Indian benchmark indices snapped their four-day winning streak on Tuesday, July 7, as investors turned cautious and booked profits amid renewed geopolitical tensions. The Sensex fell 104 points, or 0.13%, to end at 78,180.72, while the Nifty 50 shed 32 points, or 0.13%, to close at 24,398.70. According to latest reports, Gift Nifty was trading near the 24,235 mark, down over 205 points from the previous close of Nifty futures, signalling a negative start for Wednesday's session. The market weakness was triggered by fresh US strikes on Iran that reignited geopolitical tensions following attacks on commercial vessels in the Strait of Hormuz. As per Ponmudi R, CEO of Enrich Money, the renewed escalation has revived concerns over regional stability and global energy supplies, which could dampen investor sentiment and lead to profit booking after the recent rally.
Titan Company Ltd. share price surged nearly 4% by midday after the company reported a robust business update for the June quarter, with domestic operations registering 37% year-on-year growth. The jewellery business expanded 39%, led by strong demand across Tanishq, Mia, Zoya, beYon and CaratLane, while the watches and eyewear businesses grew 23% each. The company's international business recorded 128% growth, and consumer businesses advanced 41% during the quarter. Trent Ltd. share price tumbled nearly 12% by midday after the retailer's June quarter business update failed to meet market expectations despite reporting 19% year-on-year growth in standalone revenue. The company expanded its network to 1,312 stores by adding one Westside outlet and 19 Zudio stores during the quarter, but analysts pointed to slower revenue growth than expected and continued weakness in revenue per square foot.
Cochin Shipyard shares declined over 4% by midday after the government announced an Offer for Sale (OFS) of up to 5% stake in the PSU shipbuilder. However, the OFS witnessed strong investor demand on the first day of bidding on Tuesday, with the issue being subscribed 3.52 times, according to the Secretary of the Department of Investment and Public Asset Management (DIPAM). The offer opens for institutional investors on July 7 and for retail investors on July 8, with a floor price of ₹1,400 per share, representing a discount to the previous closing price. Poonwalla Fincorp approved the issuance of unsecured, redeemable, rated, listed, subordinated non-convertible debentures (NCDs) worth up to ₹200 crore via a private placement, with the NCDs qualifying as Tier II capital. Premier Energies announced it secured orders worth ₹3,011 crore in the quarter ended June 30, 2026, for the supply of solar cells and modules from a diverse set of customers including power producers and module manufacturers.
ideaForge Technology launched a qualified institutional placement (QIP) to raise up to ₹500 crore, fixing the indicative issue price at ₹795 per equity share, representing a 5.4% discount to the NSE closing price as of July 7. The drone manufacturer's fundraising comes as part of its expansion plans. Blue Jet Healthcare share price gained over 4% by midday after the pharmaceutical company launched its qualified institutional placement (QIP) to raise funds from institutional investors, with the board fixing the floor price at ₹531.70 per equity share and the issue eligible for a discount of up to 5%. The company had earlier indicated plans to mobilise up to ₹1,000 crore through QIP and preferential allotments. Apollo Micro Systems board approved a fundraise of up to ₹3,322 crore through a preferential issue of equity shares and convertible warrants.
HCL Technologies completed its acquisition of Jaspersoft, integrating the embedded analytics and reporting platform into Actin, its data and artificial intelligence division. Ceigall India announced it has received the appointed dates for three highway projects worth a combined ₹4,050 crore, with construction work now able to begin on road infrastructure projects located in Jharkhand and Madhya Pradesh. Glenmark Pharmaceuticals announced the launch of the generic version of Olanzapine for Injection in the US, a medication used to treat schizophrenia and bipolar disorder. Silver Touch Technologies won a contract from RITES Ltd to design, develop, and implement PARAKH, an AI-powered platform for detailed project report appraisal and intelligence. The Nifty has further strengthened its bullish structure by surpassing the crucial hurdle of the 200-day EMA around the 24,421 mark, with analysts noting that the index now appears well-positioned to inch towards the 24,600 level, which coincides with the previous swing high, and a decisive breakout above this zone could open the door for a move towards the 25,000 mark.
