Indices trade with minor losses, realty shares decline

Business Standard

4 days ago

The key equity indices traded with modest losses in the mid-morning trade, weighed down by selling in IT, banking, and financial services stocks. The Nifty traded below the 25,150 mark. Realty shares declined after advancing for previous trading session.
At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 399.47 points or 0.48% to 82,327.17. The Nifty 50 index declined 108.40 points or 0.43% to 25,110.70.
In the Small-Cap segment, Force Motors surged 12.11%, followed by Senores Pharmaceuticals which gained 11.97%, and Mukand, up 10.80%, emerging as the top gainers.
On the downside, Indian Energy Exchange plunged 23%, making it the biggest loser, while Cigniti Technologies dropped 7.72% and Lumax Auto Technologies declined 5.44%.
In the broader market, the S&P BSE Mid-Cap index shed 0.59% and the S&P BSE Small-Cap index fell 0.31%.
The overall market breadth was negative, with more stocks declining than advancing. On the BSE, 2,083 shares fell, while 1,676 shares advanced. 179 shares remained unchanged.
Economy:
The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates. The latest figure signaled a robust expansion in manufacturing activity and marked the highest reading in nearly 17-and-a-half years, highlighting the sector's continued momentum.
The HSBC India Services PMI declined to 59.4 in July 2025 from 60.4 in the previous month, preliminary readings showed. The latest figure marked a slowdown from the fastest expansion in ten months, as output growth eased compared to the prior month.
The HSBC India Composite PMI fell to 60.7 in July 2025 from a final 61.0 in June, which was a 14-month high, flash data showed. Despite the slight dip, the latest result remained well above its long-run average of 54.8. Services activity rose at a slightly slower pace, though still robust by historical standards, while manufacturing output grew the most since April 2024.
IPO Update:
The initial public offer (IPO) of Brigade Hotel Ventures received bids for 1,00,43,000 shares as against 5,11,93,987 shares on offer, according to stock exchange data at 11:20 IST on Thursday (24 July 2025). The issue was subscribed 0.20 times.
The issue opened for bidding on Thursday (24 July 2025) and it will close on Monday (28 July 2025). The price band of the IPO is fixed between Rs 85 and 90 per share. An investor can bid for a minimum of 166 equity shares and in multiples thereof.
The initial public offer (IPO) of Indiqube Spaces bids for 2,05,92,243 shares as against 1,71,48,335 shares on offer, according to stock exchange data at 11:15 IST on Thursday (24 July 2025). The issue was subscribed 1.20 times.
The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
The initial public offer (IPO) of GNG Electronics bids for 21,01,96,728 shares as against 1,41,88,644 shares on offer, according to stock exchange data at 11:15 IST on Thursday (24 July 2025). The issue was subscribed 14.81 times.
The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Realty index fell 1.33% to 957.25. The index declined 4.86% in the previous three trading sessions.
Prestige Estates Projects (down 2.01%), Lodha Developers (down 1.95%), Oberoi Realty (down 1.89%), Sobha (down 1.6%) and DLF (down 1.34%), Godrej Properties (down 0.53%) declined.
On the other hand, Raymond (up 1.14%) ,Brigade Enterprises (up 0.53%) and Anant Raj (up 0.34%) added.
Stocks in Spotlight:
Infosys dropped 1.07% after the companys consolidated net profit declined 1.59% to Rs 6,921 crore despite a 3.31% increase in revenue from operations to Rs 42,279 crore in Q1 FY26 over Q4 FY25.
On a year on year (YoY) basis, the companys net profit and revenue jumped 8.68% and 7.54%, respectively in Q1 FY26.
The companys total contract value (TCV) of large deal wins was $3.8 billion in Q1 FY26, with a net new of 55%. The companys total clients stood at 1,861 as on 30th June 2025 as compared with 1,867 clients as on 30th June 2024.
The IT major has informed that the voluntary attrition rate (LTM IT Services) came in at 14.4% in Q1 FY26, up from 14.1% in Q4 FY25 and 12.7% in Q1 FY25.
Indoco Remedies rose 2.35% after the company announced the receipt of certificate for EU Good Manufacturing Practices (GMP) compliance from the European Health Authorities for its sterile drug product manufacturing facility Goa Plant II.
Global Markets:
Asian market traded higher on Thursday as fresh trade developments between the U.S. and Japan, alongside encouraging signals of a deal with the European Union, buoyed investor sentiment.
Investor focus shifted to Washingtons evolving trade strategy, with U.S. President Donald Trump setting his sights on the European Union after finalizing a sweeping agreement with Japan. Negotiators from both the U.S. and EU are now under pressure to strike a deal by August 1, as the Trump administration appears firm on its tariff timeline.
On Tuesday, the U.S. and Japan sealed what Trump described as "the largest trade deal in history." The agreement includes a $550 billion investment from Japan into the U.S. economy. In return, tariffs on Japanese exports to the American marketranging from automobiles to agricultural goodshave been reduced to 15% from the previously proposed 25%. Trump hailed the deal as a mutually beneficial win that opens Japans markets to U.S. cars, trucks, and farm products.
Economic data from Japan, however, painted a mixed picture. The au Jibun manufacturing PMI dropped to 48.8 in Julys preliminary reading, below expectations of 50.2 and down from 50.1 in June, signaling a mild contraction. On the other hand, the services sector showed resilience, with the services PMI rising to 53.5 from 51.7 a month earlier.
Overnight on Wall Street, U.S. equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia on Truth Social. He also hinted at easing tariffs if other nations opened their markets to American goods. Adding to the momentum, Washington unveiled its new AI Action (WA:ACT) Plan.
The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%.