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Stocks in News

* NCC: The company secured two orders worth Rs.792 crore in July, with Rs.461.39 crore allocated to the Buildings Division and Rs.330.15 crore to the Electrical Division.

* NUVAMA: The company confirmed an Income Tax Department survey at its premises, assured full cooperation, and stated that business operations remain unaffected.

* NBCC: The company signed a Rs.45.3 crore agreement with Madhya Pradesh Gramin Bank to develop a modern institutional campus in Indore and entered a pact with the India Post Department for developing land parcels across India.

* MANKIND PHARMA: The company approved the acquisition of the Women’s Health Branded Generic Business from its subsidiary, Bharat Serums and Vaccines Ltd., through a slump sale on a going concern basis for a lump sum amount.

* CANTABIL RETAIL: The company opened seven new showrooms, taking its total showroom count to 614.

* MEDPLUS: The company’s health arm received two suspension orders for a drug license at a store in Telangana.

* DODLA DAIRY: The company completed the 100% acquisition of HR Food Processing for Rs.5.2 crore.

* INDIAN BANK: The company reduced its TBLR by 5 bps to 5.35% for loans up to three months, while raising it by 5 bps to 5.55% for loans ranging from six months to three years.

* GUJARAT GAS: The company partnered with Waaree Energy to develop sustainable energy solutions and reduce carbon emissions.

Economic News

* Sugar output expected to rise 18% in FY26: India anticipates a significant boost in sugar production for the 2025-26 season. The Indian Sugar Mills Association projects an 18% increase. This rise to 349 lakh tonnes should ease current supply constraints. Improved rainfall is credited for enhanced cane productivity. Experts believe this will stabilize prices during the festival season.

Global News

* China’s factory slump deepens as weak demand and export pressure push policymakers toward consumer-driven reforms: China’s manufacturing activity contracted for the fourth consecutive month in July, with the official PMI falling to 49.3 from 49.7 in June — the lowest since April and below the 50-mark that signals growth. This reflects fading export momentum following earlier tariff-driven demand and continued sluggish domestic consumption. New orders turned negative, export orders contracted for the 15th straight month, and employment remained weak as companies cut costs. Although output prices rose, suggesting attempts to counter price wars, structural challenges persist — including overcapacity, a prolonged property market slump, and tepid household demand. Despite a Q2 GDP growth of 5.2% and IMF raising the full-year forecast to 4.8%, concerns remain. In response, China’s leadership has pledged to curb disorderly competition, support foreign trade firms with better financing, and shift toward consumption-led growth. Measures like a new childcare subsidy of 3,600 yuan annually until age three mark early steps toward this transition. Analysts stress the need for sustained reforms to reduce dependence on exports and stimulate domestic demand for long-term economic stability.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24768.35 (-0.35%)

TRADING ZONE:

Resistance : 24950 (Pivot Level) and 25100 (Key Resistance).

Support: 24700 (Pivot Level) and 24600 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 57400.55 (-0.93%), SMALLCAP 250: 17966.85 (-1.05%)

VIEW: Bearish till Below 25100 (Key Resistance).

BANKNIFTY SPOT: 55961.95 (-0.34%)

TRADING ZONE:

Resistance: 56500 (Pivot Level) / 57000 (Key Resistance)

Support: 55700 (Pivot Level) / 55500 (Key Support).

VIEW: Bearish till below 56500 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.55% on Thursday ended at 5.05%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3735% on Thursday Vs 6.37% on Wednesday.

Global Debt Market:

U.S. Treasury yields were lower on Thursday as investors awaited the personal consumption expenditures index for June — the Federal Reserve’s preferred inflation gauge. The 10-year Treasury yield dipped 2.4 basis point to 4.354%. The 2-year yield was little changed at 3.941%, and the 30-year bond yield shed over 3 basis points to 4.88%. One basis point is equal to 0.01% and yields and prices move in opposite directions. Investors are keenly awaiting the Fed’s favored inflation print on Thursday, due to be released at 8:30 a.m. ET, and will offer fresh insights into the impacts of tariffs on the economy. Economists polled by Dow Jones forecast headline PCE rising 2.5% on a yearly basis and 0.3% on a monthly basis. That comes after the Fed held rates steady at a range of between 4.25% and 4.5%, in a widely expected move on Wednesday. However, not all Fed members were happy with the decision. Fed officials Michelle Bowman and Christopher Waller disagreed with the move to keep the interest rate unchanged. Fed Chair Jerome Powell said policymakers will wait to make sure the tariffs don’t turn into “serious inflation” at his press conference after the meeting. “We have made no decisions about September,” Powell said regarding the next rate decision. “We don’t do that in advance.” He added: “We’ll be taking that information into consideration and all the other information we get as we make our decision.” On the tariff front, investors are watching as the Aug. 1 deadline approaches, which is when President Donald Trump’s reciprocal tariff pause will end. The U.S. has only made eight deals in 120 days. Weekly jobless claims are also due on Thursday

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.36% to 6.3775% level on Friday

SEBI Registration number is INH000000081.

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