Auto, consumer durables and media shares advanced while PSU Bank, realty and metal shares declined.

At 13:28 IST, the barometer index, the S&P BSE Sensex advanced 173.95 points or 0.21% to 83,583.64. The Nifty 50 index added 50.85 points or 0.20% to 25,503.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.12% and the S&P BSE Small-Cap index jumped 0.49%.

The market breadth was positive. On the BSE, 2,046 shares rose and 1,851 shares fell. A total of 183 shares were unchanged.

Economy:

The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 60.4 in June 2025 against 58.8 in May 2025. Monitored companies linked the upturn to positive demand trends and ongoing improvements in sales. Indian service providers ended the first fiscal quarter on strong footing.

Output and new order intakes rose at the fastest rates since August 2024, aided by another robust expansion in international sales and job creation. New orders expanded at the quickest rate since August 2024. Services companies benefited most from the continued strength of the domestic market, alongside a marked increase in new export business.

The HSBC India Composite PMI Output Index rose from 59.3 in May to 61.0, indicating the fastest rate of expansion in 14 months. Growth quickened at both manufacturers and service providers.

India-US trade deal update:

As per media reports, India and the United States will likely finalise a 'mini trade deal' within the next 48 hours, with negotiations underway in Washington, DC.

India and the US are actively engaged in trade negotiations as the July 9 deadline looms. If a deal is not reached by then, Indian exports to the US could face a total tariff of 36% (10% baseline tariffs plus 26% reciprocal tariffs). Trump has indicated that the deadline may not be extended.

Gainers & Losers:

Hero Motorcorp (up 2.10%), Apollo Hopitals Enterprise (up 1.89%), Maruti Suzuki India (up 1.48%), ONGC (up 1.19%) and Dr Reddy's Laboratories (up 1.14%) were the major Nifty50 gainers.

SBI Life Insurance company (down 2.13%), Kotak Mahindra Bank (down 1.80%), Bajaj Finserv (down 1.12%), JSW Steel (down 0.79%) and Bajaj Finance (down 0.75%) were the major Nifty50 losers

Stocks in Spotlight:

Biocon advanced 1.11% after the company said that Biocon Biologics has received the European Commission (EC) marketing authorisation in the European Union (EU) for Vevzuo and Evfraxy biosimilars of Denosumab.

Rail Vikas Nigam shed 0.18%. The company said that its board has approved the appointment of Chandan Kumar Verma as chief financial officer (CFO) with effect from 2 July 2025.

Avenue Supermarts (DMart) fell 0.86%. The company announced that the total number of DMart stores as of 30 June 2025 stood at 424. It has reported standalone revenue of Rs 15,932.12 crore in the quarter ended 30 June 2025, recording a growth of 16.19% from Rs 13,711.87 crore posted in the same period a year ago.

Punjab National Bank (PNB) declined 2.55%. The bank's domestic deposits increased 12.2% to Rs 15,36,871 crore as of June 2025 compared with Rs 13,69,916 crore posted in June 2024.

Baazar Style Retail tumbled 4.07%. The company reported 36.99% growth in revenue to Rs 377.70 crore in Q1 FY26, compared with Rs 275.70 posted in Q1 FY25.

Tata Power fell 1.53% after the company disclosed that an international arbitration tribunal has partially ruled in favour of Kleros Capital Partners in an ongoing dispute.

Mahindra & Mahindra Financial Services rose 3.02% after the company reported a 1% year-on-year increase in overall disbursements at Rs 12,800 crore for the first quarter.

Global Markets:

European market advanced as investors awaited the release of U.S. jobs data.

Asian market traded mixed on Thursday, with investors awaiting clarity on the U.S.-Vietnam trade deal announced by President Donald Trump. According to a post on Truth Social, the U.S. will slap a 20% tariff on Vietnamese imports, while Vietnam will impose ZERO Tariff on U.S. goods. The announcement comes as Trump's 90-day tariff reprieve nears its deadline.

Back in the U.S., Wall Street closed on a mixed note. The Dow Jones dipped 0.02%, while the S&P 500 rose 0.47%, and the Nasdaq jumped 0.94%.

Tesla made headlines with a sharp 5% rebound, recovering from the previous day's drop triggered by another round of sparring between Trump and Elon Musk. The EV giant reported Q2 deliveries of 384,122 vehicles, down from 443,956 last year but beating analyst expectations.

Meanwhile, U.S. private payrolls disappointed again. June saw a decline of 33,000 jobs, against expectations of a 99,000 gain. May's figures were also revised down to 29,000, marking the weakest two-month stretch since early 2023. The soft labor data reflects employer caution and worker hesitation amid tariff-related economic jitters.

All eyes are now on the upcoming nonfarm payrolls report, due Thursday, which could provide clues on the Fed's next move on interest rates.

Markets will wrap up early on Thursday ahead of the July 4 Independence Day holiday.

Powered by Capital Market - Live News