HDB Jumps on Listing, Steel Stocks Rally, SBI Cards Declines
Written by - Fisdom Research
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July 2, 2025
2 minutes
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Market Snapshot
India benchmark indices ended lower in a volatile session, with the Nifty closing below 25,500.
Selling pressure was visible in realty and financial sectors.
The metal index gained 1.4%, while consumer durables rose 1%.
Midcaps outperformed, whereas smallcaps moved in line with the benchmark.
PSU banks, capital goods, realty, media, and power sectors declined between 0.4% to 1.4%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY METAL
1.4
NIFTY PHARMA
0.3
NIFTY CONSUMER DURABLES
1.0
NIFTY IT
0.1
NIFTY HEALTHCARE INDEX
0.3
NIFTY FMCG
-0.1
NIFTY AUTO
0.3
NIFTY OIL & GAS
-0.2
Top News
HDB Financial Services made a strong market debut on July 2, closing nearly 14% higher despite a weak broader market, following an IPO that was subscribed 16.7 times.
Steel stocks surged up to 3.6% after China’s Tangshan mills were ordered to restrict output, pushing Nifty Metal up 1.4% as the top sectoral gainer for the day.
SBI Cards fell nearly 2% after Goldman Sachs downgraded the stock to ‘Neutral’, citing a balanced risk-reward profile and focus on credit costs and loan growth.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
TATASTEEL
3.7
SHRIRAMFIN
-2.9
JSWSTEEL
2.8
HDFCLIFE
-2.6
ASIANPAINT
2.4
INDUSINDBK
-2.5
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