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Stocks in News

* COSMO FIRST: Zigly, the pet care division of the company, has acquired Bengaluru-based Santa Animal Healthcare to accelerate the growth of its veterinary services. The full acquisition is expected to be completed within 36 months.

* PCBL CHEMICAL: The company has incorporated a new subsidiary, PCBL Chemical USA, by subscribing to 1,000 equity shares worth $1,000, aiming to strengthen its global presence with direct access to North American markets.

* PNC INFRATECH: The company emerged as one of the lowest bidders in an NHPC tender worth Rs.2,956 crore and secured a 300 MW ISTS Solar Power Project, which includes a 150 MW energy storage system.

* HG INFRA ENGINEERING: The company has acquired Angul Sundargarh Transmission, strengthening its organic and inorganic growth opportunities.

* UNITED SPRITIS: Diageo Scotland identified a pricing shortfall in certain bulk scotch supplies but confirmed it won’t charge the company. However, the company is voluntarily making payments of up to Rs.125 crore.

* ONGC: The company has signed an agreement with BP Exploration and RIL for an offshore block in the Saurashtra Basin.

*  ASTER DM HEALTHCARE: The Ministry of Corporate Affairs has approved the incorporation of Aster DM's wholly owned subsidiary in Bengaluru.

* LUMAX AUTO: NCLT has approved the amalgamation of Lumax Ancillary with Lumax Auto.

* MUTHOOT FINANCE: The company appointed Thomas Kokkoth as Chief Risk Officer effective August 6 and reappointed Alexander George as Whole-Time Director for five years.

Economic News

* Price of Gobindobhog rice doubles amid low supply & rising demand from South India, Middle East: Geographical Indication tagged Gobindobhog rice prices have doubled due to a demand-supply mismatch, surging from Rs 90 to Rs 180 per kg. Increased demand from South India and the Middle East, coupled with a 40% drop in last year's Kharif crop yield, has fueled the price hike. Prices of other rice varieties like Sona Masoori are also rising.

Global News

* BOJ holds rates steady but hints at year-end hike as trade outlook improves: The Bank of Japan is expected to keep interest rates steady at 0.5% in its upcoming policy meeting but may adopt a more optimistic outlook following Japan’s recent trade deal with the U.S. and easing global trade tensions. While uncertainties around U.S. tariffs persist, BOJ officials, including Deputy Governor Shinichi Uchida, acknowledge reduced risks to Japan’s export-driven economy. Markets are watching Governor Ueda’s commentary and the BOJ’s quarterly report for hints on future rate hikes, which many economists expect by year-end. The central bank may revise its inflation forecast upward due to rising food prices and offer a less downbeat economic view. The BOJ still expects inflation to sustainably reach its 2% target by fiscal 2027, with core inflation projected at 2.2% in FY25. The recent trade agreement easing U.S. tariffs on Japanese goods, especially autos, has improved the outlook, supporting the case for potential rate hikes after last year’s policy normalization.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24680.9 (-0.63%)

TRADING ZONE:

Resistance : 25000 (Pivot Level) and 25200 (Key Resistance).

Support: 24600 (Pivot Level) and 24500 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 57519.35 (-0.84%), SMALLCAP 250: 18064.75 (-1.26%)

VIEW: Bearish till Below 25000 (Key Resistance).

BANKNIFTY SPOT: 56084.9 (-0.79%)

TRADING ZONE:

Resistance: 56800 (Pivot Level) / 57200 (Key Resistance)

Support: 55700 (Pivot Level) / 55300 (Key Support).

VIEW: Bearish till below 56800 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.40% on Monday ended at 5.00%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.37% on Monday Vs 6.3505% on Friday .

Global Debt Market:

U.S. Treasury yields were lower on Monday as investors anticipated the Federal Reserve's interest rate decision later this week, as well as a key inflation reading, which will shed light on the impact of tariffs on the economy. The 10-year Treasury yield was down just over one basis point to 4.371%. The 2-year yield was less than 1 basis point lower to 3.912%, while the 30-year yield fell one basis point to 4.911%. It's a busy week ahead for investors, with the Fed set to have its two-day policy meeting, concluding on Wednesday, when the interest rate decision will be announced. Traders are pricing in a 97% chance that interest rates will be held steady at their current target range of 4.25% to 4.5%, according to the CME FedWatch Tool. They will also look for clues on whether rate cuts will be coming later in the year. The personal consumption expenditures index the Fed's preferred inflation gauge is due on Thursday and will reveal the effects of tariffs on inflation. The report is forecast to show inflation increasing to 2.4% from 2.3% year over year, according to FactSet, and to 0.31% from 0.14%, on a monthly basis. Other economic data coming out this week includes the Job Openings and Labor Turnover Survey on Tuesday, ADP's private payrolls report on Wednesday, weekly initial jobless claims on Thursday, and July's jobs report on Friday. On the tariff front, the U.S. and European Union announced Sunday that they've reached a trade agreement which includes 15% tariffs on EU goods imported to the U.S. That's down from the 30% levy that the EU would have been hit with on the approaching Aug. 1 deadline.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3650% to 6.3725% level on Tuesday

SEBI Registration number is INH000000081.

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