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Informist, Tuesday, Jul. 22, 2025

By Gopika Balasubramanium

MUMBAI – Benchmark equity indices ended a tad lower on Tuesday after moving in a tight range throughout the session. Analysts said there were no specific triggers for indices to act upon. Selling pressure was primarily seen in mid- and small-cap indices and analysts attribute it to profit-booking ahead of the June quarter earnings.

The Nifty 50 closed at 25060.90, down 29.80 points or 0.1%. The 50-stock index moved in a tight range of 25180-25050 points through out the day. The index did not fall below 25000 points even when there was some selling pressure towards those levels. Gains in ICICI Bank and HDFC Bank limited the indices from falling further. Three Nifty 50 constituents--Mahindra & Mahindra, ICICI Bank, and Eternal hit their historical highs. The BSE Sensex closed largely flat at 82186.81 points, down 13.53 points.

Broader market indices declined sharply and underperformed the benchmark indices. Selling was more dominant in mid-cap indices with the Nifty Midcap 50 closing nearly 0.8% lower. The Nifty Smallcap 100 and the Nifty Smallcap 250 indices closed down 0.3% each. Some analysts said traders offloaded shares of the mid- and small-cap companies as they booked profit ahead of the June quarter earnings. Most of the companies in this space are likely to report their results in the coming days. Some analysts also said the valuations of mid- and small-cap companies are stretched, but there are select companies which are at their fair valuations. 

M&M, ICICI Bank, and Eternal were the three Nifty 50 constituents that hit intraday highs on Tuesday. ICICI Bank traded higher for the third consecutive session and touched all-time high of INR 1,482. However, the stock came off highs and closed 0.5% higher. M&M's shares also hit a record high intraday at INR 3,271.90 during mid-market hours. Shares of the automobile major closed 0.3% higher at INR 3,257.20.   

Meanwhile, Eternal was the top gainer of the Nifty 50. Intraday, the stock rose nearly 15% and touched INR 311.25, its historical high level. The company's market capitalisation rose over 10% or INR 271.18 billion to INR 2.893 trillion. Volumes traded also surged on Tuesday with nearly 270 million shares changing hands on the NSE. Brokerages were positive about the company's growth prospects and its profitability, despite the company's June quarter net profit plunging on year. Most brokerages were bullish on the company transforming its quick commerce to an inventory-led model from the current marketplace model. This change in business model is likely to improve margins in the next two or three quarters, brokerages said. Eternal came off intraday highs and closed at INR 299.80, up 10.3%.  

Most of the sectoral indices closed in the red due to broad-based selling. The Nifty Media was the worst hit and closed 2.3% lower. This was mainly due to a near 6% fall in Zee Entertainment. The stock fell sharply as the company's consolidated net profit for the June quarter missed estimates and also as its revenue from operations declined 14% on year. The Nifty PSU, the Nifty Realty, and the Nifty Pharma sectoral indices fell 1.0-1.6%.  

Among other stocks, Swiggy was among the top gainers in the Nifty 200 index which rose as brokerages were positive on growth in the quick commerce industry as a whole. The company derives a significant part of its revenue from its quick commerce operations. Nirmal Bang Institutional Equities had initiated coverage on the stock with a 'buy' rating on Swiggy with a target price of INR 500. On Tuesday, shares of the company closed at INR 417.15, up 6%. Afcons Infrastructure came off intraday highs and closed 2% higher. Shares of the company rose 4% to an intraday high of INR 435 after the company received an INR-68-billion project in Croatia

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

* Of the Sensex stocks, 11 rose and 19 fell

* On the NSE, 1,489 stocks rose, 1,081 fell, and 587 were unchanged

* On the BSE, 1,790 stocks rose, 2,231 fell, and 177 were unchanged

* Nifty Media: down 2.3%; Nifty PSU Bank: down 1.6%; Nifty Financial Services: tad up.

BSE                                               NSE

Sensex: 82186.81, down 13.53 points               Nifty 50: 25060.90, down 29.80 points or 0.1%

End

Edited by Akul Nishant Akhoury

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