The Indian stock market consolidated this week, ending a two-week winning streak. Profit-taking, global geopolitical tensions, and SEBI’s regulatory actions weighed on large caps, though broader markets and SME IPOs remained active. Resilient mid and small-caps, along with selective sectoral gains, cushioned the overall weakness.
Table of Contents
- Key Market Indices Performance – Sensex & Nifty Weekly Wrap
- Sectoral Performance Overview
- Top Stock Market News – Domestic & Global Events
- FII and DII Activity – Weekly Institutional Flow
- IPO Market Update – Listings, Subscriptions, and New Issues
- Top Gainers and Losers – Weekly Movers
- Economic and Global Cues – Inflation, Crude, Global Risks
- Final Takeaway – Weekly Summary
- Sensex: Closed at 83,432.89, down 0.21% for the week
- Nifty 50: Settled at 25,461.00, down 0.22% for the week
Broader Market:
- BSE Midcap: +0.4%
- BSE Smallcap: +0.3%
Wrap-up: Large caps declined on profit booking while mid and small-caps attracted steady interest.
The past week saw a mixed bag for Indian sectors, with a clear divergence between defensive and cyclical plays. While certain pockets showed resilience and even gains, others faced selling pressure, primarily due to profit-booking and specific regulatory actions.
Top Weekly Gainers:
- IT: +0.55%
- Details: The Information Technology sector demonstrated positive momentum throughout the week, ending with a gain of 0.55%. This uplift was likely driven by a combination of factors, including a weaker US dollar (which generally benefits IT exporters by improving their realisation from overseas contracts), resilient demand for digital services, and a likely shift in investor preference towards stable growth sectors amidst broader market consolidation. The sector's strong performance provided crucial support to the overall market.
- Key Stocks Contributing: While not specified in the original data, typically large-cap IT firms such as Infosys, TCS, Wipro, and HCLTech would be key drivers of the Nifty IT index.
- Financial Services: +0.49%
- Details: The financial services sector, encompassing banking and non-banking financial companies (NBFCs), posted a healthy gain of 0.49%. This resilience can be attributed to robust Q1 updates from key players like Bajaj Finance (new loans up 23%, AUM up 25% YoY) and Bank of Baroda (global advances up 12.63% YoY). The positive news flow around business growth and stable asset quality in some segments helped the sector withstand broader market cautiousness, even as SEBI's action on Jane Street impacted some specific broking firms within the broader financial services umbrella.
- Key Stocks Contributing: Bajaj Finance, Bank of Baroda, and other well-performing banks likely contributed.
- Healthcare: +0.49%
- Details: Mirroring the broader defensive theme, the Healthcare sector also saw a gain of 0.49% this week. This performance was bolstered by strong individual stock performances within the pharmaceutical sub-segment, indicating investor preference for sectors perceived as less sensitive to economic cycles.
- Key Stocks Contributing: Significant contributions came from stocks like Mankind Pharma (+3.34%), Aurobindo Pharma (+2.67%), and Laurus Labs (+2.29%).
- Oil & Gas: +0.46%
- Details: The Oil & Gas sector closed the week up by 0.46%. This positive movement was supported by relatively stable Brent crude prices hovering around $67.94 per barrel, which is beneficial for a major oil importer like India. Stable input costs for oil marketing companies and strategic partnerships (like ONGC & Mitsui for ethane carriers) likely contributed to the positive sentiment.
- Key Stocks Contributing: BPCL, Mahanagar Gas, and IOCL were among the top performers within the sector.
- Pharma: +0.26%
- Details: As a sub-segment of Healthcare, the Pharma sector itself recorded a gain of 0.26%. This aligns with the broader defensive shift, as pharmaceutical companies tend to offer stable earnings regardless of economic fluctuations. Positive trends in individual scrips further reinforced this performance.
- Key Stocks Contributing: Mankind Pharma, Aurobindo Pharma, Laurus Labs, and Glenmark Pharma were notable performers.
Top Weekly Losers:
- Metal: -0.88%
- Details: The Metal sector experienced significant declines, closing down by 0.88%. This sector is highly cyclical and sensitive to global economic growth and commodity prices. Profit-booking after recent rallies and potential concerns over global demand outlook or trade policies (e.g., US tariffs) likely contributed to the downturn.
- Key Stocks Impacted: Major metal stocks like Tata Steel, SAIL, JSW Steel, and Jindal Steel & Power all experienced declines.
- Auto: -0.52%
- Details: Despite some individual stock gains, the Nifty Auto index closed with a marginal dip of -0.52%. While some auto companies reported strong sales figures (like Eicher Motors with a 22% YoY jump in motorcycle volumes), the sector as a whole faced profit-booking. The auto sector is sensitive to consumer sentiment and economic outlook, and the slight decline suggests some cautiousness in this cyclical space.
- Key Stocks Impacted: Eicher Motors (-1.58%) was a notable loser due to profit-booking despite good sales.
- Realty & Power: Sharp declines
- Details: Both the Realty and Power sectors witnessed "sharp declines" during the week. While Nifty Realty initially jumped, it reversed course, indicating significant profit-booking. The realty sector is particularly sensitive to interest rates and liquidity, and some correction could be a result of cautious investor sentiment. The Power sector also faced headwinds, suggesting either profit-booking after a strong run or specific news impacting its constituents.
- Key Stocks Impacted: In Realty, stocks that initially gained like Godrej Properties, Phoenix Mills, and Raymond Realty likely saw reversals.
Wrap-up:
The weekly sectoral performance clearly indicates a rotation from cyclical and rate-sensitive sectors towards more defensive plays. IT, Financial Services, Healthcare, Oil & Gas, and Pharma outperformed, reflecting investor preference for stability, resilient earnings, and sectors less impacted by immediate economic headwinds.
Conversely, highly cyclical sectors like Metal, Auto, Realty, and Power experienced corrections and profit-booking. This shift suggests a cautious approach by investors, focusing on sectors with predictable cash flows and growth prospects amidst broader market consolidation and specific regulatory actions.
Key Domestic Events:
- SEBI barred Jane Street, impacting broking stocks
- Crizac IPO subscribed 54.02x
- Trent fell 11.4% on weak growth commentary
- Bajaj Finance jumped 3.3% on robust Q1 updates
Global Highlights:
- Ukraine conflict escalated
- US Fed held rates steady at 4.3%
- US dollar fell over 10% YTD
Wrap-up: Domestic resilience countered global headwinds with stock-specific moves driving market mood.
The past week witnessed a continued trend of selling by Foreign Institutional Investors (FIIs) in the Indian equity markets, which was largely counterbalanced by robust buying from Domestic Institutional Investors (DIIs). This dynamic highlights the domestic institutional strength in absorbing foreign outflows and providing resilience to the market.
Daily Breakdown:
- June 30: FIIs were net sellers with an outflow of ₹1,970.1 crore. DIIs, however, provided strong support with net buying of ₹771.1 crore.
- July 1: The trend of FII selling continued, with a net outflow of ₹1,561.6 crore. DIIs significantly increased their buying, injecting ₹3,036.7 crore into the market, helping to offset the foreign selling pressure.
- July 2: FIIs remained net sellers for the third consecutive day, with an outflow of ₹1,481.2 crore. DIIs continued their strong buying, contributing ₹1,333.1 crore.
- July 3: Both FIIs and DIIs registered net selling on this day. FIIs sold ₹760.1 crore, while DIIs also saw a net outflow of ₹1,028.8 crore. This was the only day in the week where DIIs were net sellers.
- July 4: The data for July 4 shows FIIs with a net selling of ₹760.1 crore, mirroring the previous day's figure. DIIs also continued to be net sellers with an outflow of ₹1,028.8 crore, consistent with July 3's activity.
Weekly Total:
- Foreign Institutional Investors (FIIs): For the entire week, FIIs were significant net sellers, offloading equities worth a total of ₹6,604.5 crore.
- Domestic Institutional Investors (DIIs): In contrast, Domestic Institutional Investors (DIIs) demonstrated strong absorption capacity, registering a substantial net buying of ₹7,609.5 crore over the week.
Wrap-up: The overall institutional flow for the week indicates that while Foreign Institutional Investors (FIIs) were net sellers to the tune of ₹6,604.5 crore, Domestic Institutional Investors (DIIs) stepped in as strong buyers, absorbing this selling pressure with a net investment of ₹7,609.5 crore. This continued domestic support has been crucial in maintaining market stability amidst foreign outflows. The divergence in activity on July 3 and 4, where both FIIs and DIIs were net sellers, suggests a potential pause or profit-booking by domestic institutions after their strong buying spree earlier in the week.
The Indian IPO market presented a contrasting picture this week, with the SME segment continuing its strong run, delivering impressive listing gains. Mainboard IPOs, while attracting significant interest, saw a more selective approach from investors, reflecting a cautious sentiment in the broader market.
Mainboard IPOs:
- Crizac Ltd: This mainboard IPO garnered substantial investor interest, achieving an impressive oversubscription of 59.82 times by the final day of bidding, July 4, 2025. The Qualified Institutional Buyers (QIB) portion led the demand with 134.35x subscription, followed by Non-institutional investors (NIIs) at 76.15x, and retail investors at 2.89x. The IPO, entirely an Offer-for-Sale (OFS) of ₹860 crore, was priced in the band of ₹233–245. Crizac, an international B2B education platform, is poised for listing on July 9, 2025, on both BSE and NSE.
SME IPOs (Small and Medium Enterprises):
The SME segment continued to be a hotbed of activity, providing strong listing premiums for investors:
- Neetu Yoshi: This SME IPO debuted strongly on July 4, 2025, listing at ₹105 on BSE SME, a remarkable 40% premium over its issue price of ₹75. The ₹77.04 crore IPO saw an overwhelming 128.18x subscription, with non-institutional investors leading the charge.
- Adcounty Media: Another SME success story, Adcounty Media, listed on July 4, 2025, at ₹130, marking a 52.94% premium over its IPO price of ₹85. The ₹50.69 crore IPO was massively oversubscribed by 273.08 times.
- Meta Infotech: This SME IPO, which opened on July 4, 2025, and will close on July 8, 2025, has already seen strong oversubscription on its first day. As of July 4, it was subscribed 2.90 times overall, with QIBs at 5.13x, NIIs at 2.52x, and retail investors at 1.89x. The cybersecurity solutions provider aims to raise approximately ₹80.18 crore.
- Cryogenic OGS: This SME IPO, open from July 3 to July 7, 2025, has received an exceptional response, clocking an overall subscription of 92.78 times by Day 2 (July 4, 2025). Retail Individual Investors led with a massive 138.43 times subscription, highlighting significant investor confidence in the company, which manufactures measurement and filtration equipment for oil, gas, and chemical industries.
- White Force: This HR outsourcing SME IPO, open from July 3 to July 7, 2025, has been oversubscribed by 0.59x on Day 2 (July 4, 2025). While not as high as some peers yet, it is still attracting interest across investor categories.
Upcoming IPOs:
The IPO pipeline remains active, with several new issues slated to open for subscription next week, offering diverse investment opportunities:
- Travel Food Services: This mainboard IPO is scheduled to open from July 7 to July 9, 2025. The company, which operates India's largest network of travel QSRs and airport lounges, has already raised ₹599 crore from anchor investors. The IPO is an OFS of up to ₹2,000 crore, with a price band of ₹1,045 – ₹1,100 per equity share.
- Chemkart: This SME IPO is set to open from July 7 to July 9, 2025. It's a book-built issue worth ₹80.08 crore, focusing on the processing and trading of nutritional and health supplements.
- Smarten Power Systems: Another SME IPO, Smarten Power, will be open for subscription from July 7 to July 9, 2025. The company designs and assembles power backup and advanced solar power products, aiming to raise ₹50 crore at a fixed price of ₹100 per share.
- GLEN Industries: This SME IPO is scheduled to open from July 8 to July 10, 2025. It's a fresh issue of up to 64,96,800 equity shares, with a price band of ₹92 to ₹97 per share, involved in rigid plastic packaging.
- CFF Fluid Control: This SME FPO (Further Public Offer) will be open from July 9 to July 11, 2025. The company manufactures and services submarine machinery and critical component systems for the Indian Defence PSU Shipyard, and aims to raise ₹83.19 crore at a fixed price of ₹585 per share.
Wrap-up: The past week underscored the robust demand for SME IPOs, which consistently delivered impressive listing premiums, indicating strong investor appetite for high-growth, smaller-cap companies. In contrast, while mainboard IPOs like Crizac garnered significant oversubscription, the overall market sentiment remained cautious, leading to more selective interest. The upcoming week promises a flurry of new issues, particularly in the SME space, suggesting continued activity in the primary market.
The past week in the Indian stock market saw a mix of strong individual performances driven by positive company-specific news and notable declines influenced by cautious outlooks and regulatory concerns.
Top Gainers:
- Bajaj Finance: +1.74%
- Current Market Price: ₹925.25
- Reason: The stock rallied significantly due to a strong business update for Q1 FY26, reporting a 25% year-on-year (YoY) jump in Assets Under Management (AUM) and 23% YoY growth in new loans booked.
- Dr. Reddy’s: +1.45%
- Current Market Price: ₹1,307.40
- Reason: The stock showed a positive movement, likely driven by a broader positive sentiment for the pharmaceutical sector and potentially anticipation of its upcoming Q1 FY26 results on July 23rd.
- Infosys: +1.30%
- Current Market Price: ₹1,640.70
- Reason: Infosys saw gains amidst a positive outlook for the IT sector, generally benefiting from a weaker US dollar and resilient demand for digital services.
- ICICI Bank: +1.20%
- Current Market Price: ₹1,442.80
- Reason: The bank's stock advanced, supported by a positive outlook for the banking sector, including expectations of robust loan growth and stable asset quality, as highlighted by institutional research.
- HUL: +1.19%
- Current Market Price: ₹2,339.30
- Reason: Hindustan Unilever's stock gained, reflecting investor confidence in defensive consumer staples, known for stable earnings and strong fundamentals.
Top Losers:
- Trent:-11.97%
- Current Market Price: ₹5,456.00
- Reason: The stock experienced a sharp decline following its Annual General Meeting (AGM), where the company indicated a moderated Q1 FY26 revenue growth of approximately 20%, a significant slowdown from its historical performance. This led to a downgrade from Nuvama Institutional Equities.
- Nuvama Wealth: -10.25%
- Current Market Price: ₹7,288.00
- Reason: The stock plummeted amid concerns over potential business impact following SEBI's regulatory crackdown on US-based Jane Street Group for alleged market manipulation. As Jane Street's domestic trading partner, Nuvama Wealth faced investor anxiety despite no direct accusations against the firm.
- Angel One: -6.01%
- Current Market Price: ₹2,773.50
- Reason: The brokerage firm's stock fell due to weaker-than-expected June 2025 business updates, reporting a significant drop in gross client acquisition (down 41.5% YoY) and lower trading volumes. This was exacerbated by the broader regulatory concerns impacting broking firms.
- DCM Shriram: -4.58%
- Current Market Price: ₹1,386.20
- Reason: While the exact real-time catalyst for this specific week's decline is not explicitly detailed, earlier reports from late May 2025 indicated a significant consolidated net profit decline of 38.66% for the March 2025 quarter, potentially contributing to a sustained cautious sentiment.
Wrap-up: The week's movements underscore that stock-specific catalysts were the primary drivers of sharp price changes, often overriding broader sector trends. Positive business updates and defensive sector appeal fueled gains, while moderated outlooks and regulatory actions led to significant corrections.
Domestic:
- RBI Floating Bonds rate at 8.05%
- Ban on floating home loan prepayment charges from Jan 2026
- CPI inflation projected at 2.9% Q1 FY26
- ₹1 lakh crore VRRR auction conducted
Global:
- Brent crude steady at $67.94
- US Fed hints at possible July rate cut
- July 9 India-US tariff talks key risk
Wrap-up: India’s stable inflation and liquidity management countered global risk aversion.
The Indian market ended a two-week rally with cautious consolidation. While FIIs turned sellers, DII buying, robust SME IPO momentum, and stable inflation offered resilience. Sectoral rotation continued with defensives in demand. The coming week hinges on global risk events and the start of earnings season.