Indian Stock Market News | BSE/NSE Sensex Updates | Equity Market Highlights

Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

July 21, 2025

Daily Morning Report Date: 21.07.2025
NIFTY OUTLOOK: 24968.40 FII: 374.74 cr DII: 2103.51 cr
(21st – 25th July 2025)
As discussed in the previous report dated 14th July 2025, market behaviour remained on expected lines during the past week as continuous downward movement dragged Nifty down to 24918.65.
Further, three consecutive bearish candles on the weekly chart indicate strong selling pressure, suggesting that buyers are losing control and the uptrend may be ending. If Nifty continues its southward journey and breaks decisively below 24825–24751, it may slip to 24687–24547. If supply pressure increases, it may test 24406.
On the upside, the recent swing high of 25255 may act as immediate resistance. A breakout and sustained move above this could push Nifty to 25390–25533. A minor resistance is also seen at 25108 between the range of 24968 to 25255.
Bank Nifty OUTLOOK:
SPOT: 56283.00 PCR: 0.72 Max CE OI at 57000 & Max PE OI at 56000
On 21st July 2025, the Bank Nifty index closed at 56283.00, down 0.96% from the previous day's close. The total movement during the session was 500.30 points. The index made a high of 56705.15 and a low of 56204.85.
Technical View on Daily Chart:
The important support and resistance levels are at 55900 and 56600, respectively.
Intraday Technical Strategy for Bank Nifty
Go long above 56420 with a stop loss of 56370 and a target of 56560.
Go short below 56145 with a stop loss of 56190 and a target of 56007.
The Relative Strength Index (RSI) stands at 45.30. (Below 30 is oversold; above 70 is overbought.)
Bank Nifty Day SMA Analysis:
Bank Nifty is trading above 4 of 8 SMAs (50, 100, 150, 200-day) and below 4 SMAs (5, 10, 20, 30-day).
No active candlestick pattern was identified in Bank Nifty.
Macros.
1. Dollar index @ 98.175
2. S&P Vix @ 16.41
3. Brent crude @ 69.40
4. US 10 years bond yield @ 4.42
Note: Mr. Trump has been pushing for a 15–20% tariff on the European Union, effective from 1st April 2025.
US equities remained flat as a barrage of Q2 earnings is due this week. Two of the 'Magnificent Seven' will report on Wednesday, likely offering cues for broader market direction. Alphabet’s results are also expected to provide insights into the AI trade.
Focus now shifts to how Trump’s tariffs are impacting corporate earnings and forward guidance. Wall Street indices lost ground on Friday amid ongoing concerns over these tariffs. A report indicated that Trump may still impose a 15–20% levy on the EU, even if a trade deal is reached. The EU, in turn, is considering a 10% duty.
In India, the earnings season has begun on a weak note, with disappointing results from Axis Bank and TCS weighing on sentiment.
Conclusion: Positions should be kept light. HDFC Bank’s results missed expectations with deteriorating asset quality, and Reliance Industries also posted weak numbers. So far, earnings have been lackluster. A wait-and-watch approach is advised.
Contributed by
Ashok bhandari : INH000019549
-------------------------------------xxxxxxx-------------------------------------------------------------------xxxxxxx---------------------------------
FORTIS HEALTHCARE: Court Approves Sale of SRL Trademarks for ₹8 Cr
Delhi High Court approved sale of SRL trademarks to Agilus Diagnostics (Fortis subsidiary) for ₹8 crore via public auction.
@beatthestreet10
MOTILAL OSWAL ON JSW STEEL
Target price ₹1,200 vs ₹1,180 earlier (maintaining Buy)
In-line operating performance outlook bright
Consolidated revenue of ₹43,200cr (flat YoY and -4% QoQ), in line with estimate as healthy NSR was offset by weak QoQ volume growth
Steel sales volumes stood at 6.69mt (+9% YoY and -11% QoQ), impacted by planned shutdowns at Dolvi and BPSL
EBITDA stood in line with estimate at ₹7,589cr (+38% YoY and +19% QoQ), driven by better NSR and lower coking coal costs
EBITDA/t improved to ₹11,324/t in Q1FY26, up 26% YoY and 33% QoQ (vs estimate of ₹10,440/t)
APAT stood at ₹2,180cr (+159% YoY and +43% QoQ), aided by improved operating profitability
Consolidated crude steel production stood at 7.26mt (+14% YoY and -5% QoQ), impacted by planned maintenance shutdowns
Expect double-digit revenue growth in FY26/FY27 driven by capacity ramp-up and price recovery
EBITDA margin likely to rebound to 18-19% in FY26/FY27 on back of domestic steel price recovery led by safeguard duty
@beatthestreet10
HSBC on RIL
Buy, TP Rs 1630
Earnings supported by “one time sale of shares”, but operationally a bit light on lower O2C & retail
UBR led Air Fibre is picking up, retail is in its last leg of turning around & co is gearing up to launch new energy
@beatthestreet10
Macquarie on Bandhan BK
O-P, TP Rs 210
1Q: PAT miss driven by higher credit costs partly offset by higher other income
Elevated slippages & higher write-offs drive higher credit cost
NIM to remain under pressure in near term
Downside risk to FY26E ROA expectations (1.5%)
@beatthestreet10
Jefferies on Bandhan BK
Buy, TP Rs 215
1Q profit of Rs4bn (-65% YoY) tad higher than est with slightly better NII & lower credit costs
Slippages & credit costs improved but stayed high due to stress in MFI
Loan growth driven by lower margin secured segments &dragged NIMs
@beatthestreet10
NUVAMA ON RELIANCE
Maintain Buy with target price of ₹1,767
New Energy ecosystem to ramp up in 4-6 quarters, seen as the largest multidecadal growth driver
Expect fully integrated 10GW polysilicon-to-module facility by end-FY26, may add 6% to consolidated PAT
RIL developing next-gen tech across the chain such as perovskite
Petchem expansion on track for FY27E
50% rise in US ethane imports to lift margins
@beatthestreet10
MOTILAL OSWAL ON RELIANCE
Reiterate Buy with revised target price of ₹1,700 (earlier ₹1,685)
Consolidated EBITDA declined 2% QoQ (+11% YoY), a 5% miss vs estimate
Weak performance in Retail and O2C
Reduce FY26-27E EBITDA by 1-2% and PAT by 4% due to broad-based cuts
Expect RJio to remain the biggest growth driver with 19% EBITDA CAGR over FY25-28E
Q1 was soft, but remain positive on growth across segments
Build in CAGR of ~11% in EBITDA/PAT over FY25-28E
@beatthestreet10
Investec on Sona BLW
Maintain Buy with TP of Rs 500
Sona announces JV to tap Chinese EV market
Earnings contribution initially likely to be c.5%
Reduce customer concentration, tap new & significantly large growth avenues
@beatthestreet10
Citi on AU SFB
Maintain Neutral; Cut TP to Rs 850 from Rs 873
Core Earnings Miss: Weak NIM Profile, Elevated Credit Cost
Unsecured and Southern mortgage stress led to higher credit cost
FY26 Credit cost guidance raised
NIMs contract 38 bps QoQ to 5.4%; NII disappointment
@beatthestreet10
Jefferies IndiaMart InterMesh
Maintain Underperform; Hike TP to Rs 2150 from Rs 2000
Q1 Review: Growth Concerns Persist
Revenue miss; margin/profit beat
Subscriber additions remain muted
Collections growth remains soft
Increase ad spends to keep margins under check
@beatthestreet10
Jefferies on HDFC Bank
Maintain Buy; Hike TP to Rs 2400 from Rs 2340
Q1: Better growth with manageable margins and asset quality
Improving outlook on retail demand and bank's credit growth
Growth should continue to improve & monetisation of merger synergies should help
Stays among top picks
@beatthestreet10
CLSA on HDFC Bank
Maintain Outperform; Hike TP to Rs 2300 from Rs 2200
Rock solid
Good all-round performance
Good delivery on deposits and NIM
Asset quality remains pristine; good job on opex
@beatthestreet10
JPMorgan on RIL
Maintain Overweight; Hike TP to Rs 1695 from Rs 1568
Headline behind; better telecom margins; New Energy progress key positives
Retail growth decelerated to 11% YoY; missing estimates
O2C EBITDA was weaker than forecast
Overall, RIL is positioned for better PAT growth in FY26/27
@beatthestreet10
CLSA on ICICI Bank
Maintain Outperform with TP of Rs 1700
Steady ship in turbulent waters
Profitability metrics holding up well while growth softens
Strong performance on NIM; asset quality stable
ICICI Bank is the only bank under coverage to report sequential growth in NII, despite the sharp rate cut environment
@beatthestreet10
Jefferies on ICICI Bank
Maintain Buy; Hike TP to Rs 1760 from Rs 1710
Q1: Better Profitability; Growth to improve
Softer growth with better NIMs & asset quality
Mgt expects growth to improve
Asset quality continues to hold up well
Deposit growth of 13% and CASA growth of 14% were healthy
@beatthestreet10
WILL MARKETS REVERSE OR WILL WE SEE KNEE-JERK REACTION?
MARKETS REVERSAL TODAY?ICICI BANK/JSW STEEL-NIFTY EARNINGS AHEAD OF ESTIMATES
BROKERAGES STILL BULLISH ON RELIANCE
HDFC BANK MAY REMAIN RANGE BOUND ON MIXED NUMBERS
GLOBAL CUES LARGELY UNCHANGED-NO MAJOR ANNOUNCEMENT FROM TRUMP
MOST SECTORS HAVE GIVEN STRONG WEEKLY CLOSE
MOST ASSET CLASSES IN A SHORT TERM RANGE
NASDAQ LIFE-TIME HIGH LEVELS-+VE FOR IT
@beatthestreet10
Mahindra Lifespace(+ve)
Mahindra Industrial Park Chennai Limited, subsidiary of the Company together with its joint venture partner Sumitomo Corporation, signed Strategic Cooperation Agreement with Osaka Government to Support Japanese Businesses Entering India
@beatthestreet10
JIO Finance (+ve)
Forms a 50:50 Joint venture company with Allianz Europe B.V., (“Allianz”) for carrying on reinsurance business in India
The joint venture company will launch operations post receipt of statutory and regulatory approvals.
@beatthestreet10
ANTIQUE ON HDFC BANK
Target price ₹2,270 (maintaining Buy)
Largely in-line results
HDFC Bank remains preferred pick among large private banks due to
Improved growth outlook
RoA expansion levers from deposit substitution of higher-cost borrowings
Reduction in RIDF investments
Lower opex as operating leverage picks up from branch additions
Largely retaining estimates and rolling over to 1HFY28E, valuing the standalone bank at 2.3x P/B
@beatthestreet10
ANTIQUE ON ICICI BANK
Target price ₹1,680 vs ₹1,640 earlier (maintaining Buy)
NIM performance was better and profitability remains strong
Loan growth has moderated along with broader industry trends
Some pickup expected in 2HFY26
Liability profile remains strong and capitalization is comfortable
. Expect RoA in the range of 2.3%-2.4% and RoE of 16%-17% over FY27-28E %-17%
Marginally reduce FY26-27 earnings estimates and introduce FY28 estimates based on 2.5x 1HFY28 BV and 297 for subsidiaries
@beatthestreet10
ANTIQUE ON JSW STEEL
Target price ₹942 vs ₹905 earlier (maintaining Hold)
Domestic steel demand expected to stay resilient supported by Gol's continued capex push and RBI's rate cuts
FY26 should see continued ramp-up of the JVML plant
BPSL's phase 2 expansion and higher captive iron ore production with three new mines in Karnataka and one in Goa
Rolling over estimates to 1HFY28E (from FY27E earlier) based on 1HFY28E EV/EBITDA target multiple of 7.5x
@beatthestreet10
Stage set for a stormy Monsoon Session; Centre, opposition to face-off over Pahalgam attack, Trump's claim: Here's what to expect | India News - Times of India https://share.google/y1tW0MIufxno4ycx6
3 New Bill in Monsoon Session-
The Merchant Shipping Bill, 2024
The Indian Ports Bill, 2025
The Mines and Minerals (Development and Regulation) Amendment Bill
Companies in Shipping sector and Mining sector in focus
@beatthestreet10
Poonawalla Fin
To consider raising fund via issuance of equity shares on preferential basis on July 25
To consider raising limit of NCD fund raise in FY26 to ₹20,000 cr from ₹10,000 cr
@beatthestreet10

First

Last