Closing Bell 02 July 2025: Nifty Slides to 25,453, Bank Nifty Falls; IT Leads Amid Trade Deal Hopes
By CapitalKeeper | Closing Bell | Indian Equity | Market Moves That Matter
Market Snapshot – 03 July 2025
| Index | Open | Close | Change |
|---|---|---|---|
| Nifty 50 | 25,505.10 | 25,405.30 | –99.80 pts / –0.39% |
| Bank Nifty | 57,050.00 | 56,791.25 | –259 pts / –0.45% |
| Sensex | 83,540.74 | 83,239.47 | –301.27 pts / –0.36% |
| Fin Nifty | 26,902.95 | 26,734.90 | –168.05 pts / –0.63% |
Markets edged lower after earlier gains as participants weighed trade deal uncertainty, despite fresh optimism rupee hit one-month high around ₹85.3.
🌍 Global & Domestic Cues
- Rupee Strength: Closed at ₹85.31, aided by optimism over a U.S.–India trade agreement .
- Trade Deal Optimism: Mixed while U.S.–Vietnam deal lifted Asian markets, clarity on India pact remained pending.
- Services PMI Hits 10‑Month High: June PMI at 60.4, underscoring strong domestic momentum.
- Profit-Taking Mode: After recent run-up, investors rotated out from banks into defensives and IT .
🏭 Sector Performance
- IT (+1.4%): Outperformed, led by strong global tech momentum .
- Metals & Consumer Durables (+1–1.3%): Tata Steel, UltraTech, Hero MotoCorp saw gains.
- Financials (–0.6%): Bank Nifty dragged by profit booking; PSU names particularly weak .
- Auto, Oil & Gas, Realty, Capital Goods: Declined 0.3–0.8% amid sector rotation .
📉 Technical Outlook
- Nifty 50
- Key support: 25,350–25,400
- Immediate resistance: 25,500–25,550
- Momentum turned neutral-to-bearish; watch RSI slipping toward mid‑40s.
- Bank Nifty
- Support zone: 56,500–56,700
- Resistance: 57,200–57,500
- Correction may offer re-entry opportunities; momentum still constructive.
🔥 5 Trade Ideas for Next Session
| Stock | CMP (₹ approx) | Trade Strategy |
|---|---|---|
| TCS | ₹3,700 | Buy on dip IT outperformance likely to continue |
| Infosys | ₹1,618 | Rebound play near support amid global optimism |
| Tata Steel | ₹165 | Momentum recovery in metals; tight stops |
| Punjab National Bank | ₹110 | Value entry in PSU space on bounce potential |
| Hero MotoCorp | ₹4,310 | Auto strength; ride consumer-demand recovery |
📌 Strategy & Risk Management
- Monitor development on U.S.–India trade talks ahead of 9 July deadline.
- Trade buy-on-dip in IT and cyclical names (metals, consumer) with tight stops.
- Use caution on banks until financials regain clarity; look for value in select PSU plays.
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