Stock Market Live: Sensex climbs 100 points, Nifty holds above 25,500

The Nifty heads into a fresh month and a new corporate earnings season after closing June on a subdued note, snapping a four-day rally that had seen the index surge over 650 points and inch towards record highs.

Despite the sluggish start to the week for both the Nifty and Nifty Bank, broader markets showed strength, with PSU banks emerging as standout performers.

On Monday, domestic benchmark indices ended lower as investors booked profits after a strong uptrend. This pause, however, didn’t derail the overall momentum—June marked the fourth consecutive month of gains for the Indian markets.

Looking ahead, the Sensex and Nifty 50 are expected to open on a flat note, taking cues from mixed trends in global markets. While Asian markets traded rangebound, Wall Street saw fresh highs overnight, with the S&P 500 and Nasdaq continuing their upward march.

As earnings season kicks off, all eyes will be on corporate guidance and sector-specific trends to determine if the market can resume its bullish trajectory.

Indian equities are set for a firm opening, with the GIFT Nifty rising 31.5 points, or 0.12%, to 25,632.5 as of 6:20 am.

Global cues were mildly supportive. US and European equity futures posted modest gains, while Asian markets showed a mixed trend. Wall Street closed at all-time highs, even as the dollar slipped against a basket of major currencies.

Mahindra Electric Automobile Ltd. (MEAL), the EV arm of the Mahindra Group, is likely to go public sometime between FY28 and FY30. The group has pledged ₹12,000 crore over the next three years to scale up MEAL’s electric passenger vehicle offerings and accelerate its expansion plans.

Oil prices held steady near their lowest levels since early June, as markets awaited clarity on potential output hikes by OPEC+ this weekend.

Brent crude hovered below $67 per barrel, while West Texas Intermediate traded close to $65. According to a Bloomberg survey, the oil cartel and its allies are expected to approve a fourth consecutive monthly production increase at their Sunday meeting, with Saudi Arabia leading efforts to regain global market share.

Hero Motors, the auto components manufacturer led by Pankaj Munjal—first cousin of Hero MotoCorp Chairman Pawan Munjal—has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), reviving plans for its initial public offering (IPO).