At 8:10 AM, GIFT Nifty futures were trading 6 points lower at 25,775, indicating a muted start for the benchmark indices BSE Sensex and NSE Nifty.

On Friday, the BSE Sensex ended above the 84,000 mark at 84,058.90, up 303.03 points or 0.36%. Similarly, the NSE Nifty50 advanced 88.80 points, or 0.35%, to settle at 25,637.80. In the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices added 0.27% and 0.91%, respectively.

Global cues such as geopolitical tensions, U.S. tariff developments, along with domestic factors like monsoon progress, crude oil prices, and FII activity are expected to set the tone for the Indian share market this week.

Torrent Pharmaceuticals, JB Chemicals: Torrent Pharma has signed a deal with global investment firm KKR to acquire a controlling stake in JB Chemicals & Pharmaceuticals.

Piramal Enterprises: The company has invested ₹700 crore into subsidiary Piramal Finance via a rights issue.

Hindustan Aeronautics (HAL): The board of the state-owned defence company has recommended a final dividend of ₹15 per equity share for FY25.

Bharat Heavy Electricals (BHEL): The PSU has received an order worth ₹6,500 crore from Adani Power.

The allotment status of Sambhv Steel Tubes’ ₹540 crore IPO is expected to be finalised today, following an overwhelming response from investors. The public issue, open from June 25 to June 27, was subscribed 30.33 times overall. The stock is scheduled to list on Wednesday.

Wall Street ended the week on a high note Friday, with the S&P 500 and Nasdaq notching fresh record closes as investor sentiment was buoyed by optimism over trade and the prospect of interest rate cuts by the Federal Reserve. While markets momentarily slipped after President Trump announced the suspension of trade negotiations with Canada, they quickly regained ground. Robust consumer spending and upbeat sentiment data added to expectations that the Fed may soon move to ease monetary policy.

Nomura said Torrent Pharma’s mega acquisition of JB Chemicals and Pharmaceuticals Ltd aligns with its inorganic growth strategy and is likely to enhance its India-focused product portfolio.

HSBC has maintained a ‘Buy’ rating on Torrent Pharmaceuticals with a target price of ₹3,775, citing the acquisition of JB Chemicals as a key catalyst for future growth. The deal, it said, will bolster Torrent’s position in chronic therapies in the Indian market while also expanding its international capabilities through JB’s CDMO (contract development and manufacturing organisation) operations. HSBC believes the acquisition marks the next leg of growth for Torrent and is awaiting deal closure. The transaction could be around 3% accretive to Torrent’s FY27 earnings per share (EPS), it added.

Equity benchmarks opened in the red on Monday, with the BSE Sensex dipping 31.5 points to 84,027.33 and the NSE Nifty falling 23.85 points to 25,661.65. Losses deepened shortly after the open, as the Sensex slipped over 130 points to fall below the 84,000 mark, while the Nifty dropped to 25,619, down 18.5 points.

However, broader markets showed resilience, with the Nifty MidCap and SmallCap indices gaining up to 0.5%. Among sectors, PSU banks led the gains with the Nifty PSU Bank index rising over 0.9%, while the Nifty Auto index emerged as the biggest laggard, slipping more than 0.2%.

Shares of Torrent Pharmaceuticals surged as much as 3.9% to ₹3,474.60 on the BSE today, following the announcement to acquire a controlling stake in JB Chemicals and Pharmaceuticals in a major deal worth ₹11,917 crore. Weighed down by the development, JB Chemicals shares dropped as much as 6.5% to ₹1,681.90 on the BSE, while its market cap slipped to ₹26,315.44 crore.

Last night, Torrent Pharmaceuticals announced to acquire a controlling stake in JB Chemicals & Pharmaceuticals from global investment firm KKR. The homegrown pharma major looks to buy 46.39% stake in JB Chemicals for ₹11,917 crore, at an overall equity valuation at ₹25,689 crore on a fully diluted basis.

In a big blow to global equity markets, U.S. President Donald Trump has indicated he does not intend to prolong the 90-day suspension on tariffs for most countries past July 9, the date marking the end of the negotiation window he established. He said his administration will inform countries that trade penalties will be enforced if agreements with the United States are not reached.

Extending opening losses, the BSE Sensex declined over 300 points in the first hour of trade so far, while the NSE Nifty slipped below crucial 25,600 levels. However, the broader market continued to hold early gains.

Shares of Jio Financial Services rose as much as 2.6% to ₹331.90 on the BSE, extending previous session rally, after market regulator the Securities and Exchange Board of India (Sebi) allowed Jio BlackRock Broking to act as a stockbroker and clearing member. The Jio Financial shares have maintained uptrend for five sessions, rising nearly 15% during the said period.

Nifty had been consolidating in a broad range of 24500 to 25200 for the past six weeks, and the breakout from this zone confirms the resumption of the primary uptrend, said Sameet Chavan, Head Research, Technical and Derivative - Angel One.

“Immediate support is now seen at 25500, followed by 25200, which was the upper boundary of the recent consolidation and now acts as a strong support zone. On the upside, while bulls aim for the landmark zone of 26000–26300, intermediate resistance may be encountered near the 25800 level. Throughout the week, broad-based buying was evident, although sector rotation played a more prominent role. Traders are advised to focus on pockets showing sustained momentum and relative outperformance, as leadership is likely to rotate in the coming sessions.”

De-escalating tensions in the Middle East, dovish comments from Federal Reserve officials, reports of a new U.S.-China trade agreement, and signals from government officials that further trade deals were close to completion reversed the sentiment decisively last week, said Devarsh Vakil, Head of Prime Research at HDFC Securities.

“The Nifty has now entered the downward gap area of 25,640-25,740, a significant zone created on October 3rd, 2024. Any decisive close above 25,740 could push the index towards the next psychological and technical resistance at 26,000. On the downside, 25,317 now stands as a crucial immediate support level,” he said.

Shares of SBFC Finance were trading flat with a positive bias at ₹106.75 after brokerage houses Investec and Ambit Capital Institutional assigned ‘Buy’ ratings on the stock. While Investec has given a target price of ₹135, Ambit Capital assigned a price target of ₹124 apiece.

With the Nifty approaching the upper boundary of its consolidation range, the focus should remain on sector-specific leadership and identifying stocks that are showing relative strength within those sectors. A breakout above 25,200 may trigger fresh buying; however, traders should be cautious of false breakouts, especially amid heightened volatility due to the monthly expiry, said Ajit Mishra of Religare Broking Limited.

He advised a stock-specific trading strategy, with preference given to sectors showing relative strength such as banking, auto, realty, and IT. Meanwhile, traders should avoid aggressive positions in FMCG, energy, and the midcap and smallcap segments until there are clear signs of renewed buying interest, Mishra said.

The equity markets in Asia-Pacific region were mostly trading higher today on hopes of trade negotiations between China and the United States. The positive closing of the U.S. stock market on Friday also boosted sentiments.

Extending Friday’s rally, Japan’s Nikkei 225 index rallied as much as 1.5% today, followed by South Korea’s Kospi, which jumped 0.7%. China’s Shanghai Composite was up 0.3%, while Hong Kong’s Hang Seng slide up to 0.55%. Among others, Singapore’s Straits Times, Indonesia’s Jakarta Composite were trading higher, while Taiwan Weighted index was floating in negative terrain. Meanwhile, Australia’s ASX 200 ended 0.5% higher.

Shares of Godrej Properties were down 0.6% at ₹2,350 apiece on the BSE after the real estate major announced its market entry in Panipat, Haryana, to develop its fourth residential plotted township in North India. The Mumbai-based developer said the plotted development will have a revenue potential in excess of ₹1,250 crore.

Shares of Black Box Ltd. hit the upper circuit of 5% on Monday, June 30, after JM Financial initiated coverage on the stock with a bullish outlook. The brokerage assigned a ‘Buy’ rating and set a price target of ₹670, suggesting an upside of nearly 34% from Friday’s closing price of ₹499.10.

Curefoods India Ltd., one of the country’s leading food and beverage brand platforms, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), taking the first step toward launching its initial public offering (IPO).

Equity markets extended their morning losses by mid-session on Monday, with benchmark indices trading near the day’s low. The BSE Sensex tumbled over 500 points, hitting an intraday low of 83,545.89, while the NSE Nifty fell 147 points to touch 25,490.50 — both down around 0.6%.

Selling pressure was visible across sectors, with 22 of the 30 Sensex constituents in the red. Kotak Mahindra Bank, Maruti Suzuki, UltraTech Cement, Axis Bank, and Asian Paints were the biggest laggards.

Meanwhile, select heavyweights provided some support. SBI, Bharat Electronics (BEL), Trent, Zomato (listed as Eternal), TCS, and Tata Motors emerged as the top gainers.

Shares of Kotak Mahindra Bank and Maruti Suzuki India slipped in early trade on Monday, contributing to weakness in the broader market. Kotak Mahindra Bank was down 1.75% to ₹2,168.95 on the BSE, while Maruti Suzuki shares declined 1.8% to ₹12,418.80 apiece. The decline in these heavyweight counters weighed on key indices amid mixed global cues and profit booking in auto and banking stocks.

Shares of Mazagon Dock Shipbuilders Ltd slipped over 2% today, trading at ₹3,246 apiece in the afternoon, despite the company announcing a major international expansion move.

In a significant step towards global expansion, the defence PSU had said in an exchange filing on June 27 that its board has approved the acquisition of a controlling stake in Colombo Dockyard PLC, a shipbuilding and repair company listed on the Colombo Stock Exchange in Sri Lanka. The investment, pegged at up to ₹452 crore, marks Mazagon Dock’s first-ever international acquisition.

After four straight sessions of gains, Indian equity benchmarks closed lower on Monday, weighed down by selling in index heavyweights including Reliance Industries, Axis Bank, Kotak Mahindra Bank, Maruti Suzuki, and UltraTech Cement.

According to provisional data, the BSE Sensex slipped 451 points to settle at 83,608, while the NSE Nifty declined 120.75 points to close at 25,517.

In contrast, the broader market showed resilience, with the Nifty MidCap and Nifty SmallCap indices rising up to 0.6% by the close.