Domestic benchmarks ended higher on Friday, breaking a two-day losing streak. The Nifty closed comfortably above the 25,450 level, powered by gains in energy and pharma stocks. However, metal and auto counters remained under pressure.

The session began on a cautious note, with indices trading in the red through the first half. But a strong rebound in heavyweight names helped the market recoup losses and finish on a positive note.

Investor focus now shifts to the anticipated US-India trade deal, with the July 9 tariff deadline looming. Hopes of a favorable outcome are keeping sentiment buoyant, potentially setting the stage for the next leg of the rally.

The S&P BSE Sensex advanced 193.42 points or 0.23% to 83,432.89. The Nifty 50 index jumped 55.70 points or 0.22% to 25,461. In the previous two consecutive sessions, the Sensex and Nifty fell by 0.54% and 0.53%, respectively.

Trent (down 11.93%), Tata Steel (down 1.72%) and Eicher Motors (down 1.60%) were major drags.

In the broader market, the S&P BSE Mid-Cap index rose 0.23% and the S&P BSE Small-Cap index added 0.17%.

The market breadth was strong. On the BSE, 2,259 shares rose and 1,790 shares fell. A total of 140 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 0.56% to 12.32.

SEBI Action on Jane Street:

The Securities and Exchange Board of India (SEBI) has barred U.S.-based trading firm Jane Street Group from accessing the Indian securities market. According to an order posted on SEBI's website, the firm and its related entities are prohibited from buying, selling, or otherwise dealing in securities, directly or indirectly.

SEBI has also issued an interim order to impound over Rs 4,843.57 crore in alleged illegal gains. The regulator stated that Jane Street allegedly used strategies to artificially influence the Nifty 50 index to benefit from larger positions in index options. Banks have been directed not to allow any debits from accounts held individually or jointly by the firm's entities without SEBI's prior approval.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.17% to 6.301 from the previous close of 6.290.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4000 compared with its close of 85.5500 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement advanced 0.15% to Rs 96,925.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.18% to 96.95.

The United States 10-year bond yield fell 0.51% to 4.318.

In the commodities market, Brent crude for August 2025 settlement declined 74 cents or 1.08% to $68.06 a barrel.

Global Markets:

US Dow Jones futures were down over 249 points, signaling a weak start for Wall Street in the next session. U.S. market is closed Friday for the Independence Day holiday.

European indices were trading lower as manufacturing orders in Germany tumbled 1.4% month on month in May after increasing by a revised 1.6% in April. The decline was larger than expected and primarily attributed to a substantial 17.7% month-on-month decrease in orders in the computer, electronic and optical products sector.

Asian stocks ended mixed on Friday, taking cues from Wall Street, where investors cheered a surprisingly upbeat U.S. jobs report that soothed fears of an economic cool down.

Overnight, U.S. indices were all green. The S&P 500 and Nasdaq Composite notched fresh record highs, while the Dow Jones Industrial Average climbed 0.77%. The S&P 500 rose 0.83%, and the Nasdaq led the pack with a 1.02% gain.

Data from the U.S. Bureau of Labor Statistics showed that nonfarm payrolls increased by 147,000 in June, above expectations and revised upward from 144,000 in May. The unemployment rate declined slightly to 4.1%, while average hourly earnings rose 0.2% month-over-month, indicating limited wage-driven inflation. Initial jobless claims also fell to a six-week low.

In corporate developments, shares of Tripadvisor rose following reports that activist investor Starboard Value has acquired a stake exceeding 9% in the company. Datadog shares also advanced after it was announced the company will be added to the S&P 500 index.

Stocks in Spotlight:

Trent slumped 11.93% after the company's Q1 FY26 business update came in below market expectations, prompting concerns over its growth momentum. The Tata Group's retail arm reported a 20% year-on-year increase in standalone revenue, reaching Rs 5,061 crore in the June 2025 quarter. However, this growth fell short of the company's five-year compounded annual growth rate (CAGR) of 35%, raising questions about whether Trent can sustain its past performance. The market reacted swiftly to the miss, with a domestic brokerage firm cutting its revenue growth estimates for FY26 and FY27 by 5% and 6% respectively.

Nuvama Wealth Management fell 11.26% after the Securities and Exchange Board of India (SEBI) barred U.S.-based proprietary trading firm Jane Street Group from accessing the Indian securities market. Nuvama is Jane Street's local trading partner, raising concerns about potential business impact following the regulatory action.

HDFC Bank added 0.18%. The bank said that its average deposits increased 16.4% to Rs 26,58,000 crore as on 30th June 2025 compared with Rs 22,83,100 crore as on 30th June 2024.

Bandhan Bank slipped 2.18%. The banks total deposits rose by 16.1% to Rs 154,664 crore in the quarter ended 30 June 2025, compared to Rs 133,207 crore recorded in the quarter ended 30 June 2024.

Bajaj Finance (BFL) rose 1.60% after the company's deposits jumped 15% to approximately Rs 72,100 crore as of 30th June 2025 compared with Rs 62,774 crore as of 30th June 2024.

UCO Bank inched higher 0.34%. The bank reported a 16.58% rise in total advances to Rs 2.25 lakh crore as of 30 June 2025, as against Rs 1.93 lakh crore recorded as of 30 June 2024.

Punjab & Sind Bank added 0.37%. The bank said that its total business jumped 10.94% to Rs 2,31,129 crore as of 30 June 2025 compared with Rs 2,08,331 crore as of 30 June 2024. As of 30 June 2025, total deposits increased by 8.78% year-on-year to Rs 1,31,183 crore, compared to Rs 1,20,593 crore as of 30 June 2024.

Suryoday Small Finance Bank (SFB) advanced 2.57% after the bank's gross advances increased 20% to to Rs 10,846 crore in Q1 FY26, compared withj Rs 9,037 crore in Q1 FY25. The bank's total deposits grew by 39% YoY and 7% QoQ to Rs 11,312 crore in Q1 FY26.

S H Kelkar and Company rose 0.15%. The company announced that Rohit Saraogi has tendered his resignation from the position of group chief financial officer (CFO) and key managerial personnel of the company to pursue another career opportunity.

Zinka Logistics Solutions gained 0.57%. The company announced that the Reserve Bank of India (RBI) has issued a prepaid payment instruments (PPI) license to TZF Logistics Solutions, a wholly owned subsidiary of the company.

IPO Update:

The initial public offer (IPO) of Crizac received bids for 1,54,39,46,112 shares as against 2,58,36,909 shares on offer, according to stock exchange data at 16:48 IST on Friday (04 July 2025). The issue was subscribed 59.76 times.

The issue opened for bidding on Wednesday (2 July 2025) and it will close on Friday (04 July 2025). The price band of the IPO is fixed between Rs 233 and 245 per share. An investor can bid for a minimum of 61 equity shares and in multiples thereof.

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