Quote on Market Wrap 04 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 04 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Global equity markets were broadly strong, led by strong performance of the US market over the past week. The US markets were buoyed by (1) stronger-than-expected NFP reports, (2) passing of the GOP’s “One Big Beautiful Bill” and (3) a trade deal with Vietnam, while trade negotiations with other major economies remained in limbo. Domestic sentiments were mixed, with the Nifty-50 Index and Senex marginally down over the past week, with markets awaiting for (1) the outcome of India-US trade negotiations and (2) Q1FY26 earnings prints. Healthcare (+2%), consumer durable (+2.6%) and oil & gas (+1.5%) were the top gainers, while realty (-2.5%), banks (-1.4%) and FMCG (-0.7%) delivered a large underperformance relative to the broader indices. On the macro front, GST collections for May 2025 moderated to +6.2% yoy after reporting strong prints over March-April 2025. Both FIIs and DIIs were net buyers during the week.
In Global, the United States economy has added 147,000 jobs in June, beating analyst expectations, as the labour market remains stable despite economic uncertainty driven by President Donald Trump’s policies. Also the House of Representatives on Thursday passed President Donald Trump’s massive tax-and-spending bill, delivering him a major political victory and teeing him up to enshrine much of his sweeping domestic agenda into law. Donald Trump’s sweeping tax and spending package could bolster the U.S. Space Force’s budget. Apple iPhone sales in China rose in the second quarter of the year for the first time in two years.
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