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Informist, Monday, Jul. 7, 2025

By Akash Mandal

MUMBAI – The benchmark indices ended flat Monday after a dull session in which the Nifty 50 moved in a tight range of just 80 points. A fall in crude oil prices and a subsequent rise in heavyweight Reliance Industries supported the market, but sentiment remained weak and the indices were unable to find a decisive direction.

Analysts said extension of the pause on reciprocal tariffs by the US is unlikely to affect the domestic market with a trade deal between India and the US appearing to be imminent. US President Donald Trump Sunday extended the deadline for the US reciprocal tariffs to come into effect to Aug. 1 from Jul. 9.

Crude oil prices fell after the Organization of the Petroleum Exporting Countries and its allies decided to increase their collective crude oil production by 548,000 barrels per day in August, higher than the increase of 411,000 barrels per day the market had expected. Following this, Brent Crude oil futures were down 1% in early trade but later reversed the fall. At 1531 IST, the September future of Brent crude was trading at $68.58 per barrel, up 0.4%. Most oil marketing companies ended higher, with Bharat Petroleum Corp., Indian Oil Corp., and Hindustan Petroleum Corp. gaining around 1% each.

On the other hand, oil exploration companies Oil and Natural Gas Corp. and Oil India ended 1-2% lower. Petronet LNG ended nearly 3% higher and was the top gainer in the Nifty Oil & Gas after Motilal Oswal Financial Services upgraded the stock to "buy" from "neutral" and raised its target price by 30% to INR 415.

The Nifty 50 ended the session at 25461.30 points, less than 1 point up. The BSE Sensex closed at 83442.50 points, less than 10 points higher. Bharat Electronics, Tech Mahindra, and UltraTech Cement ended 1-2% lower and were among the worst hit in the 50-stock index. On the other hand, fast-moving consumer goods stocks were the top gainers with Hindustan Unilever, Nestle India, and Tata Consumer Products closing 1-3% higher.

Other FMCG stocks also gained and the Nifty FMCG ended nearly 2% higher to be by far the biggest gainer among sectoral indices. This came after a host of FMCG majors reported their sales for the June quarter over the weekend, with many reporting solid numbers and some reporting an uptick in demand, a major pain point for these companies over the past few quarters.

Dabur India, which ended 4% higher, had said the industry saw sequential recovery in demand in the June quarter with urban markets seeing an improvement in volume growth in particular. Godrej Consumer Products ended over 6% higher and was among the top gainers in the Nifty 500 after it said its consolidated business is expected to report double-digit revenue growth for the quarter.

Most sectoral indices ended lower. Nifty Oil & Gas, Nifty Realty, and Nifty Infrastructure were the only ones apart from Nifty FMCG to end in positive territory. Nifty Media ended 1% lower and was the worst hit among the indices with Zee Entertainment Enterprises falling nearly 2%.

Most information technology stocks fell, weighed down by uncertainty on tariffs. Sentiment for the sector has been subdued in recent times amid a slowdown in earnings, threat of higher inflation, a slowdown in the US economy, and weak outlook for these companies. Tech Mahindra, Mphasis, and HCL Technologies ended 1-2% lower. Defence stocks also ended sharply lower. Paras Defence and Space Technologies, Garden Reach Shipbuilders & Engineers, and Bharat Dynamics all ended 2-5% lower.

Among other stocks, Jaiprakash Power Ventures surged 20% after media reports said the Adani group is leading the race to acquire the assets of beleagured real estate player Jaiprakash Associates. FSN E-Commerce Ventures gained 2% after the company said its consolidated revenue for the June quarter is expected to grow at the lower end of the mid-twenties.

On the other hand, Jubilant Foodworks ended nearly 4% lower after reports said the Street was left unimpressed by the company's Domino's operations in Turkey. Domino's sales in Turkey fell 2.2% on year on a like-to-like basis. Overall, however, the company reported a provisional revenue of INR 17.02 billion for the June quarter, up 18% on year. Info Edge (India) ended 4% lower after the company's billings in the June quarter grew at the slowest pace in four quarters.

* Of the Nifty 50 stocks, 22 rose and 28 fell

* Of the Sensex stocks, 13 rose and 17 fell

* On the NSE, 1,154 stocks rose, 1,795 fell, and 111 were unchanged

* On the BSE, 1,708 stocks rose, 2,362 fell, and 191 were unchanged

* Nifty FMCG: up 1.7%; Nifty Oil & Gas: up 0.4%; Nifty India Defence: down 1.1%

BSE                                               NSE

Sensex: 83442.50, up 9.61 points                  Nifty 50: 25461.30, up 0.30 point

End

Edited by Rajeev Pai

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