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EQUITY
Post Session: Quick Review
Jul-03-2025

Indian equity benchmarks failed to sustain early gains and ended in negative territory on Thursday.  After making a cautious start, soon indices added some gains to trade higher as traders took support with a survey showing that India's services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures. In last hour of trade, markets erased all intraday gains and closed with modest losses, as investors turned cautious ahead of the anticipated India-US trade deal.

Some of the important factors in today’s trade:

Ongoing foreign fund outflow: Some concern came as exchange data showed Foreign institutional investors (FIIs) offloaded equities worth Rs 1,542.56 crore on a net basis on Wednesday. 

India’s services PMI grows to 60.4 in June: HSBC final India Services Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 60.4 in June from 58.8 in May. The HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also surged to 61.0 in June as against 59.3 in May.

Jaishankar holds talks with American counterparts: Traders paid no attention towards External Affairs Minister S Jaishankar and his American counterpart Marco Rubio have hold talks focused on ways to deepen the India-US collaboration in key sectors such as trade, defence, energy, mobility and critical technologies.

Global front: European markets were trading mostly in red, as traders were cautious ahead of the deadline of July 9 set by the US President Donald Trump for reaching trade deals with its partner countries. Asian markets ended mostly in green as investors reacted to a U.S.-Vietnam trade deal and awaited the monthly U.S. nonfarm payroll data later in the day for directional cues.

The BSE Sensex ended at 83239.47, down by 170.22 points or 0.20% after trading in a range of 83186.74 and 83850.09. There were 10 stocks advancing against 20 stocks declining on the index. (Provisional)

The broader indices ended mixed; the BSE Mid cap index was down by 0.06%, while Small cap index up by 0.47%. (Provisional)

The top gaining sectoral indices on the BSE were Healthcare up by 0.74%, Oil & Gas up by 0.45%, Consumer Durables up by 0.43%, Auto up by 0.40% and Energy up by 0.30%, while Metal down by 0.77%, Realty down by 0.61%, Telecom down by 0.55%, Bankex down by 0.48% and Utilities down by 0.48% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Maruti Suzuki up by 0.98%, Infosys up by 0.48%, NTPC up by 0.45%, Eternal up by 0.38% and Asian Paints up by 0.38%. On the flip side, Kotak Mahindra Bank down by 1.93%, Bajaj Finserv down by 1.46%, Adani Ports and Special Economic Zone down by 0.80%, Trent down by 0.76% and Titan Comapny down by 0.68% were the top losers. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) has directed banks and other lenders not to levy any pre-payment charges on all floating-rate loans and advances, including for business purposes, availed by individuals and micro and small enterprises (MSEs). The directions will be applicable to all loans and advances sanctioned or renewed on or after January 1, 2026. In terms of extant guidelines, banks and NBFCs are not permitted to levy foreclosure charges/pre-payment penalties on any floating rate term-loan sanctioned to individual borrowers with or without co-obligant(s) for purposes other than business. 

In a circular, the RBI said the availability of easy and affordable financing to MSEs is of paramount importance. However, the Reserve Bank's supervisory reviews have indicated divergent practices among regulated entities (REs) with regard to the levy of pre-payment charges in case of loans sanctioned to MSEs, which lead to customer grievances and disputes. Based on a review of the supervisory findings and public feedback received on a draft circular, the central bank has issued the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025. For all loans granted for business purpose to individuals and MSEs, with or without co-obligant(s), a commercial bank (excluding Small Finance bank, Regional Rural bank and Local Area bank), a Tier 4 Primary (Urban) Co-operative bank, an NBFC-UL, and an All India Financial Institution shall not levy any pre-payment charges.

It further said also, for all loans granted for purposes other than business to individuals, with or without co-obligant(s), a regulated entity (RE) shall not levy pre-payment charges. A Small Finance bank, a Regional Rural bank, a Tier 3 Primary (Urban) Cooperative bank, State Cooperative bank, Central Cooperative bank and an NBFCML shall not levy any pre-payment charges on loans with sanctioned amount/ limit up to Rs 50 lakh. It also said the norms will be applicable irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in period.

The CNX Nifty ended at 25405.30, down by 48.10 points or 0.19% after trading in a range of 25384.35 and 25587.50. There were 20 stocks advancing against 30 stocks declining on the index. (Provisional)

The top gainers on Nifty were Apollo Hospital up by 1.67%, Dr. Reddy's Lab up by 1.61%, Hero MotoCorp up by 1.58%, ONGC up by 1.24% and Maruti Suzuki up by 1.03%. On the flip side, SBI Life Insurance down by 2.87%, Kotak Mahindra Bank down by 1.96%, Bajaj Finance down by 1.39%, Bajaj Finserv down by 1.35% and JSW Steel down by 1.30% were the top losers. (Provisional)

European markets were trading mostly in red; France’s CAC fell 17.58 points or 0.23% to 7,720.84 and Germany’s DAX lost 0.34 points to 23,789.77, while UK’s FTSE 100 increased 31.31 points or 0.36% to 8,806.00.

Asian markets ended mostly higher on Thursday tracking Wall Street’s gains overnight after US President Donald Trump's announcement of the US-Vietnam trade deal. Meanwhile, investors awaited US non-farm payrolls data that could influence the Federal Reserve's timeline for interest rate cuts. Japanese shares marginally rose, despite ongoing uncertainty over a trade deal with the United States and the threat of heavy tariffs. Seoul shares gained sharply, underpinned by the revision of the shareholder friendly Commercial Act and developments in tariff talks with the United States. Chinese shares ended up after the US Trump administration lifted recent export license requirements for chip design software sales in China. However, Hong Kong shares fell, led by technology shares, on fears over slowing Chinese growth. A private survey showed China's services activity growth hit a nine-month low in June.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,461.15

6.36

0.18

Hang Seng

24,069.94

-151.47

-0.63

Jakarta Composite

6,878.05

-3.20

-0.05

KLSE Composite

1,548.99

-1.22

-0.08

Nikkei 225

39,785.90

23.42

0.06

Straits Times

4,019.57

8.80

0.22

KOSPI Composite

3,116.27

41.21

1.32

Taiwan Weighted

22,712.97

135.23

0.60
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