Sensex and the Nifty 50, closed in red, amid weak global cues and concerns over valuations and corporate earnings. The Sensex fell by 109 points, or 0.14%, to close at 80,039.80, while the Nifty 50 ended the day down by 7 points, or 0.03%, at 24,406.10.
Both indices have been on a downward trajectory since July 19, largely due to unimpressive Q1 earnings and the lack of new market catalysts. Additionally, the Budget 2024 failed to lift market sentiment as it aligned with expectations and introduced increased taxes on capital gains.
In line with the benchmark indices, the BSE Midcap and Smallcap indices fell by 0.22% and 0.14%, respectively.
Impact on the stock market
The Nifty PSU Bank index fell by 0.58%, indicating a notable decline in public sector banks. Similarly, the Consumer Durables sector dropped by 0.84%, Realty by 0.83%, and Financial Services by 0.50%. These sectors faced significant losses, reflecting a cautious market sentiment.
Conversely, the Nifty Oil and Gas sector saw a strong performance, rising by 2.22%. The Auto sector also did well, gaining 1.26%, followed by Pharma with a 0.94% increase, and Media up by 0.81%. These sectors recorded healthy gains, showcasing investor confidence in their potential.
The Nifty Bank index declined by 0.83%, while the Private Bank index saw a drop of 0.92%. This trend highlights the mixed performance across different banking sectors.
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| Sector/Index | Performance |
| IT & BPM sector | -0.15% |
| Healthcare sector | +0.61% |
| Oil & Gas sector | +2.22% |
| Real estate sector | -0.83% |
| PSU Bank in India | -0.58% |
Top gainers today
| Company | Price | Change (%) |
| Tata Motors Share Price | 1,090.95 | +6.15 |
| ONGC Share Price | 335.80 | +5.09 |
| SBI Life Insura Share Price | 1,695.40 | +3.82 |
| BPCL Share Price | 326.15 | +3.56 |
| Sun Pharma Share Price | 1,665.80 | +2.86 |
Top losers today
| Company | Price | Change (%) |
| Axis Bank Share Price | 1,175.90 | -5.11 |
| Nestle Share Price | 2,480.65 | -2.39 |
| Titan Company Share Price | 3,405.80 | -2.09 |
| ICICI Bank Share Price | 1,197.90 | -2.05 |
| Tata Steel Share Price | 157.39 | -1.82 |
Market aftermath: Impact on stocks
Canara Bank Q1: Net profit rises 11% to ₹ 3,905 crore
Canara Bank reported a strong financial performance for the first quarter of FY25. The state-owned lender posted a 10.5% year-on-year increase in net profit, reaching ₹3,905.28 Cr. Sequentially, the net profit rose by 4%, showcasing the bank’s consistent growth. Additionally, it demonstrated significant improvement in its asset quality.
The gross non-performing asset (NPA) ratio stood at 4.14% in the June quarter, a notable decrease from 5.15% in the same period last year and 4.23% in the previous quarter. This improvement indicates better credit management and a healthier loan portfolio.
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Suzlon Energy at multi-year high
Suzlon Energy continued its upward trajectory, with shares rising by 4% and hitting a multi-year high on July 25. This surge was fueled by the company’s impressive Q1 FY25 results, which showed a 200% increase in net profit, reaching ₹ 302 crore, and a 50% rise in revenue from operations, amounting to ₹ 1,348 crore.
Over the last five days, Suzlon’s stock has rallied by approximately 14%, significantly outperforming the benchmark Nifty, which declined by 1.5% during the same period.
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Jyothy Labs jumps 6%
Jyothy Labs saw a significant boost in its stock price, which jumped over 6% following the release of its Q1 FY25 financial results. The FMCG firm reported a 5.7% increase in net profit, reaching ₹ 101.7 crore, compared to ₹ 96.3 crore in the same quarter of the previous year. Revenue also grew by 8%, totaling ₹ 742 crore.
Shares were trading at ₹ 540.5 on the National Stock Exchange (NSE), marking a 6.33% increase from the previous close. The stock opened at ₹ 507 and reached an intraday high of ₹ 547.7, reflecting strong investor confidence driven by the company’s robust financial performance and positive market sentiment.
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Crude oil price decline
Crude oil futures traded lower as the market awaited the release of US GDP data. September Brent oil futures were down by 0.73% at $81.11, while September crude oil futures on WTI were down by 0.76% at $77.
The market is looking for signals from the US GDP data to gauge the economic outlook and its impact on crude oil demand. A potential reduction in interest rates by the US Federal Reserve, as anticipated by some market players, could boost demand for commodities, including crude oil.
Conclusion
July 25 was marked by continued declines in the Sensex and Nifty 50, extending their losing streak to five sessions. Despite this, mid and small-cap segments showed some resilience.
Positive earnings reports from companies like Canara Bank, Suzlon Energy, and Jyothy Labs provided some bright spots in an otherwise cautious market environment. Investors are closely watching global economic data and domestic earnings reports to navigate the current market conditions.
Stay tuned on StockGro for more updates on market trends.
