Benchmarks trade lower; media shares advance
Media shares advanced after declining in the five consecutive trading sessions.
At 11:30 IST, the barometer index, the S&P BSE Sensex declined 386.86 points or 0.47% to 82,123.74. The Nifty 50 index lost 105.85 points or 0.43% to 25,041.70.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.35% and the S&P BSE Small-Cap index added 0.12%.
The market breadth was negative. On the BSE, 1,822 shares rose and 2,086 shares fell. A total of 193 shares were unchanged.
Economy:
India's forex reserves dropped by $3.049 billion to $699.736 billion in the week ended July 4, the RBI said on Friday.
For the week ended July 4, foreign currency assets, a major component of the reserves, dropped by $3.537 billion to $591.287 billion, the data released on Friday showed.
The gold reserves were up by $342 million to $84.846 billion during the week, the RBI said.
India's reserve position with the IMF jumped by $107 million to $4.735 billion in the reporting week, the apex bank data showed.
IPO Update:
The initial public offer (IPO) of Anthem Biosciences received bids for 66,79,010 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 11:34 IST on Monday (14 July 2025). The issue was subscribed 0.15 times.
The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Media Index rose 0.95% to 1,720.50. The index declined 3.26% in the past five trading session.
Zee Entertainment Enterprises (up 4.12%), Network 18 Media & Investments (up 1.82%), Tips Music (up 0.78%), Sun TV Network (up 0.7%) and Hathway Cable & Datacom (up 0.65%) advanced
Stocks in Spotlight:
RITES added 0.41%. The company announced that it has received an order for undertaking the construction and renovation of Government First Grade College at various locations in Karnataka under the PM USHA Scheme.
Titagarh Rail Systems rose 0.54%. The company said that it has entered into a 99-year lease agreement with the Governor of West Bengal for 40.009 acres of contiguous land at Mouza Kotrung & Mouza Bhadrakali, Uttarpara, West Bengal, for an consideration of Rs 126.63 crore.
Global Market:
US Dow Jones futures dropped 187 points, hinting at a weak start for Wall Street today.
Asian equities traded higher on Monday as markets weighed the impact of fresh trade tariff announcements by U.S. President Donald Trump. Investor attention also turned toward a string of key economic data releases from China expected this week.
In Japan, core machinery orders slipped 0.6% in May on a month-on-month, seasonally adjusted basis, according to the Cabinet Office. However, on a year-on-year basis, orders rose 4.4%, outperforming the 3.4% growth forecast by analysts, as per LSEG data.
Singapores economy delivered a better-than-expected performance in the second quarter, growing 4.3% year-on-year compared to 3.9% in the previous quarter. On a quarterly basis, GDP expanded 1.4%, marking a strong rebound from the 0.5% contraction seen earlier.
Tensions flared over the weekend as President Trump unveiled new 30% tariffs on imports from Mexico and the European Union, effective August 1, 2025. This follows an aggressive series of levies in the past week targeting Japan, South Korea, Canada, Brazil, and a 50% duty on all copper imports.
Leaders from the EU and Mexico signaled their intention to continue negotiations with the U.S. administration in hopes of securing lower tariff rates before the new duties kick in.
Wall Street ended lower on Friday as trade anxieties mounted. The Dow Jones Industrial Average dropped 0.63%, the S&P 500 shed 0.33%, and the NASDAQ Composite eased 0.22%, following Trumps threat of a 35% tariff on Canadian goods.
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