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

Indian equity markets indices, Sensex and Nifty, settled lower on Thursday as investors await clarity on US President Donald Trump's tariff policies, and June quarter (Q1FY26) earnings back home.

At the closing bell, the BSE Sensex closed lower by 345 points (down 0.4%).

Meanwhile, the NSE Nifty closed 120 points lower (down 0.4)

Maruti Suzuki, Tata Steel, and Band Ajaj Finance are 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 0.1% higher.

Sectoral indices were trading mixed today, with stocks in the metal sector and the realty sector witnessing buying. Meanwhile, stocks in the media sector and the telecommunications sector witnessed selling pressure.

The rupee is trading at Rs 85.5 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 96,78 per 10 grams.

Meanwhile, silver prices were trading 0.7% higher at Rs 108,046 per 1 kg.
 

IDBI Bank Sale Concludes by October

In the news from banking sector, the government aims to complete the IDBI Bank sale by October, with financial bids expected soon, marking the final stage of the disinvestment process.

The conditions of a share sale are described in a share purchase agreement. It covers important details like management transition and regulatory approvals for IDBI Bank's disinvestment. Final approvals from high-level government panels have been made possible by a recent meeting.

A 60.72% share in IDBI Bank is being sold jointly by the government and LIC. Although LIC currently owns 49.24% and the government owns 30.48% of the bank, the bank was reclassified as a private sector bank in 2019 after LIC purchased a stake.

One of the main elements of the Center's privatisation agenda has been the sale of IDBI Bank's stake. Regulatory vetting, compliance, and changing market conditions have caused delays in the process, but it is now close to completion.

The sale of IDBI Bank, if completed by October, would be the first significant bank privatisation and would establish a standard for subsequent stake sales in public sector banks. The sale is viewed as a trial run for the government's larger goals of reducing its involvement in the banking industry.
 

IREDA Gets Government Nods for Bonds

Moving on to the news from finance sector, shares of Indian Renewable Energy Development Agency Ltd. (IREDA), will be on focus after it received approval by the government to raise money through 54EC bonds, or capital gains bonds.

With this approval, IREDA joins REC, PFC, NHAI, HUDCO, and IRFC as the sixth state-run company authorised to issue such bonds.

Only renewable projects that can pay off the debt with project revenues and are not dependent on state governments to do so can be supported by IREDA with the funds raised through these bonds.

UTI AMC Shares Hit Record High Today

Moving on to the news from finance sector, UTI AMC shares surged more than 6% to a record high of Rs 1,427.9 following the company's announcement of a dividend payout and its upcoming AGM, demonstrating solid financials and encouraging investor confidence.

The board of UTI AMC suggested a final dividend of Rs 48 per share for FY2025, payout on the face value of Rs 10 and include a Rs 26 regular dividend and a Rs 22 special dividend.

At the next AGM, shareholders must approve the dividend payout. The dividend will be paid to eligible shareholders upon approval; the record date is 24 July 2025.
 

Syrma SGS Surges 5% on PCB Plan

Moving on to the news from electronics sector, Syrma SGS shares jumped over 5% to hit a 52-week high of ?682.70 after the company confirmed plans to build India's largest PCB and CCL facility, marking an 11% gain in two days.

Because it supports the government's Make in India initiative and self-reliance in vital technological components, the development strengthens Syrma SGS's position in India's electronic manufacturing ecosystem.

Syrma SGS will invest Rs 180 bn in Andhra Pradesh to build a PCB and CCL facility with South Korean partner Shinhyup Electronics. This will boost India's high-end electronics manufacturing capabilities.

Syrma SGS signed a Non-Disclosure Agreement with Shinhyup Electronics on 24 December 2024, followed by a Non-Binding MoU on 16 January 2025, marking the start of their partnership for the PCB project.

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