The domestic equity benchmarks took a hit today as rising tensions in the Middle East spooked investors. The Nifty closed below the 25,000 mark, dragged down by IT, auto, and FMCG stocks. Brent crude prices edged higher on concerns over potential disruption in the Strait of Hormuz, adding to the nervous energy in the markets.

The S&P BSE Sensex, tanked 511.38 points or 0.62% to 81,896.79. The Nifty 50 index slipped 140.05 points or 0.56% to 24,971.90.

Infosys (down 2.29%), Larsen & Toubro (down 2.11%) and HDFC Bank (down 0.91%) were major drags.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index added 0.57%.

The market breadth was negative. On the BSE, 1,862 shares rose and 2,195 shares fell. A total of 183 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.74% to 14.05.

Economy:

The HSBC Flash India Composite Output Index, which tracks month-on-month changes in combined output from manufacturing and services, rose to 61.0 in June from 59.3 in May - the highest in 14 months and well above the long-term average.

Manufacturing led the growth, with the Manufacturing PMI Output Index climbing to 61.5 in June from 60.3 in May. The overall Manufacturing PMI rose to 58.4, its best level since April 2024, signalling improved operating conditions.

The HSBC Flash India Services PMI Business Activity jumped to 60.7 from 58.8, showing a strong uptick in service sector growth.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.17% to 6.305 from the previous close of 6.310.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.7800 compared with its close of 86.5550 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.19% to Rs 99,293.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.56% to 99.26.

The United States 10-year bond yield added 0.27% to 4.387.

In the commodities market, Brent crude for August 2025 settlement rose 56 cents or 0.73% to $77.57 a barrel.

Global Markets:

Shares in Europe and Asia declined on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict.

On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from May's 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0.

Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Fed's next move on rates.

Stocks in Spotlight:

Zee Entertainment Enterprises (ZEEL) surged 12.45% after the company released a detailed strategic business update outlining its plans for consolidation, capital infusion, and digital growth.

Shares of Aditya Birla Lifestyle Brands (ABLB) were listed on the BSE and NSE today, 23 June 2025, following its demerger from Aditya Birla Fashion & Retail (ABFRL). The stock listed at Rs 167 on the NSE, lower than the discovered price of Rs 170.95, and at Rs 167.75 on the BSE, versus a discovered price of Rs 172.15.

Northern Arc Capital rose 8.29% to Rs 225.45 after ace investor Madhusudan Kela's fund Cohesion MK Best Ideas Sub-Trust acquired 0.62% stake of the firm via block deals on 20 June 2025.

Ideaforge Technology hit an upper limit of 10% after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence.

Zen Technologies hit an upper limit of 5% after the company's board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA.

Solar Industries India shed 0.52%. The company said that its wholly owned subsidiary, Solar Defence & Aerospace has signed contract with Ministry of Defence, Government of India, to supply defence products.

Waaree Renewable Technologies rose 0.29%. The company announced that it has signed a non-binding memorandum of understanding (MoU) with Viet Khanh Joint Stock Company for the execution of engineering, procurement, and construction (EPC) work for a solar power project.

Bharat Electronics (BEL) advanced 3.15% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025.

Godrej Properties fell 1.19%. The company announced that it had sold inventory worth over Rs 2,000 crore during the launch of the first phase of its residential project, Barca @ Godrej MSR City, located in Devanahalli, North Bengaluru.

Nitco jumped 2.04% after the company announced that it has received a fresh letter of intent (LoI) from Prestige Estates Projects for an additional tile supply order worth approximately Rs 45 crore.

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