 1,91,995 crore as of 30th June 2025 as against 1,84,306 crore as of 30th June 2024.
Mahindra & Mahindra shed 0.57%. The company’s total sales jumped 14.27% to 76,335 units in June 2025 compared with 66,800 units in June 2024. Total exports rose 1.42% to 2,634 units in June 2025 compared with 2,597 units in June 2024.
Macrotech Developers shed 0.44%. The company reported a 10% jump in pre-sales to Rs 4,450 crore in Q1 FY26 compared with Rs 4,030 crore in Q1 FY25. Collections rose 7% YoY to Rs 2,880 crore in Q1 FY26.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.02% to 6.293 from the previous close of 6.294.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.6900 compared with its close of 85.9400 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement shed 0.18% to Rs 97,092.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.27% to 97.30.
The United States 10-year bond yield rose 0.34% to 4.380.
In the commodities market, Brent crude for September 2025 settlement shed 30 cents or 0.43% to $69.28 a barrel.
Global Markets:
US Dow Jones futures slipped 40 points, pointing to a weaker open for Wall Street, as investors digested a slew of new trade and political headlines.
In contrast, Asian markets saw broad gains, brushing off fresh tariff threats from US President Donald Trump. Trump, in a series of posts on Truth Social, announced steep new duties on goods from 14 countries, including key Asia-Pacific partners.
Starting August 1, exports to the US from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia will face 25% tariffs. Indonesia is set to be hit with a 32% excise duty, while Bangladesh, Cambodia, and Thailand will see 35% to 36% rates. Imports from Laos and Myanmar will be subject to a 40% duty.
Despite the tariff escalation, risk appetite remained firm across Asian bourses, though Wall Street reflected a more cautious tone overnight.
US stocks pulled back from record highs on Monday, pressured by profit-taking and increased risk aversion in the tech sector. The S&P 500 fell 0.8%, the Nasdaq Composite dropped 0.9%, and the Dow Jones Industrial Average also slid 0.9%.
Tesla shares plunged, wiping out $68 billion in market capitalization, after CEO Elon Musk announced plans to launch a new political party. The move sparked concerns over further distractions from his leadership at the EV giant.
In positive corporate news, Kalvista Pharmaceuticals rallied after the FDA approved its on-demand oral treatment for hereditary angioedema, marking the first of its kind in the US market.
Looking ahead, investors are awaiting the minutes of the Federal Reserve’s June policy meeting, scheduled for release Wednesday.