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Stock Market Live Updates | Gift Nifty Signals Weak Start; Nifty May Consolidate

Synopsis:

Today’s share market’s key developments include: Glenmark’s unit signed a billion-dollar licensing deal with AbbVie. Birla Corp won a key limestone block in Rajasthan. Aegis offloaded its new LPG terminal. OMCs may receive Rs.32,000 crore reimbursement. Sanathan, JTL Ind expand ops; FIIs, DIIs net buyers. | Source: Bajaj Broking Research Desk.


 1:30 PM IST

Stock Market LIVE Update | Sensex tanks 650 points | Nifty falls below 25,200

Sensex plunged over 650 points, while Nifty slipped below the 25,200 mark amid global market concerns. European shares fell after the US expanded its trade war to more countries, including Canada and possibly the EU. The STOXX 600 index dipped 0.4%, with household goods and healthcare stocks leading the decline. Silver prices in India hit a record high of Rs.1.11 lakh/kg. Japan’s Nikkei reversed gains to end 0.19% lower, while the broader Topix rose 0.39%.


 1:00 PM IST

Stock Market LIVE Update | Sensex tanks over 600 points | Nifty drops below 25,200

The Sensex plunged over 600 points while the Nifty slipped below the 25,200 mark amid broad market weakness. Shares of Star Health and Niva Bupa declined after IRDAI began issuing show-cause notices to eight insurers over healthcare portfolio lapses. Star Health fell 1.87% and Niva Bupa dropped 1.69%. Meanwhile, Jefferies unveiled an aggressive list of 11 value stocks, including Adani group picks. In contrast, the FMCG index outperformed with gains led by HUL, Radico Khaitan, and Nestle India.


 11:30 AM IST

Stock Market LIVE Update | Sensex dropped over 600 points | Nifty fell below 25,200

The Sensex plunged over 600 points, while the Nifty slipped below the 25,200 mark, reflecting broad market weakness. Among Nifty50 gainers, Hindustan Unilever surged 4.72%, followed by SBI Life, Nestle India, Axis Bank, and Asian Paints with modest gains. Meanwhile, GTPL Hathway reported a 7% YoY rise in Q1 FY26 revenue to Rs.909.1 crore. Its EBITDA stood at Rs.112.3 crore with a 12.4% margin, while operating EBITDA margin reached 22%. PAT for the quarter was Rs.10.5 crore.


 11:00 AM IST

Stock Market LIVE Update | Sensex plunged 600 points | Nifty fell below the 25,200 mark

The Sensex dropped 600 points and Nifty slipped under 25,200 amid market pressure. Bitcoin hit a record $116,893, with Ether jumping 7% and altcoins like Dogecoin and Cardano rising over 10%. Gold prices rose by Rs.600 per 10g on safe haven demand, with silver also surging. Auto stocks declined up to 3%, including M&M and Bajaj Auto. HUL shares jumped over 5% after Priya Nair’s appointment as the new MD and CEO boosted investor sentiment.


 9:20 AM IST

Stock Market LIVE Update | Sensex falls over 200 points | Nifty drops below 25,300

Sensex fell over 200 points and Nifty slipped below 25,300 as IT stocks, including Infosys, HCL Tech, and Wipro, declined up to 3% in early trade. Hindustan Unilever shares were in focus after Priya Nair was named the next MD and CEO. Zee Entertainment also made headlines as shareholders rejected its fundraising plan. Meanwhile, a SEBI ban on Jane Street raised concerns over NSE’s pre-IPO valuation and potential fallout in derivatives market activity.

GIFT NIFTY: Gift Nifty suggests a negative opening for the Indian market. Nifty spot in today’s session is likely to consolidate in the range of 25,100-25,500.

INDIA VIX: 11.67 | -0.27 (2.24%) ↓ today

Latest Market News

1. Glenmark Pharmaceuticals Ltd | IGI Therapeutics, a Glenmark Pharma subsidiary, has signed an exclusive licensing agreement with AbbVie for its lead asset ISB 2001, developed using the BEAT® protein platform. IGI will receive $700 million upfront, up to $1.225 billion in milestones, and tiered royalties. AbbVie gains rights across major global markets.

2. ⁠Birla Corporation Ltd | The company has been declared the ‘Preferred Bidder’ for the Tadas Limestone Block-II in Nagaur district, Rajasthan, as per a notification issued by the Directorate of Mines & Geology on July 10, 2025. The block spans 160.39 hectares, and Birla Corp secured it with the highest final price offer of 63.50%.

3. ⁠Aegis Logistics Ltd | The company has transferred its newly commissioned 48,000 MT LPG terminal at Pipavav to associate firm AVTL via a slump sale, completed on July 10. The deal is valued at ₹428.4 crore in cash.

4. ⁠OMCs - India set to seek Cabinet nod for ₹32,000-35,000 crore fund to reimburse OMCs for LPG losses.

5. ⁠Sanathan Textiles eyes double-digit margin in FY26, says ED Sammir Dattani.

6. ⁠JTL Ind to increase capacity at Electric Resistance Welded (ERW) pipe manufacturing line. Will add annual capacity of 3 Lk Tonnes/Year at ERW pipe mfg line.

7. ⁠FIIs Net Buy ₹221.06 Cr while, DIIs Net Buy ₹591.33 Cr in equities yesterday (Provisional).

GLENMARK PHARMACEUTICALS

Trade

2181.1277.10 (14.55 %)

Updated - 11 July 2025
2284.80day high
DAY HIGH
2094.40day low
DAY LOW
15680321
VOLUME (BSE)

In-Depth Market Insights: Global Outlook, Derivatives & More

Other Asset Classes

  1. Treasury Yield:

    • Treasury yields were little changed on Thursday after the release of new data pointing to strength in the U.S. economy. The 10-year Treasury yield was marginally higher at 4.346%.

  2. Currency:

    • The U.S. dollar was higher on Thursday. The dollar index, which measures the currency against six major peers, was up 0.52% at 97.887.

  3. Commodities:

    • Gold prices were little changed on Thursday. Spot gold was up 0.1% at $3,317.44 per ounce.

    • Oil prices fell more than 2% on Thursday. Brent crude futures fell 2.21%, to close at $68.64 a barrel.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets traded mixed on Friday early morning trade after U.S. President Donald Trump announced 35% tariffs on Canada starting Aug 1.

  2. Sector Specific Indicators:

    • Japan’s benchmark Nikkei 225 rose 0.1% at the open, while the Topix added 0.21%. South Korea’s Kospi climbed 0.3% and the small-cap Kosdaq rose 0.2%.

India Market Outlook

  1. Market in Previous Session:

    • Indian benchmark indices ended in negative territory on July 10, with the Nifty drifting towards the 25,350 level amid broad-based profit booking on of the weekly F&O expiry session. The index is currently placed around the lower band of the last 6 session consolidation zone on the daily chart as global uncertainties and lack of clarity on the India-US mini trade deal lead to profit booking.

    • The Sensex was down 345.80 points or 0.41% at 83,190.28, and the Nifty was down 121 points or 0.47% at 25,355.25.

    • Barring Metal and Realty, all sectoral indices closed in the negative territory, with Pharma, Telecom, IT, PSU Bank, and FMCG witnessing broad-based pressure, each shedding around 0.5%.

    • The Nifty Midcap and Small-cap indices extended their corrective phase, declining by 0.3% each amid subdued broader market sentiment.

TRADE SETUP FOR JUL 11

  1. Nifty Short-Term Outlook:

    • The index formed a sizable bear candle with a lower high and lower low signaling corrective bias as the index failed to move above the immediate hurdle of 25,600 and closed the session near the lower band of the last five sessions' range 25600-25330.

    • Going forward, a move below the last week's low 25,330, will signal extension of the corrective decline towards the key support area of 25,200-25,000.

    • Key observation on the daily chart is that the index has already taken nine sessions to retrace less than 38.2% of the previous 11 sessions' up move, 24,473-25669. A shallow retracement signals a positive structure and a potential higher bottom formation. We maintain a buy-on-dips strategy from a short-term perspective as long as the index holds above this critical support area of 25,000-25,200.

  2. Intraday Levels:

    • Nifty: Intraday resistance is at 25,380, followed by 25,500 levels. Conversely, downside support is located at 25,210, followed by 25,100.

    • Bank Nifty: Intraday resistance is positioned at 57,050, followed by 57,300, while downside support is found at 56,550, followed by 56,300.

Derivative Market Analysis

  1. Nifty:

    • Nifty continues to face selling pressure at higher levels, with the highest call open interest (OI) placed at 26,500, followed by 25,500, indicating strong resistance zones. 

    • On the downside, the highest put OI is seen at 24,000 and 24,500, suggesting a firm base around those levels. 

    • In the previous session, call writers were active above 25,400, and notably, unwinding was observed at 25,550 — reinforcing the presence of stiff overhead resistance. The 25,500 mark now emerges as a crucial hurdle; sustained trade above this level could trigger a move toward 26,000. 

    • FIIs unwound 5,556 long contracts and added 3,988 fresh short positions in index futures, pulling down the long-to-short ratio to 0.33. 

    • The put-call ratio has edged lower to 0.97, reflecting a slightly cautious sentiment.

  2. Bank Nifty:

    • Bank Nifty is showing signs of weakness, with the highest call and put OI placed at the 56,000 strike, followed by significant activity at 57,000 — establishing these as key pivot levels. 

    • In the last session, aggressive call writing was seen at 57,000 and 57,500, while simultaneous put unwinding at these strikes indicates a bearish undertone. 

    • The 57,000 level remains a critical support; a breach below it could drag the index towards 56,500. On the upside, 57,500 continues to act as a key resistance. 

    • Overall, the broader expected range for Bank Nifty lies between 57,000 and 57,500. The put-call ratio has declined to 0.92, hinting at a tilt towards bearish sentiment.

US Share Market News

  1. Performance Overview:

    • The S&P 500 and Nasdaq notched fresh record closing highs on Thursday, led by chip stocks on signs of ongoing AI-driven demand, overshadowing ongoing tariff uncertainty.

  2. Sector-Specific Index:

    • The Dow Jones Industrial Average rose 190 points, or 0.2%, the S&P 500 gained 0.3% to clinch a fresh closing record of 6,280.39, while the NASDAQ Composite notched a second-straight closing record of 20,630.67. 

    • U.S. futures, however, are currently trading lower after President Donald Trump said Canada will face 35% trade tariffs from next month, ramping up concerns over the impact of his tariff agenda. 

  3. Economic Indicators: 

    • The second quarter earnings season will begin in earnest next week, with a host of major banks, including JPMorgan Chase & Co, Wells Fargo & Company (NYSE:WFC), Citigroup Inc, and Bank of New York Mellon set to report on Tuesday. 

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates and the trade set up for today, in one place to make wise investment decisions.

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