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Informist, Thursday, Jul. 3, 2025

By Gopika Balasubramanium 

MUMBAI - India's headline indices fell in the last hour of the trading session on Thursday, likely due to profit booking by traders on the day of expiry of the monthly derivatives contract of the Nifty 50. Shares of automobile companies gained while those of financial services companies ended lower. 

The Nifty 50 closed at 25405.30 points, down 48.10 points or 0.2%. Kotak Mahindra Bank, Bajaj Finance, Bharti Airtel, and State Bank of India were the biggest drags on the Nifty 50. Even on Wednesday, the 50-stock index fell below its key support level of 25500 points, failing to close above it. The BSE Sensex closed at 83239.47 points, down 170.22 points or 0.2% Thursday. 

Broader market indices, on the other hand, closed higher. Small-cap indices outperformed mid-cap peers throughout the session. The Nifty Smallcap 250 closed 0.4% higher.

Among the sectoral indices, the Nifty Media index, which closed 1.5% higher, emerged as the top gainer. Zee Entertainment Enterprises closed over 2% higher and was the top gainer in the sectoral index. Nifty Consumer Durables that ended 0.6% higher was the second best peforming index, lifted by Blue Star, V-Guard Industries, and Voltas which gained 3-5%. 

Automobile sector stocks such as Hero MotoCorp, Maruti Suzuki India, Bajaj Auto, and Mahindra & Mahindra witnessed increased buying interest till the last hour of trading, even as these came off intraday highs. Some analysts said automobile sector may benefit from the much-anticipated US-India trade deal, but did not give details.    

Nifty PSU Bank closed nearly 1% lower and was the worst-hit sectoral index. The index declined for the second straight session, after having closed higher for the six sessions before. State-owned banks are losing market share on deposits, and Macquarie expects earnings per share to decline in the current financial year and sees a sharp compression in their return on equity in the near term, media reports said. The sectoral index was dragged down by Punjab National Bank which closed 3.2% lower. The stock fell after global brokerage Citi said it expects the bank's Apr-Jun net interest margin and net interest income to fall on quarter. 

FSN E-Commerce closed over 4% lower and was the worst-hit among the Nifty 200 constituents. The stock fell after a large block deal involving over 60 million shares was executed on the BSE. 

Kotak Mahindra Bank closed 2% lower at INR 2,126.60. The stock fell after global brokerage Macquarie downgraded it to "neutral", while raising its target price to INR 2,300.   

Avenue Supermarts came off lows to close 1% lower. The stock had fallen 4% to an intraday low of INR 4,217.90 Thursday after its sales for the June quarter came in below the Street's expectations. 

Apollo Hospitals Enterprise closed nearly 2% higher and was the top gainer of the Nifty 50 index. HDFC Securities has increased its target price for Apollo Hospitals Enterprise by over 4% to INR 8,650 while maintaining a 'buy' rating. Many brokerages, including HDFC Securities, are bullish on the demerger of its omni-channel pharmacy business and the digital healthcare platform business and their separate listing.

Motilal Oswal Financial Services closed nearly 9% higher, snapping a two-day fall. Intraday the stock had risen to a five-month high after the assets under management of its arm Motilal Oswal Asset Management Co. surpassed INR 1.5 trillion. 

Mahindra & Mahindra Financial Services gave up most of its intraday gains and closed nearly 2% higher. Shares of the company surged after it said the overall disbursements are expected to have risen 1% on year to INR 128.00 billion in the June quarter. However, despite the robust growth, global brokerage Morgan Stanley flagged concerns regarding the company's asset quality.

IndoGulf CropSciences closed 0.6% lower at INR 110.35 on its first day of trade. The stock got listed at INR 111 per share on the NSE which is same as its issue price. More than 5 million shares of the company changed hands on the NSE. 

* Of the Nifty 50 stocks, 20 rose and 30 fell

* Of the Sensex stocks, 18 rose and 12 fell

* On the NSE, 1,450 stocks rose, 1,472 fell, and 103 were unchanged

* On the BSE, 2,018 stocks rose, 1,990 fell, and 160 were unchanged

* Nifty PSU Bank: down 0.9%; Nifty Metal: down 0.8%; Nifty Media: up 1.5%

BSE                                               NSE

Sensex: 83239.47, down 170.22 points or 0.2%      Nifty 50: 25405.30, down 48.10 points or 0.2%

End

Edited by Vandana Hingorani

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