Closing Bell: Sensex, Nifty flat in rangebound trade; media drags, PSU banks gain

Market Close | Sensex, Nifty end flat in rangebound session

Indian equity indices ended on a flat note in the rangebound session on July 1. At close, the Sensex was up 90.83 points or 0.11 percent at 83,697.29, and the Nifty was up 24.75 points or 0.10 percent at 25,541.80.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Vinod Nair, Head of Research, Geojit Investments

Domestic indices traded within a narrow range, following last week's strong rally driven by easing geopolitical tensions and optimism over a potential U.S. trade deal. Investors are closely monitoring developments, seeking clarity on U.S. tariffs as the 90-day pause approaches its end. Additionally, confidence in domestic earnings growth remains crucial for sustaining market sentiment, with Q1FY26 results, set to begin next week, expected to provide further insight.

Meanwhile, multiple tailwinds, including a favourable monsoon, declining inflation, including benign crude prices, and government efforts to boost demand, are anticipated to lend continued support to investor sentiment.

More than 150 stocks on the BSE touched their 52-week highs, including JK Lakshmi Cement, Endurance Technoogies, City Union Bank, Apollo Hospitals, Federal Bank, Bharat Electronics, Laurus Labs....Read More

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing minor weakness from near the hurdle of previous opening downside gap of 3rd Oct 24 around 25650 levels on Monday, Nifty was not able to show follow-through weakness on Tuesday and closed the day higher by 24 points.

Bullish chart pattern like higher tops and bottoms is in store on the daily chart and further consolidation or weakness from here could form a short term base for the market ahead.

After the sharp upside breakout of broader high low range of 24500-25200 levels as per weekly chart in last week, the market consolidating from the highs and sliding down to the support of previous broken area around 25300 levels could be a positive indication.

The near term trend of Nifty remains positive. Further consolidation/weakness from here could find strong support around 25400-25300 levels, where one may expect sharp bounce from the lows. However, a decisive move above the high of 25700 could open the next upside targets of around 26000-26200 levels in the near term.

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Today, the benchmark indices witnessed lackluster activity. The Nifty ends 25 points higher, while the Sensex was up by 91 points. Among sectors, PSU banks and defense stocks witnessed intraday buying interest, whereas the media index lost the most, shed 1.35 percent. Technically, after a muted open, the entire day market hovered between 24,500/83,600 and 24,600/83,900 price ranges. A small candlestick formation on daily charts and non-directional intraday activity on intraday charts indicate indecisiveness between the bulls and the bears.

We believe that the current market texture is non-directional, perhaps with traders waiting for either side to make a breakout. For the bulls, the immediate breakout zones are 25,600/83,900. A successful breakout above these levels could push the market toward 25,700–25,750 / 84,200–84,400. On the flip side, a dismissal of 25,470/83,500 could accelerate selling pressure. Below these levels, the market could retest 25,375–25,300 / 83,200–83,000.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded lackluster and ended almost unchanged, taking a breather after Monday’s decline. Following an initial uptick, the Nifty moved in a narrow range and eventually settled at 25,541.80. On the sectoral front, a mixed trend kept participants engaged—metals, banking (particularly the PSU pack), and pharma witnessed gains, while FMCG and IT ended lower. The broader indices, after their recent outperformance, also traded flat in a subdued session.

Buoyancy in global markets—especially the U.S.—along with stable domestic cues suggests that the prevailing trend is likely to continue. We, therefore, reiterate our “buy on dips” view, with a strong emphasis on stock selection. However, participants should adopt a cautious stance on the broader market given the overbought conditions in select pockets.

Vaibhav Vidwani, Research Analyst at Bonanza

Today, the Indian stock market closed in a sideways, range bound manner with the Sensex marginally up by 90 points (0.11%) at 83,697 and the Nifty50 barely rising 24.75 points (0.10%) to 25,541. The market witnessed choppy trading as investors remained cautious despite entering a seasonally strong month. The broader markets showed some weakness with the Nifty MidCap and SmallCap indices closed in red.

The sideways closing was driven by mixed sectoral performances and uncertainty over near-term triggers. While PSU banks and select blue-chips, key names such as Axis Bank, TCS, Zomato, Tech Mahindra, Tata Motors, and NTPC dragged the indices lower. The broader market underperformance signals investor caution amid global uncertainties and mixed domestic cues. Looking ahead, market expectations hinge on upcoming corporate earnings, global trade developments, and domestic macroeconomic data.

Currency Check | Rupee closes 22 paise higher

Indian rupee ended 22 paise higher at 85.53 per dollar on Tuesday versus Monday's close of 85.75.

Market Close | Sensex, Nifty flat in rangebound trade; media drags, PSU banks gain

Indian equity indices ended on a flat note in the rangebound session on July 1.

At close, the Sensex was up 90.83 points or 0.11 percent at 83,697.29, and the Nifty was up 24.75 points or 0.10 percent at 25,541.80. About 1971 shares advanced, 1889 shares declined, and 150 shares unchanged.

On the sectoral front, FMCG, media, power shed between 0.4-1.3 percent, while PSU Bank index up 0.7 percent and Consumer Durables index rose 0.4 percent.

BSE Midcap and smallcap indices ended with marginal losses.

Apollo Hospitals, Bharat Electronics, Reliance Industries, SBI Life Insurance, Asian Paints were among major gainers on the Nifty, while losers included Axis Bank, Nestle, Shriram Finance, Eternal, Trent.

Stock Market LIVE Updates | Zenith Exports' CEO resigns

Rajkumar Loyalka resigned as Chief Executive Officer w.e.f. July 1

Sensex Today | Lupin carves out LupinLife Consumer Healthcare

Lupin today announced the strategic carve-out of its consumer healthcare business, LupinLife Consumer Healthcare Ltd. (LCH), into a wholly owned subsidiary, effective July 1, 2025.

Lupin was quoting at Rs 1,965.70, up Rs 27.90, or 1.44 percent.

It has touched an intraday high of Rs 1,965.85 and an intraday low of Rs 1,906.55.

In the previous trading session, the share closed up 0.05 percent or Rs 0.90 at Rs 1,937.80.

The share touched a 52-week high of Rs 2,403.45 and a 52-week low of Rs 1,614.90 on 02 January, 2025 and 02 July, 2024, respectively.

Currently, the stock is trading 18.21 percent below its 52-week high and 21.72 percent above its 52-week low.

Market capitalisation stands at Rs 89,776.69 crore.

Brokerage Call | Jefferies keeps ‘buy’ rating on Polycab India, target Rs 7,150

#1 Management expects incremental C&W industry demand to stay ahead of supply over next 5-years

#2 Key end-user segments driving cables demand are power, mobility, private capex & exploration

#3 Polycab targets to grow exports from 6 percent of sales in FY25 to 10 percent by FY30

#4 Estimate FY25-28 EPS at +26 percent

Sensex Today | JM Financial acquires stake in JM Financial Credit Solutions

JM Financial has acquired 2.98% stake in JM Financial Credit Solutions for Rs 88.97 crore from Moraine Master Fund LP.

JM Financial was quoting at Rs 158.80, down Rs 0.55, or 0.35 percent. It has touched an intraday high of Rs 162.15 and an intraday low of Rs 158.15.

It was trading with volumes of 333,898 shares.

In the previous trading session, the share closed down 0.00 percent or Rs 0.00 at Rs 159.35.

The share touched a 52-week high of Rs 168.85 and a 52-week low of Rs 78.00 on 21 October, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 5.95 percent below its 52-week high and 103.59 percent above its 52-week low.

Market capitalisation stands at Rs 15,183.86 crore.

Brokerage Call | Jefferies maintains ‘buy’ rating on Ambuja Cements, target Rs 700

#1 Company gearing up for strong recovery after challenging FY25

#2 Company is prioritising cost efficiency, capital expansion and use of tech in the business

#3 Management sounded confident of Q3 turnaround sustaining

#4 Came enthused post meeting & bring back company among top picks in cement space

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee gained by nearly 20 paise today on weak US Dollar and a positive tone in the domestic markets. Dollar is trading at lowest levels since February 2022 and rising odds of a rate cut. India’s manufacturing PMI remained flat at 58.4 in June, in line with estimates.

We expect Rupee to gain on declining US Dollar and rise in risk appetite in global markets. Gold is trading at lowest levels since Feb 2022 and 10-year US bond yields briefly slipped below 4.2%. However, recovery in crude oil prices may cap sharp gains. Traders may take cues from ISM manufacturing PMI, and JOLTS job data from the US and Fed Chair Jerome Powell’s speech. USDINR spot price is expected to trade in a range of Rs 85.20 to Rs 85.85.

Brokerage Call | CLSA keeps ‘high conviction outperform’ rating on DLF, target raises to Rs 1,025

#1 DLF has demonstrated high governance by remaining prudent on property prices hikes

#2 Calibrated supply to market, no equity dilution, & consistently beating its guidance

#3 With strong presales in recent launch, believe it will surpass its FY26 presales guidance

#4 Raise FY26-28 pre-sales by 20-30 percent

#5 Believe DLF is better placed than its peers

Brokerage Call | Morgan Stanley keeps ‘overweight’ rating on Apollo Hospitals, target Rs 8,058

#1 Company trades at discounts to its key peers because of 24/7

#2 Company announced its intent to list Newco in next 18-21 months

#3 For every 100 shares of AHEL, AHEL shareholders will receive 195.2 shares of Newco

#4 NewCo will be India's largest omni-channel pharmacy distribution & digital health company

#5 NewCo has aggressive revenue & EBITDA targets

#6 If NewCo meets its targets, that in turn would generate shareholder value

Brokerage Call | Jefferies keeps ‘buy’ rating on Torrent Pharma, target Rs 3,740

#1 Company expects CCI approval for its JB Pharma acquisition by Dec-25

#2 CCI nod will be followed by a tender offer & a 12-month merger process

#3 Control is anticipated by Jan-Feb 26, enabling synergies from year one

#4 Torrent management expects the deal to be cash-accretive with EPS accretion by FY28 or FY29

#5 Torrent sees a long growth runway in JB portfolio

#6 Company expects both cost & revenue synergies from the acquisition

Markets@3 | Sensex, Nifty trade flat

The Sensex was up 62.59 points or 0.07 percent at 83,669.05, and the Nifty was up 16.30 points or 0.06 percent at 25,533.35. About 1766 shares advanced, 1786 shares declined, and 124 shares unchanged.

Sensex Today | Paras Defence bags LoI worth Rs 22.21 crore

Cerbair, France has issued a Letter of Intent with a requirement to purchase 30 units of CHIMERA 200 from Paras Anti-Drone, valued at approximately 2.2 million euros (Rs 22.21 crore).

Sensex Today | Ather Energy introduces the Rizta S with a 3.7kWh battery pack

Ather Energy has introduced the new Rizta S with a 3.7kWh battery pack, expanding its Rizta family scooter lineup. The latest addition delivers an IDC range of 159 km.

Stock Markets LIVE Updates | Karur Vysya Bank Q1 deposits, advances up 15%

#1 Total deposits up 15.49% YoY & up 4.48% QoQ at Rs 1.06 lakh crore

#2 Total business up 15.27% YoY & up 5.07% QoQ at Rs 1.96 lakh crore

#3 Advances up 15.00% YoY & up 5.77% QoQ at Rs 89,370 crore

Stock Markets LIVE Updates | BSE Capital Goods index up 0.3%; Bharat Dynamics, Siemens, Bharat Electronics, among top contributors

Stock Markets LIVE Updates | CE Info bags order worth Rs 233 crore for Map Data Licensing

Sensex Today | Federal Bank, MCX India, Deepak Fertilisers among others hit 52-week high

Brokerage Call | Citi keeps ‘buy’ rating on Apollo Hospitals, target Rs 8,260

#1 Combined entity will be separately listed

#2 Combined entity listing is expected within 18-21 months, subject to regulatory approvals

#3 Development is positive for Apollo shares

#4 Apollo’s Hospital business is trading at 25-30 percent discount to some of peers

#5 Trading at disc mainly because of losses in 24/7 & complicated business structure

#6 With a separate listing and a lean business structure, expect discount to narrow down

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Sensex Today | Ashok Lyeland June sales up 3% year-on-year to 15,333 units from 14,940 vehicles

We expect overall industry growth to remain subdued, says Tata Motors management

1.) The passenger vehicle segment faced volume pressures in Q1FY26, especially during May and June.

2.) The company anticipates a gradual recovery in commercial vehicle volumes over the coming quarters.

Sensex Today | Tata Motors' sales declined 12% year-on-year to 65,019 units from 74,147 units.

Markets@2 | Sensex, Nifty trade marginally higher

Stock Markets LIVE Updates | 1 million shares of SBI traded in a block: Bloomberg

tate Bank of India was quoting at Rs 820.35. It has touched an intraday high of Rs 824.95 and an intraday low of Rs 813.25. It was trading with volumes of 346,746 shares.

In the previous trading session, the share closed up 1.86 percent or Rs 14.95 at Rs 820.35.

The share touched a 52-week high of Rs 898.80 and a 52-week low of Rs 679.65 on 19 July, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 8.73 percent below its 52-week high and 20.7 percent above its 52-week low.

Market capitalisation stands at Rs 732,131.20 crore.

Sensex Today | TVS Motor total sales up 20.5% at 4.02 lakh units Vs 3.34 lakh units, YoY

Gold rate today: Yellow metal's August contracts on MCX opened at Rs 96,471 per 10 grams on July 1....Read More

Brokerage Call | CLSA maintains ‘hold’ rating on Torrent Pharma, target Rs 3,700

#1 Believe the acquisition is synergistic

#2 Acquisition will enhance company’s domestic cardio & gastro portfolio

#3 Acquisition will provide entry in the international CDMO business

#4 Combined entity is likely to be EPS accretive in FY28/FY29

Sensex Today | Trident Techlabs bags order worth Rs 1.39 crore

Trident Techlabs has been  awarded its first work contract for Cyber Security Solutions. This contract has been awarded by the Ministry of Defence, Government of India for Cyber security solution.

The total value of the contract is Rs 1,39,67,000.

Global Markets | European markets trade flat; Dow Futures flat

Currency Check | Rupee trades higher

Indian rupee is trading near day's high at 85.54 per dollar versus Monday's close of 85.75 .a

Stock Market LIVE Updates | S Mahesh Babu resigns as CEO of Switch Automotive Mobility

S Mahesh Babu has resigned as CEO of Switch Automotive Mobility, effective August 31, 2025.

Ganesh Mani will take additional charge as CEO of Switch Automotive Mobility effective September 1. He is currently the Chief Operating Officer of Ashok Leyland.

Stock Market LIVE Updates | Aquilo House Pte picks 2.09 crore shares of AAVAS Financiers

Aquilo House Pte has acquired 2.09 crore shares of AAVAS Financiers from the former promoters. With this, Aquilo House becomes the new promoter of AAVAS Financiers.

Commodity Check | Gold prices inch higher; oil prices trade flat

Stock Markets LIVE Updates | Gabriel India, Bafna Pharma, Arvee Lab, among others hit upper circuit

Stock Market LIVE Updates | Apollo Hospitals Enterprises announces spin-off of its digital health, pharmacy distribution, telehealth biz

Apollo Hospitals Enterprise has announced the spin-off of its digital health, pharmacy distribution, and telehealth businesses into a new entity, NewCo, aiming to unlock value through a direct listing.

The composite scheme of arrangement includes the amalgamation of Apollo HealthCo (AHL), a subsidiary of AHEL, with NewCo, and the merger of Keimed, India’s leading wholesale pharma distributor, with NewCo.

The combined entity is expected to report FY25 revenues of approximately Rs 16,300 crore, with a target to reach Rs 25,000 crore by FY27.

APL Apollo Tubes was quoting at Rs 1,740.00, up Rs 2.85, or 0.16 percent. It has touched an intraday high of Rs 1,753.10 and an intraday low of Rs 1,718.40. It was trading with volumes of 10,269 shares

In the previous trading session, the share closed down 0.99 percent or Rs 17.40 at Rs 1,737.15.

The share touched a 52-week high of Rs 1,935.00 and a 52-week low of Rs 1,253.00 on 09 June, 2025 and 08 October, 2024, respectively.

Currently, the stock is trading 10.08 percent below its 52-week high and 38.87 percent above its 52-week low.

Market capitalisation stands at Rs 48,289.27 crore.

Stock Markets LIVE Updates | 1.03 million shares of Bank of Maharashtra traded in a block: Bloomberg

Bank of Maharashtra was quoting at Rs 57.83, up Rs 0.73, or 1.28 percent. It has touched an intraday high of Rs 58.25 and an intraday low of Rs 56.47.

It was trading with volumes of 1,068,057 shares.

In the previous trading session, the share closed up 5.02 percent or Rs 2.73 at Rs 57.10.

The share touched a 52-week high of Rs 70.75 and a 52-week low of Rs 38.11 on 29 July, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 18.26 percent below its 52-week high and 51.74 percent above its 52-week low.

Market capitalisation stands at Rs 44,480.26 crore.

Stock Markets LIVE Updates | RailTel Corporation gets work order of Rs 15.84 crore

RailTel Corporation of India has received the Letter of Acceptance from M/s Cuttack Development Authority for work order amounting to Rs 15,84,92,196 (Including Tax).

ailtel Corporation of India was quoting at Rs 426.95, down Rs 1.35, or 0.32 percent. It has touched an intraday high of Rs 433.80 and an intraday low of Rs 424.25. It was trading with volumes of 56,341 shares.

In the previous trading session, the share closed up 0.06 percent or Rs 0.25 at Rs 428.30.

The share touched a 52-week high of Rs 618.00 and a 52-week low of Rs 265.30 on 12 July, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 30.91 percent below its 52-week high and 60.93 percent above its 52-week low.

Market capitalisation stands at Rs 13,702.47 crore.

Sensex Today | BSE FMCG index down 0.5%; extend fall on second day

Stock Market LIVE Updates | Godrej Industries makes additional investment in its subsidiary

The company has made an additional investment of Rs 285 crore in its subsidiary Godrej Capital. As a result, Godrej Industries’ shareholding in Godrej Capital has increased from 89.48% to 90.89%.

Sensex Today | Eicher Motors' total VECV sales down 0.8% at 7,363 units versus 7,424 units, YoY

Sensex Today | 1 million shares of Ola Electric Mobility traded in another block: Bloomberg

Ola Electric Mobility was quoting at Rs 42.09, down Rs 1.08, or 2.50 percent. It has touched a 52-week low of Rs 41.85. It has touched an intraday high of Rs 44.09 and an intraday low of Rs 41.85.

Market capitalisation stands at Rs 18,565.18 crore.