PC Jeweller shares fell 8.1% after BSE and NSE placed the stock under the short-term ASM framework, following a sharp rally of 33% in two days. The drop comes despite an 80% YoY revenue surge in Q1FY26 and significant debt reduction. Technical indicators suggest the stock is overheated, though momentum remains strong across key moving averages.
Indian market is expected to consolidate, mirroring mixed global signals. Nifty futures saw slight gains, closing at 25,541, while India VIX experienced a rise. Options data suggests a trading range between 25,000 and 26,000. Experts recommend buying RIL, IOC, CESC, Sun Pharma, Apollo Tyres, Britannia Industries, ICICI Prudential and Voltas, setting specific targets and stop-loss levels for short-term traders.
Shares of AMCs like HDFC AMC, Aditya Birla Sun Life AMC, and Nippon Life India AMC are likely to be in focus after Sebi proposed easing norms governing mutual fund operations. The regulator plans to relax the broad-basing requirement, allowing AMCs to manage non-broad-based pooled funds without a PMS licence, subject to strict regulatory oversight.
Brokerages remain bullish on select Nifty large-cap stocks across sectors, with several companies receiving over 30 buy calls from analysts, according to Trendlyne data. These include blue-chip names such as HDFC Bank, SBI, Reliance Industries, M&M, and Axis Bank, with analysts projecting up to 20% upside from current levels.
Mukul Mahavir Agrawal acquired a 1.27% stake in Jammu & Kashmir Bank during the June 2024 quarter. The bank reported a 9.5% YoY growth in total business in Q1FY26, with deposits up 12% and advances up 5.5%. While Q4 net profit declined due to higher provisions, the board recommended a 215% dividend payout.
In the NSE list of stocks with a market cap over Rs 10,000 crore, six stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 6, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Catastrophic flooding in Texas over the July Fourth weekend has resulted in over 100 deaths, with search-and-rescue teams continuing their efforts to find missing individuals. Camp Mystic, an all-girls summer camp, tragically lost 27 campers and counselors, and authorities are investigating potential warning failures. The disaster has prompted a federal investigation and a visit from President Trump.
President Trump hosted Prime Minister Netanyahu at the White House, discussing a potential Gaza ceasefire and hostage-release deal, while Israeli officials engaged in indirect negotiations with Hamas in Qatar. Netanyahu suggested exploring options for Gazans to relocate to neighboring countries, as the U.S. administration planned talks with Iran and aimed for a "permanent deal.
The Indian rupee weakened to 85.85 against the dollar due to renewed uncertainty over US tariff policies after President Trump threatened a 10% levy on BRICS nations. This announcement deteriorated market sentiment, making the rupee the third worst-performing Asian currency despite likely intervention by the Reserve Bank. Traders anticipate the rupee to fluctuate between 85.50 and 86.
