Indian benchmark indices extended losses by mid-day on Tuesday, July 2, as the BSE Sensex fell 168.95 points (0.20%) to 83,528.34, while the NSE Nifty 50 slipped 49.50 points (0.19%) to 25,492.30. Weakness across FMCG, banking, media, oil & gas, and realty stocks kept broader market sentiment under pressure, even as newly listed names such as HDB Financial and Sambhv Steel delivered strong listing gains.
Sector Drag Weighs on Markets
FMCG, media, bank, real estate, and oil & gas sectors led the decline in benchmark indices. Broader selling pressure outweighed positive momentum in selective stocks, keeping indices volatile ahead of global triggers and earnings announcements.
Asian Paints Slides on CCI Probe Triggered by Grasim Complaint
Asian Paints shares dipped 1 per cent after the Competition Commission of India (CCI) opened an investigation into anti-competitive practices following a complaint by Grasim Industries. Grasim alleged restrictive distributor agreements aimed at sidelining its paint brand, Birla Opus.
IndusInd Bank Falls 3 per cent After Goldman Sachs Downgrade
IndusInd Bank stock fell 3 per cent intraday after Goldman Sachs downgraded it to ‘sell’, flagging concerns over its weakening franchise. The brokerage cut its FY26 and FY27 EPS estimates by 25 per cent and 17 per cent respectively, and set a target price of Rs 700.
HDB Financial & Sambhv Steel Soar on Debut
New listings stood out: HDB Financial Services opened with a 13 per cent premium, while Sambhv Steel jumped 34 per cent, continuing the primary market’s strong streak amid weak secondary market sentiment.
Paras Defence Gains on Rs 22-Cr Anti-Drone Deal
Paras Defence rose 2 per cent after CERBAIR, a French UAV defence firm, expressed intent to purchase 30 CHIMERA 200 counter-drone systems from its subsidiary. The potential order is valued at approximately Rs 22 crore.
Gabriel India Hits 20% Upper Circuit for Second Day
Gabriel India shares were locked at a 20 per cent upper circuit for a second session following buzz around a major internal restructuring plan, sparking heavy investor interest.
Stay tuned for closing updates as market sentiment remains cautious, with eyes on global macro cues, earnings, and primary market listings.
