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Market Commentary - Quick Review

Barometers end with major gains; Nifty closes above 25,200 level

23-Jul-2025, 03:53
The key equity benchmarks ended with significant gains today, supported by positive global cues following the trade agreement between the US and Japan. Investor attention remains on ongoing IPO activity, the India-US trade deal, and developments on the tariff front. The Nifty settled above the 25,200 level.

Auto, private bank and pharma shares advanced while realty, media and FMCG shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 539.83 points or 0.66% to 82,726.64. The Nifty 50 index added 159 points or 0.63% to 25,219.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.24% and the S&P BSE Small-Cap index added 0.05%.

The market breadth was negative. On the BSE, 2,002 shares rose and 2,029 shares fell. A total of 167 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.20% to 10.52.

IPO update:

The initial public offer (IPO) of Indiqube Spaces bids for 1,23,00,687 shares as against 1,71,48,335 shares on offer, according to stock exchange data at 15:33 IST on Wednesday (23 July 2025). The issue was subscribed 0.72 times.

The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.

The initial public offer (IPO) of GNG Electronics bids for 10,64,74,851 shares as against 1,41,88,644 shares on offer, according to stock exchange data at 15:33 IST on Wednesday (23 July 2025). The issue was subscribed 7.50 times.

Buzzing Index:

The Nifty Auto index jumped 0.85% to 24,079.40. The index declined 0.74% in the past trading session.

Tata Motors (up 2.48%), Samvardhana Motherson International (up 1.64%), Bharat Forge (up 1.58%), Bajaj Auto (up 1.23%), MRF (up 1.18%), Maruti Suzuki India (up 1.08%), Bosch (up 0.6%), Hero MotoCorp (up 0.49%), Ashok Leyland (up 0.48%) and Mahindra & Mahindra (up 0.36%) advanced.

Stocks in Spotlight:

Welspun Specialty Solutions (WSSL) declined 3.12% after the company reported a standalone net loss of Rs 0.75 crore in Q1 FY26, compared to a net profit of Rs 1.95 crore posted in Q1 FY25. However, revenue from operations jumped 24.19% year-on-year (YoY) to Rs 201.32 crore in the quarter ended 30 June 2025.

Indian Railway Finance Corporation (IRFC) rallied 3.44% after the company's standalone net profit rose by 10.70% to Rs 1,745.69 crore in Q1 FY26 as against Rs 1,576.83 crore posted in Q1 FY25. Total revenue from operations increased by 2.21% year-on-year (YoY) to Rs 6,915.38 crore in the quarter ended 30 June 2025.

Dixon Technologies (India) rose 2.62% after the company reported a 100.44% surge in consolidated net profit to Rs 280.02 crore in Q1 FY26 from Rs 139.70 crore posted in Q1 FY25. Revenue from operations zoomed 95.08% year on year (YoY) to Rs 12,835.66 crore in the quarter ended 30 June 2025.

United Breweries shed 0.98%. The company's consolidated net profit jumped 5.95% to Rs 183.87 crore in Q1 FY26, compared to Rs 173.55 crore posted in the corresponding quarter last year. Revenue from operations (excluding excise duty) rose 15.72% YoY to Rs 2,864.32 crore in the June 2025 quarter.

Aditya Birla Real Estate slipped 5.43% after the firm reported a consolidated net loss of Rs 25.47 crore in Q1 FY26 compared with a net profit of Rs 7.78 crore in Q1 FY25. Total income decreased 56.9% year on year (YoY) to Rs 157.41 crore in Q1 FY26.

Ideaforge Technology declined 7.98% after the company reported consolidated net loss of Rs 23.5 crore in Q1 FY26 compared with net profit of Rs 1.17 crore in Q1 FY25. Revenue from operations declined 85.17% YoY to Rs 12.78 crore during the quarter.

Dalmia Bharat dropped 2.30%. The company reported a 178% surge in consolidated net profit to Rs 393 crore in Q1 FY26, compared to Rs 141 crore posted in Q1 FY25. Revenue from operations increased marginally to Rs 3,636 crore in Q1 FY26, as against Rs 3,621 crore reported in the same period of the previous year.

Global Markets:

European shares opened higher on Wednesday after U.S. President Donald Trump revived hopes for a trade deal with the EU following an agreement with Japan.

Most Asian markets ended higher , with Nikkei leading the gains, after President Donald Trump announced the signing of a massive' trade deal with Japan. The deal includes reciprocal tariffs of 15% on the country's exports to the U.S., with auto duties reportedly being lowered to that level as well.

Japanese Prime Minister Shigeru Ishiba reportedly said that he needed to examine the deal before commenting.

Additionally, the news that Washington had reportedly achieved agreements with the Philippines and Indonesia encouraged investors, giving them hope that other nations may also reach arrangements to avoid the worst of the US president's levies.

Equity markets have been rising in recent weeks on hope that countries will eventually sign trade deals with the US. This is despite the fact that there haven't been many agreements reached with Trump, despite the deadline of 01 August 2025.

On Wall Street, the Dow Jones Industrial Average and other indexes eased off the day's highs, while the S&P 500 set another new high in the final minutes of trading Tuesday, as investors grinded through countless quarterly financial results.

According to media reports, the S&P 500 companies are expected to report a 7% increase in earnings on average for the second quarter, with technology heavyweights driving much of that gain.

Meanwhile, U.S. trade policy remains a major point of uncertainty for investors and companies as Trump's self-imposed 01 August deadline for many countries to reach agreements with the White House approaches.

On Tuesday, GM tumbled after the automaker reported a $1 billion hit from tariffs to its quarterly results, adding more fuel to investor concerns about U.S. President Donald Trump's global trade policy.

The recent rally in Wall Street's most valuable companies has been fueled by the optimism about heavy spending on artificial intelligence.

Following the mixed economic data released last week, reports suggest that the market has trimmed its expectations about interest-rate cuts from the U.S. Federal Reserve at next week's policy meeting. The market now expects about a 60% chance of a reduction in rates at the September meeting.