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Stocks in News

* LUPIN: The company clarified it has not received any communication from the US government regarding price reductions and is unaware of any undisclosed information.

* GRANULES INDIA: The US FDA conducted a Pre-Approval Inspection at the company's Hyderabad facility from July 28 to August 1 and issued a Form 483 with one observation, which the company plans to address.

* JASH ENGINEERING: Shivpad Engineers, a subsidiary of the firm, has started commercial production at its new Kanchipuram plant. Deep Industries received a Letter of Award worth Rs 96.7 crore from Oil India.

* REFEX INDUSTRIES: The firm secured a Rs 50 crore order from NTPC for pond ash transportation and unloading. Torrent Pharma’s Andhra Pradesh plant cleared a US FDA inspection with zero observations.

* NIBE: The company secured a Rs 6.1 crore order from Elbit Systems for manufacturing and supplying GATR 70mm guided rockets. Enviro Infra Engineers filed Rs 6.24 crore arbitration claims against the Karnataka Urban Water Supply and Drainage Board.

* MAN INDUSTRIRES: The company approved the allotment of 12 lakh convertible warrants to promoter group entity Man Finance on a preferential basis.

* AMBUJA CEMENT: The board approved the allotment of 87 lakh shares to eligible shareholders of Adani Cementation.

* DILIP BUILDCON: MPIDC has issued a letter of allotment for leasing 45.13 acres of land in Madhya Pradesh for 99 years.

Economic News

* PM Modi defiant as Trump steps up pressure on India’s Russia oil purchases: Narendra Modi government faces Donald Trump's tariff threats. Modi urges citizens to buy local goods. India continues Russian oil purchases despite US pressure. The US criticizes India's ties with Russia and BRICS membership. India defends its relationship with Russia, emphasizing its independence. Trade negotiations with the US are expected. India prioritizes its farmers and industries amid global economic uncertainty

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: 24565.35 (-0.82%)

TRADING ZONE:

Resistance : 24800 (Pivot Level) and 24950 (Key Resistance).

Support: 24500 (Pivot Level) and 24400 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 56637.15 (-1.33%), SMALLCAP 250: 17668.2 (-1.66%)

VIEW: Bearish till Below 24950 (Key Resistance).

BANKNIFTY SPOT: 55617.6 (-0.62%)

TRADING ZONE:

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

Support: 55300 (Pivot Level) / 55000 (Key Support).

VIEW: Bearish till below 56500 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85% - 5.55% on Friday ended at 4.95%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3680% on Friday Vs 6.3735% on Thursday.

Global Debt Market:

U.S. Treasury yields were higher on Friday as investors awaited a key payrolls report and monitored trade news after President Donald Trump announced a raft of new levies. At 6:42 a.m. ET, the 10-year Treasury yield was up over 3 basis points at 4.396%. The 2-year yield was little changed at 3.953%, and the 30-year bond yield was nearly 5 basis points higher at 4.934%. Investors are awaiting the nonfarm payrolls report for July on Friday, set to be published in the morning, and will offer insights into the number of employed workers in the U.S. economy. It is forecast to show a slowing labor market, with a 100,000 increase in payrolls and the unemployment rate to increase to 4.2%, according to Dow Jones. Investors are also monitoring trade news after Trump rejigged tariff rates ahead of his self-imposed Aug. 1 deadline, when the pause on “reciprocal” tariffs would have lifted. Trump signed an executive order hours before the deadline and issued updated tariffs ranging from 10% to 41%, but they will go into effect only on Aug. 7. In a phone interview with NBC News after the announcement, Trump said he’s open to negotiations, but it was “too late” for other nations to avoid tariffs set to kick in next week. “It doesn’t mean that somebody doesn’t come along in four weeks and say we can make some kind of a deal,” he added.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3575% to 6.3675% level on Monday.

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer