Taking Stock: Market fails to build on gains; Nifty closes at 25,400, Sensex down 170 pts

PSU banks were the top sectoral laggard in trade on July 3.

Indian indices failed to build on the morning gains and ended lower in a yet another volatile session on July 3, with Nifty around 25,400. At close, the Sensex was down 170.22 points or 0.20 percent at 83,239.47, and the Nifty was down 48.10 points or 0.19 percent at 25,405.30.

On the back of positive global cues, amid US and Vietnam trade agreement, the Indian market opened higher and saw extended buying in the first half with Nifty inching closer to 25,600. However, last hour profit booking erased all the intraday gains to end near day's low.

Apollo Hospitals, Hero MotoCorp, Dr Reddy's Labs, ONGC, Maruti Suzuki were among major gainers on the Nifty, while losers were SBI Life Insurance, Kotak Mahindra Bank, Bajaj Finance, JSW Steel, Bajaj Finserv.

On the sectoral front, metal, realty, PSU Bank, telecom indices down 0.5 percent each, while pharma, media, oil & gas, auto, consumer durable added 0.3-1 percent.

Broader indices ended mixed with BSE midcap ended lower for the third consecutive session, while smallcap index broke 2-day fall to end 0.5 percent higher.

Read More: Robust IPO participation fails to translate into strong listings

In stock specific action, Arkade Developers shares rose 4 percent as it acquired Filmistan, Nykaa shares fell 4% as 6 crore shares exchanged, Kotak Mahindra Bank shares dropped up to 2% on Macquarie downgrade, SpiceJet shares rose as airline received first two overhauled engines, ungrounds another Boeing 737 NG, DMart shares tumbled as Q1 business update failed to excite, One MobiKwik Systems shares jumped 2 percent as arm got SEBI’s registration to operate as stock broker.

More than 140 stocks on the BSE touched their 52-week highs, including DCM Shriram, Aster DM Healthcare, JM Financial, Max Healthcare, Apollo Hospitals, EID Parry, Asahi India, Laurus Labs, Divis Labs, JK Lakshmi Cement, UltraTech Cement, MRF, Abbott India, Deepak Fertilisers, SRF, Max Financial, among others. Click to View More

Index	Prices	Change	Change%
Sensex	85,609.51	1,022.50	+1.21%
Nifty 50	26,205.30	320.50	+1.24%
Nifty Bank	59,528.05	707.75	+1.20%

Nifty 50 26,205.30 320.50 (1.24%)

Wed, Nov 26, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
JSW Steel	1,154.40	42.40	+3.81%

Biggest Loser	Prices	Change	Change%
Bharti Airtel	2,126.80	-34.80	-1.61%

Best Sector	Prices	Change	Change%
Nifty Metal	10280.70	207.30	+2.06%

Worst Sector	Prices	Change	Change%
Nifty FMCG	55442.60	390.50	+0.71%

Global Markets

Overnight, the S&P 500 and Nasdaq closed at record highs, boosted by gains in technology stocks and a trade agreement between the U.S. and Vietnam that eased concerns over prolonged trade tensions.

Asian shares ended mostly higher on Thursday as investors braced for a key US jobs report that may justify imminent rate cuts by the Federal Reserve.

Outlook for July 4

Ajit Mishra – SVP, Research, Religare Broking

Markets traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase. After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30. Sector-wise, the trend remained mixed—auto and pharma posted gains, while metal and realty were among the top losers. The broader indices also mirrored this movement and closed on a flat note.

In the absence of any fresh trigger, the mixed trend among heavyweights is capping the Nifty's directional move. However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200 mark. On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle.

Meanwhile, individual stocks continue to offer ample opportunities, supported by rotational buying across sectors and noticeable resilience in the broader market. Participants should align their positions accordingly, with a strong focus on stock selection.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The market shifted into a weakness with high volatility on Thursday on the day of weekly Nifty expiry and closed the day lower by 48 points. After opening with a positive note, Nifty was not able to sustain the highs and slipped into weakness soon after the opening. An attempt of upside recovery has been thwarted and the market finally closed at the lows.

A reasonable negative candle was formed on the daily chart with long upper shadow. Technically, this market action indicates continuation of consolidation or minor dip in the market with sell on rise opportunity.

The bullish chart pattern like higher tops and bottoms is intact on the daily chart and present weakness could be in line with the new higher bottom formation at the lows. Nifty is nearing an important cluster support around 25350-25250 levels (10day EMA, ascending trend line on the daily chart and support as per change in polarity on the weekly chart), where one may expect chances of sharp bounce back. Immediate resistance is placed at 25600 levels.

Aditya Gaggar Director of Progressive Shares

After a firm start, the Index initially moved higher, gaining over 100 points; however, it struggled to sustain those levels and eventually erased all its gains to close the session at 25,405.30 with a loss of 48.10 points.

Sector-wise, Media and Auto were the top performers, while PSU Banks and Metal sectors lagged.

Mid and Smallcaps managed to end the trade in positive territory and outperformed the Frontline Index.

Nifty50, once again, tested its immediate support at 25,400. A breach of this level could extend the ongoing correction toward 25,300, whereas a decisive close above 25,600 is essential to revive positive momentum.

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