CLOSING BELL ——REVIEW & PREVIEW @4PM —— Thursday, July 3rd 2025

# Nifty wobbles as the US-Vietnam deal raises Red Flags!

NIFTY (-48, 25405)
Sensex (-170, 83239)
Bank Nifty (-207, 56792)

# THEME OF THE DAY:

1) After a positive start, Nifty’s gains fizzle out as Investors mindful of the risks as India and the US race to finalise a bilateral trade pact ahead of the July 9 deadline.

The street was nervous and apprehensive after President Trump announced a trade deal that will tariff Vietnam at 20% instead of the 46% tariff from "Liberation Day".

Under the terms of the agreement, Vietnamese exports to the United States will now be subject to a 20% tariff, significantly lower than the 46% levy initially planned.

The deal also sets a 40% tariff on goods transshipped through Vietnam, a measure aimed at curbing the practice of circumventing tariffs by routing Chinese goods through the country.

In return, Vietnam will offer the United States zero-tariff access to its markets, a significant step forward in trade cooperation between the two nations.

2) All eyes will be on the US Nonfarm Payrolls (NFP) data for June, which will trickle in on Thursday, July 3rd.

Well, if NFP data points to signs of weakness in the labor market then simply expect bullish traders to raise Fed’s dovish bets if. Alternatively, upbeat job data would force traders to pare bets supporting Fed interest rate cuts in September.

3) Overnight, Wall Street ended mixed with the Nasdaq scaling new all-time-high while the Dow Jones ended flat.

4) The US Dollar has been dethroned, now at 3 years low at 96.75 area amidst growing concerns over the US fiscal outlook and trade uncertainty that weighed on sentiment.

5) FII selling: In yesterday’s session, FIIs turned out to be net sellers to the tune of Rupees 1562 crores. This week, the FIIs have already sold out Rs. 4300 crores.

# Bottom-line: Bears in control? The return of risk?

# SECTOR GAINERS:
NIFTY MEDIA (+1.45%)
NIFTY HEALTHCARE (+0.52%)
NIFTY AUTO (+0.44%)

# SECTORS LOSERS
NIFTY PSUBANKS (-0.89%)
NIFTY METALS (-0.78%)
NIFTY REALTY (-0.71%)

# Adv-Dec 21—29
# INDIA VIX 12.38 (-0.56%)
# NIFTY PCR (10th July) 0.73
# NIFTY PCR (31st July) 1.21
# USD/INR Futures (July) (-0.36%, 85.43)

# TODAY’S MARKET RE-CAP:

1) Nifty ends the day firmly in red and most importantly for the 2nd day in the row. Blame part of volatility also towards weekly expiry-driven swings.

Technically, Nifty forms another bearish candles indicating tough resistance at recent highs at 25669 area. Nifty’s all-time-high continues to be at 26277.35 mark.

2) Bank Nifty (too slips joining the conga-line of falling markets and mirroring, Nifty’s sliding action. Bank Nifty’s new all-time-high continues to be at 57628.40 mark

3) India VIX continues to be depressed at 12.41 levels.

4) The market breadth (21:29) mostly evenly biased.

5) The Nifty Mid-cap (+0.11%) and Nifty Small-cap (+0.21%) indices however ended with minor gains.

6) Among sectoral indices, maximum sluggishness was witnessed in Nifty PSU BANKS (-0.93%), Nifty METALS (-0.8%) and Nifty REALITY (-0.65%) but that said, buying was witnessed in Nifty MEDIA (+1.48%), Nifty AUTO (+0.42%) and NIFTY PHARMA (+0.39%).

# Bottom-line: Bulls are likely to be reluctant and also, the bears are likely to be reluctant. Serious consolidation seen as the preferred theme.

# TECHNICAL OVERVIEW:

# A bearish candle is being formed on the daily charts of Nifty and Bank Nifty’s daily charts indicating some more consolidation on cards in the near term.

# Technically, Aggressive upside targets continue to be at Nifty’s all-time-high at 26277.35 mark but that confirmation of strength only above Nifty 25700 mark.

Meanwhile, the biggest interweek support for Nifty will be at 25000 (low as on June 24th).

The biggest make-or-break support for Friday’s trade is placed at 25221 mark.

# BULLS OF THE DAY:
DRREDDY (+1.90%)
APOLLOHOSP (+1.77%)
HEROMOTOCORP (+1.75%)
ONGC (+1.19%)
MARUTI (+1.01%)

# BEARS OF THE DAY:
SBILIFE (-2.87%)
KOTAKBANK (-2.03%)
BAJAJFINSV (-1.40%)
JSWSTEEL (-1.26%)
GRASIM (-1.24%)

STOCK ALERT:

1) Hospital stocks like Max Healthcare (+1.57%), Aster DM Healthcare (+8.6%) and Apollo Hospitals Enterprise (+1.67%) were up on healthy business outlook.

2) Biocon (+0.61%) is trading with positive bias after the company said that Biocon Biologics has received the European Commission (EC) marketing authorisation in the European Union (EU) for Vevzuo and Evfraxy biosimilars of Denosumab.

3) Rail Vikas Nigam is consolidating with positive bias after the company said that its board has approved the appointment of Chandan Kumar Verma as chief financial officer (CFO) with effect from 2 July 2025.

4) DMAT tumbles 2.65% after the company shared its June quarter business update where the standalone revenue from operations at Rs 15,932.12 crore for the quarter ended June 30, 2025 (Q1FY26) as compared to a revenue of Rs 13,711.87 crore seen in Q1FY25.

5) Nykaa share price plunged 4% after 64 million shares changed hands on the counter on the BSE. According to reports, pre-IPO investors Harindarpal and Indra Banga were looking to sell up to 2.1% stake in FSN e-Commerce via block deals today.

6) Punjab National Bank (PNB) dropped 2.3% after the bank said its Global Business surged 11.6% Y-o-Y in Q1FY26 to Rs 27.19 trillion, while Domestic Business rose 11.1% to Rs 26.16 trillion. Further, it saw a higher growth in deposits with Global Deposits rising 12.8% Y-o-Y to Rs 15.88 trillion, and Domestic Deposits climbing 12.2% to Rs 15.36 trillion.

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