📰 India Business Brief: Top Headlines for July 02, 2025

Business Standard

• Indian IT Stocks Surge on Fed Rate Cut Hopes: Indian IT stocks experienced a significant rally following optimistic signals from the U.S. Federal Reserve regarding potential interest rate cuts. The Nifty IT index climbed 1.8% intraday, with Infosys, Wipro, Mphasis, and TCS leading the gains.
• Markets Cautious Amid US Tariff Deadline: The broader Indian stock market, including the Sensex and Nifty, showed a risk-off sentiment as benchmarks traded cautiously. This was attributed to US President Donald Trump's firm stance on an upcoming tariff deadline. The BSE Sensex closed down 287.6 points, and the NSE Nifty50 fell by 88.45 points.
• FY25 Economic Outlook: The economy in Fiscal Year 2025 is battling challenging times, marked by a decline in investment intensity since FY22. Gross capital formation decelerated to 1.76% in FY25, though growth was partially upheld by a rebound in exports, which are nowcasted to rise by 12.9% after a steep decline in FY24.
• Stocks to Watch: Several stocks were in focus for July 2, including HDB Financial, Asian Paints, Maruti, V-Mart, Lupin, Hero Moto, CLN Energy, Master Trust, SBI Card, Paras Defence, MOIL, and NMDC.
• Healthcare Recognition: Asian Institute of Medical Sciences was honored as the Best Healthcare Brand 2025 by The Economic Times.

Economic Times

• IT Sector Boosted by Fed Remarks: Mirroring reports, Indian IT stocks rallied sharply after the U.S. Federal Reserve indicated possible interest rate reductions, a positive development for IT firms with significant overseas revenues.
• Global Market Snapshot: U.S. stock markets showed varied performance, with the Dow Jones jumping, while the S&P 500 dipped and Nasdaq slid, notably due to Tesla's decline and a surge in casino stocks.
• F&O Ban List: RBL Bank shares were banned from Futures & Options (F&O) trading for July 2, 2025.
• Corporate Developments & Sales:
  • Hyundai Motor India reported total monthly sales of 60,924 units in June 2025, with SUVs contributing 67.6%.
  • Associated Alcohols & Breweries launched its premium blended malt whisky 'Hillfort' in Uttar Pradesh.
  • Wheels India's board approved the acquisition of a 12.51% stake in Axles India.
  • Balaji Amines received consent to begin trial runs for manufacturing ISOPROPYLAMINE.
• Market Movements and Forex:
  • The RBI reduced its short forex derivative book to $65.2 billion.
  • The US dollar's 10% fall in the first half of FY25 marked its worst performance since 1973.
  • The Indian Rupee posted its biggest one-day gain in a month as oil prices dropped to $69.
• Budget 2025 Outlook: The Budget 2025 is seen as a strategic move for growth and stability, focusing on accelerating industrial activity and generating employment.
• Palm Oil Imports Surge: India's palm oil imports in June jumped by 61%, reaching an 11-month high.

Mint

• Jio-BlackRock's Entry into Broking: Zerodha CEO Nithin Kamath welcomed Jio-BlackRock's move into the stock broking business, stating it is "great news" for potentially expanding market participation beyond the current top 10 crore Indian investors.
• Stocks Under ₹100: Experts recommended several shares to buy under ₹100, including Paisalo Digital.
• Market Consolidation: The Indian stock market remained rangebound, with the Nifty Midcap 100 gaining marginally and the Nifty Smallcap 100 experiencing a slight dip, indicating a phase of consolidation.

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