Market trades sideways in early trade; Nifty trades above 24,700

Business Standard

4 days ago

The key equity indices traded sideways in early trade as investors closely tracking corporate earnings and the delay in trade talks between India and the U.S. The Nifty traded above the 24,700 level. Realty, metal and auto shares advanced while IT, financial services & consumer durables stocks corrected.
At 09:30 IST, the barometer index, the S&P BSE Sensex declined 22.37 points or 0.03% to 80,913.39. The Nifty 50 index added 21.25 points or 0.04% to 24,702.25.
In the broader market, the S&P BSE Mid-Cap index rallied 0.27% and the S&P BSE Small-Cap index added 0.12%.
The market breadth was negative. On the BSE 1,337 shares rose and 1,402 shares fell. A total of 166 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 6,082.47 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,764.55 crore in the Indian equity market on 28 July 2025, provisional data showed.
Stocks in Spotlight:
Bajaj Healthcare dropped 5.69%. The companys standalone jumped 51.7% to Rs 12.17 crore on 12.5% increase in net sales to Rs 148.84 crore in Q1 FY26 over Q1 FY25.
Quess Corp reported rallied 3.04% after the company reported a 3.75% jump in consolidated net profit to Rs 50.90 crore on 1.8% increase in revenue from operations to Rs 3651.41 crore in Q1 FY26 over Q1 FY25.
Waaree Energies jumped 5.02% after the companys consolidated net profit jumped 89.1% to Rs 745.20 crore in Q1 FY26, compared with Rs 394.14 crore in Q1 FY25. Net sales increased 29.8% YoY to Rs 4425.83 crore in Q1 June 2025.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.02% to 6.372 from the previous close of 6.374.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.8125 compared with its close of 86.7025 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement rose 0.10% to Rs 97,643.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 98.44.
The United States 10-year bond yield fell 0.86% to 4.404.
In the commodities market, Brent crude for August 2025 settlement gained 03 cents or 0.04% to $70.07 a barrel.
Global Markets:
Markets in Asia traded in the red as investors awaited the outcome of the ongoing U.S.-China trade talks.
Investors also await the result of the U.S. Federal Reserve meeting due Wednesday stateside, where it will make a decision on whether to cut interest rates.
On Monday, President Donald Trump announced that a global blanket tariff would likely fall between 15% to 20%. This would affect imports from countries that have not yet negotiated separate trade agreements with the United Statements.
Trump had previously announced that baseline tariffs would be just 10%. The presidents tariffs are expected to go into place on August 1.
On Wall Street, the S&P 500 closed near the flatline on Monday, with the latest trade deal between the U.S. and EU failing to spark a fresh rally.
The broad market index inched up 0.02% to close at 6,389.77, while the Nasdaq Composite gained 0.33% to 21,178.58. The Dow Jones Industrial Average slipped 64.36 points, or 0.14%, to finish the session at 44,837.56.