Nifty trades below 25,050; European mrkt opens lower
The frontline indices traded with modest cuts in the afternoon trade as escalating geopolitical tensions between the US and Iran, coupled with a rise in crude oil prices and concerns over potential economic fallout, triggered broad-based risk aversion among investors. The Nifty traded below the 25,050 mark. IT, auto and FMCG shares declined, while media, metal and consumer durables stocks advanced.
At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 344.25 points or 0.42% to 82,063.92. The Nifty 50 index slipped 84.90 points or 0.34% to 25,026.60.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.28% and the S&P BSE Small-Cap index added 0.40%.
The market breadth was negative. On the BSE, 1,700 shares rose and 2,241 shares fell. A total of 198 shares were unchanged.
Economy:
The HSBC Flash India Composite Output Indexa seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectorsclimbed to a 14-month high of 61.0 in June. Rising from 59.3 in May, the latest reading was consistent with a sharp rate of expansion that was well above the long-run series average.
The HSBC Flash India Manufacturing PMI rose from 57.6 in May to 58.4 in June, signalling the best improvement in operating conditions since April 2024.
Gainers & Losers:
Trent (up 3.77%), Bharat Electronics (up 2.87%), Hindalco Industries (up 2.37%), Adani Enterprises (up 1.21%) and SBI Life Insurance Company (up 0.74%) were the major Nifty50 gainers.
Infosys (down 2.29%), Larsen & Toubro (down 1.98%), Mahindra & Mahindra (down 1.65%), Hero MotoCorp (down 1.64%) and HCL Technologies (down 1.43%) were the major Nifty50 losers.
Stocks in Spotlight:
Ideaforge Technology hit an upper limit of 10% after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence.
NBCC (India) rose 1.75% after the company secured an order worth Rs 296.53 crore from the Meerut Development Authority (MDA) for redevelopment projects in Meerut, Uttar Pradesh.
Bharat Electronics (BEL) advanced 2.81% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025.
Zen Technologies hit an upper limit of 5% after the companys board approved the acquisition of TISA Aerospace (TISA) through a mix of share purchases plus compulsorily convertible debentures (CCDs) from current shareholders of TISA.
Global Markets:
European markets opened lower and Asian markets traded mixed on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict. Brent Crude climbed to $78.52 a barrel, continuing its upward trend amid regional tensions.
On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from Mays 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0.
Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Feds next move on rates.
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