Post Market Update- Markets close lower for 2nd consecutive day

Stocks in the news-

1. Alembic Pharma arm acquired Utility Therapeutics for approx. $12 m.

2. Tata Power ordered to pay $490 million to Kleros in partial arbitration award.

3. Biocon gets European Commission approval for co.’s Denosumab biosimilars.

Economic-

1. HSBC India June services PMI came in at 60.4 Vs. 58.8 in May.

2. HSBC India June composite PMI came in at 61 Vs. 59.3 in May.

Indian indices-

Indian equities gave up their early gains and ended lower on July 02, 2025, led by selling pressure among index heavyweight which weighed on the market sentiments. On the sectoral front, metal, realty, PSU Bank, telecom indices were down 0.5% each, while pharma, media, oil & gas, auto, consumer durable up 0.3-1%. BSE Midcap index ended flat and smallcap index rose 0.5%. The Sensex was down 170.22 points or 0.20% at 83,239.47. The Nifty was down 48.10 points or 0.19% at 25,405.30.

Rupee ended at 85.31/$ against July 02 close of 85.70/$.

Buzzing stocks on BSE-

1. Tata Power Company slipped 1.65% to Rs. 399.75, after arbitral tribunal claims damages worth $498 m in Kleros case.

2. Blue Star surged 4.78% to Rs. 1,841.65, after company said, maintain FY26 industry growth target of 10-15%.

3. Bajel Projects hit 5% upper circuit at Rs. 245.55, after securing mega order from Power Grid Corporation.

Global Signals-

Asian markets rose as investors awaited key US jobs data expected later in the day.

The positive start in Europe comes after a more mixed day. CAC 40 down 0.11%, DAX up 0.04%, FTSE 100 up 0.34%.