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
Indian markets closed lower on 2 July 2025, with Nifty at 25,453, Bank Nifty down 500 pts. Financials lagged despite US–India trade deal optimism; IT outperformed. Read sector breakdown, global cues, technical levels, and 5 trade ideas for next session.
📊 Market Snapshot – 02 July 2025
| Index | Open | Close | Change |
|---|---|---|---|
| Nifty 50 | 25,588.30 | 25,453.40 | –134.90 pts (–0.53%) |
| Bank Nifty | 57,558.20 | 56,999.20 | –559 pts (–0.97%) |
| Sensex | 83,790.72 | 83,409.69 | –381 pts (–0.45%) |
| Fin Nifty | 27,157.20 | 26,861.70 | –295.5 pts (–1.09%) |
- Nifty and Sensex ended lower, weighed by financial sector weakness.
- Bank Nifty dropped 1%, as IndusInd, HDFC Bank, SBI Card fell post-downgrades and sector-wide profit-taking.
- Eleven of thirteen sectors declined, while IT outperformed with a healthy 1.4% gain on trade deal optimism.
🌍 Global & Domestic Cues
- U.S.–India Trade Deal Optimism: President Trump signaled a potential agreement, increasing hopes that tariffs due July 9 may be avoided.
- Rupee and Dollar: USD/INR held firm near ₹85.7; broader currency movement muted.
- Global Markets: Asian markets were mixed; tech-linked IT outperformed amid global equity resilience .
- IT Sector Led: With firms gaining 1.4%, IT emerged as the best performing sector in today’s session.
🏭 Sectoral Performance
- Primary Laggers: Financials (–1%) and PSU Banks under pressure.
- IT outperformance: Infosys, TCS, HCL Tech rallying on global cues.
- Realty, Capital Goods, Media, Oil & Gas: All ended in red (–0.4% to –1.4%).
- Metals (+1.3%) and Consumer Durables (+1%) bucked trend—Tata Steel, JSW Steel, UltraTech, Hero MotoCorp leading gains.
📉 Technical Outlook
- Nifty 50
- Daily range noted 25,450–25,650.
- Key support around 25,400, resistance at 25,550–25,600.
- Momentum neutral to slightly bearish; RSI trending lower.
- Bank Nifty
- Support at 56,800–57,000, resistance near 57,500.
- Drop may present a short-term buying opportunity if global tailwinds persist.
🔥 Top 5 Trade Ideas for Monday
| Stock | CMP (₹ approx) | Trade Rationale |
|---|---|---|
| TCS | ₹3,423 | Trade-resilient IT bounce; buy near support |
| Infosys | ₹1,610 | Global demand optimism; technical support zone |
| Punjab National Bank | ₹113 | PSU bank beaten down; value rebound play |
| Tata Steel | ₹165 | Metal strength on global themes; momentum entry |
| Maruti Suzuki | ₹12,622 | Auto segment bounce; cyclical recovery signal |
📌 Strategy & Risk Management
- IT stocks remain tactical defensive plays, buy on dips near technical support.
- Watch financials for stabilization—key to next up-leg.
- Trade ranges: Nifty in 25,400–25,600 zone; Bank Nifty around 57k—trade with tight stops.
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