After opening the day lower, the benchmark indices continued their downward momentum, ended the session in the red.

Indian equity market indices, Sensex and Nifty, settled lower on Wednesday amid a lack of directional cues. As per reports, US President Donald Trump could release a list of seven countries on Thursday, with fresh tariff rates.

At the closing bell, the BSE Sensex closed lower by 176 points (down 0.2%).

Meanwhile, the NSE Nifty closed 46 points lower (down 0.2)

Bajaj Finance, HUL, UltraTech Cement among the top gainers today

HCL Tech, Tata Steel, and Tech Mahindra, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  25,612, higher by 96 points at the time of writing.

The BSE MidCap index ended 0.1% lower, and the BSE SmallCap index ended 0.4% higher.

Sectoral indices were trading mixed today, with stocks in the services sector and the auto sector witnessing buying. Meanwhile, stocks in the realty sector and the oil & gas sector witnessed selling pressure.

The rupee is trading at Rs 85.8 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 96,010 per 10 grams.

Meanwhile, silver prices were trading 0.1% lower at Rs 107,879 per 1 kg.
 

Religare Enterprise Shares Surges on Fund Raise

In the news from finance sector, shares of Religare Enterprise surged after the company announced the planning to raise funds.

On 11 July 2025, the company's board of directors is scheduled to discuss the possibility of obtaining capital through a preferential offering of securities.

Since September 2023, Religare Enterprises has been in the headlines due to a takeover dispute. The management of Dabur Group, rejected the Burman family's open offer to purchase a 26% stake, arguing that the offer price of Rs 235 per share was too low.

The Religare board questioned if the Burman family met regulatory requirements, but the family argued they did, citing their successful operations in insurance and finance. Following an 18-month battle, the Burman family became the promoters of Religare Enterprises and acquired control of the company in February 2025.

Burman Group will collaborate with Religare's leadership and board to strengthen its strategy and drive long term growth.
 

Bajel Projects Gains on Growth Plans

Moving on to the news from engineering sector, shares of Bajel Projects rose 5% on Tuesday after the company announces the capacity addition at Ranjangaon facility.

The company invested Rs 1.7 billion (bn) with internal accruals and debt to increase the capacity of its Ranjangaon facility from 40,500 million tons (MT) annually to 1,10,000 MT annually.

The capacity increase will be carried out in phases from Q4FY26 to Q4FY27 to fulfil captive demand and sales in both domestic and international markets.

On 2 July 2025, the company secured huge power order worth between Rs 3 bn to Rs 4 bn for a crucial 400kV transmission line project.

A major private operator in the energy and power transmission industry placed a sizable order with the company in June, worth between Rs 1 bn to Rs 2 bn.

Power Grid Corporation of India awarded Bajel Projects an EPC contract worth Rs 4 bn for transmission line and substation projects in Madhya Pradesh.

Pharma Stocks Rise Despite Trump Tariff

Moving on to the news from pharma sector, despite US President Trump threat to impose a 200% tariff on pharmaceutical, Indian Pharma stocks are trading higher on Tuesday.

US President Donald Trump offered businesses a grace period of one to one and a half years to move their operations to the US before threatening to levy a 200% tariff on pharmaceutical imports. Indian pharmaceutical stocks increased despite this, with the Nifty Pharma index up 0.4% to 22,252.5. Lupin, Biocon, Aurobindo Pharma, and Laurus Labs were the top gainers, with shares up by 1.5%.

Indian pharma companies that heavily rely on exporting generic drugs to the US will likely face significant challenges due to proposed tariff.

If these Indian pharmaceutical players are unable to hike their costs or move production to the US, they might stop manufacturing, which might lead to a shortage of drugs in the US. Since generic medications have minimal profit margins, Indian manufacturers may cease production if prices cannot be raised. This would have a big effect on the US market, which depends largely on Indian generics.

The Nifty Pharma index has gained only about 0.6 percent so far in July. Due to worries about heavy tariffs, the index was down about 5.5 percent in trade so far this year.

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