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Below the Perspective on Markets 01 July 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital

“Indian benchmark indices ended largely unchanged on Tuesday as investors weighed mixed global cues and awaited clarity on the upcoming U.S. tariff decision. The Sensex edged up 57 points to close at 83,622, while the Nifty settled flat at 25,528.

 Key highlights from the day:

* India’s manufacturing activity remained strong, with the HSBC PMI rising to 58.4 in June—its highest level in 14 months—on the back of export momentum and robust hiring.

* IPO buzz continued: Globe Civil Projects rallied over 26% post listing, Ellenbarrie Industrial Gases hit the upper circuit, while Raymond Realty slipped over 5%.

* Sector-wise, PSU banks saw buying interest, up 0.7%, while realty, FMCG, media, and pharma stocks faced mild pressure.

* Broader markets underperformed the benchmarks, with mid and small-cap indices ending lower by 0.4%.

* The rupee appreciated by 22 paise to close at 85.53 against the U.S. dollar, supported by softer crude prices and a weaker greenback.

 Bottom line:

Caution prevailed ahead of global trade cues, but strong manufacturing data and selective IPO strength helped keep sentiment afloat.

 Focus will remain on U.S.-China trade updates, macro data releases, and early signs from the Q1 earnings season.”

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