Stock Market Live: Nifty Near 24,450, Sensex Up Over 600 Points; RITES, Reliance Power Surge Up To 17%

Benchmarks rose to the day’s high in intraday trade.

The NSE Nifty 50 gained as much as 0.77% to 24,049.90, while the BSE Sensex rose as much as 0.8%, or 630 points, to 77,110.

• Ashok Leyland reported total June sales of 19,194 units, above the estimate of 15,839 units.
• Total sales rose 25% year-on-year. Light commercial vehicle sales grew 28% to 7,038 units, while medium and heavy commercial vehicle sales increased 24% to 12,156 units.

• Maruti Suzuki reported total June sales of 2 lakh units, below the estimate of 2.15 lakh units.
• Total sales grew 19% year-on-year, while domestic sales rose 21% to 1.6 lakh units. Domestic passenger vehicle sales increased 24% to 1.5 lakh units.
• Exports rose 13% to 42,768 units, while domestic light commercial vehicle sales grew 22% to 2,963 units.

• Delhi’s winter pollution action plan proposes fuel sales only for vehicles with a valid PUC certificate, entry curbs on non-BS-VI vehicles registered outside Delhi and higher parking charges at authorised lots.
• The plan also includes 50% office attendance, tighter curbs on construction and demolition activity, mandatory anti-smog systems at large sites and drone monitoring of open burning.
• Violations may attract fines, environmental compensation, sealing of premises and prosecution. The framework is planned as an annual measure to address winter pollution in Delhi.

• Hyundai Motor India reported total June sales of 51,335 units, below the estimate of 62,521 units. Domestic sales stood at 39,635 units, while exports were at 11,700 units.
• The company said it saw a production loss of 13,900 units in June after a fire at a manufacturing unit. Hyundai said production operations returned to normal since June and it expects to recover the loss in Q2 FY27.

• Coal India reported production of 57.4 million tonnes in June, up 0.6% from a year earlier, according to an exchange filing.
• The state-run miner's offtake rose 7.5% year-on-year to 65.8 million tonnes during the month, the filing showed.

• IndiGo announced a new fare option, IndiGo Lite, for economy class passengers, according to a press release.
• The fare will be available only on IndiGo’s direct booking channels and will offer a lower base price with an auto-assigned seat at no extra cost.
• Passengers under the IndiGo Lite fare will be allowed only cabin baggage of up to 7 kg. Bookings open from Wednesday, with flights under the fare starting July 15.

GAIL India said Satish Kumar Sinha has taken charge as Chief Financial Officer, according to an exchange filing.

• Swiggy Instamart appointed Gautam Swaroop as Chief Business Officer, according to a statement.
• Swaroop joins Instamart after heading OYO’s international business. He replaces Hari Kumar G, who stepped down from the role.

• Gross GST collections in June stood at Rs 1.71 lakh crore, compared with Rs 1.95 lakh crore earlier, down 13.9%.
• Net GST collections stood at Rs 1.46 lakh crore, compared with Rs 1.62 lakh crore earlier, down 11.2%. GST refunds fell 29.1% to Rs 25,121 crore from Rs 32,436 crore.

Current options positioning continues to show the heaviest outstanding positions at:

• Nifty Support: 23,900
• Nifty Resistance: 24,000
• Bank Nifty Pivot: 58,000

Although today is not an expiry session, these remain the key strikes traders are monitoring in the current weekly series.

• Page Industries futures gained nearly 3% while open interest increased in both the July and August contracts.
• The pattern indicates fresh long positions.

• Ashok Leyland's futures open interest has risen 38.61% since the previous expiry.
• Total derivatives open interest has increased 33.60%.

• Ambuja Cements' total derivatives open interest has increased 29.65% since the previous expiry.
• Futures open interest has climbed 38.39%.

• Alkem has witnessed a 22.94% increase in total derivatives open interest since the previous expiry.
• Put open interest has increased 117.03%.

• Astral's Put open interest has increased 213.20% since the previous expiry.
• Call open interest has also risen more than 313%.

• Apollo Hospitals has recorded a 145.30% increase in Put open interest since the previous expiry.
• Total derivative open interest has increased 28.88%.

• Nifty Fin Service's total derivative open interest has fallen 71.42% since the previous expiry.
• Call and Put open interest have both declined by more than 78%.

Nifty Mid Select has gained 8.43% since the previous expiry despite a 6.82% decline in total open interest.

• Bank Nifty has declined 0.97% since the previous expiry while total open interest has increased 8.49%.
• The data indicates traders continue carrying positions in banking derivatives.

• Nifty has declined 7.54% since the previous expiry, while total derivative open interest has increased 55.97% to over 74.5 lakh contracts.
• The rise reflects continued rollover and fresh positioning despite the correction.

Options positioning highlights:

• Highest Put OI: 58,000 strike
• Highest Call OI: 58,000 strike
• Largest fresh Put additions: 57,500 strike

The data suggests traders continue to monitor the 57,500-58,000 band.

• The largest Call additions during the session were recorded at the 58,000 strike.
• Additional Call writing was visible at 58,200 and 58,500.

• Today's options data shows the strongest fresh Put additions at the 57,500 strike.
• Fresh Put writing was also visible at 57,600 and 57,700.

• The 58,000 strike also carries the highest Call open interest on Bank Nifty.
• Heavy positions on both sides continue to make the strike the key pivot for traders.

• Bank Nifty's highest Put open interest remains at the 58,000 strike with more than 11 lakh contracts.
• Additional Put support is visible at 57,000 and 58,500.

• The largest outstanding Call positions remain concentrated at the 24,000 strike.
• Any sustained move above the level could trigger Call unwinding.

• The heaviest Put concentration remains at 23,900, making it the first important support level.
• A decisive break below this strike could weaken the near-term options structure.

Open interest distribution shows:

• Highest Put OI: 23,900 strike

• Highest Call OI: 24,000 strike

• Strong Call additions: 24,000 strike

The setup indicates traders are positioning around the 23,900-24,000 region.

• Fresh Call writing remained concentrated at the 24,000 strike.
• Further additions were seen at 23,900, 24,100 and 25,000.

• The biggest Put additions in today's weekly options chain were recorded at the 23,900 strike.
• Fresh Put writing also emerged at 23,800 and 24,000, suggesting traders are defending the immediate downside.

• The 24,000 strike has the highest Call open interest at over 10 lakh contracts.
• Additional Call positions are visible at 24,100 and 24,500, indicating traders continue to cap upside around 24,000.

• The 23,900 strike now carries the highest Put open interest at nearly 9.5 lakh contracts.
• Fresh Put additions were also strongest at the same strike, reinforcing it as the key support level in the current weekly series.

• Oil marketing companies reduced aviation turbine fuel prices for domestic airlines by Rs 5 per litre, according to IOCL.
• The effective ATF price now stands at Rs 110 per litre.

• Citi upgraded Titan to Buy from Neutral with a target price of Rs 5,075, citing strong jewellery demand and an expected improvement in product mix.
• The brokerage upgraded Page Industries to Buy from Sell and raised the target price to Rs 47,700 from Rs 34,100. It expects volume growth to rise to 9.6% in FY27 from 4% in FY26 and sees channel inventory normalising.
• Citi also upgraded Havells to Buy from Neutral with a target price of Rs 1,500. It said growth may improve in FY27, led by cables and wires, recovery in consumer businesses and operating leverage.

• KPIT Technologies hit a 10% lower circuit after the company said it expects Q1FY27 dollar revenue to decline about 1% year-on-year.
• The company expects Q1FY27 revenue at $176.22 million, compared with $178 million in Q1FY26. On a sequential basis, revenue is expected to fall 4.7%, marking its first revenue decline in 23 quarters.
• KPIT said revenue was hit by a slowdown at European auto OEMs after recent profit warnings and an adverse business outlook. The company expects EBITDA and PAT margins to decline sequentially, with the fall in margins expected to be higher than the revenue decline.
• The company said H1FY27 is likely to remain weak, while H2FY27 should see sustainable growth. It expects sound sequential growth in Q4FY27 and said business fundamentals remain strong.

>>

>>

• The NSE Nifty 50 rose as much as 0.3% to 23,934.90, while the BSE Sensex gained as much as 0.3% to 76,697.37.
• Benchmarks traded higher as they aimed to snap a two-day losing streak.

• Nifty 50 rose 31.90 points, or 0.13%, to 23,897.65 in the pre-market trading session.
• The Sensex gained 69.64 points, or 0.09%, to 76,548.31.

The rupee traded lower on Wednesday, depreciating as much as 5 paise to 84.71 against the US dollar.

• M&M reported 28% year-on-year growth in June passenger vehicle sales at 60,393 units, above the estimate of 52,965 units.
• Total sales rose 37% year-on-year to 1.06 lakh units, while exports stood at 5,918 units against 2,634 units a year earlier.
• Three-wheeler sales grew 63% to 13,820 units. LCV sales rose to 26,076 units from 19,348 units, while tractor exports increased 8% to 1,758 units.

• Macquarie maintained Neutral on Kotak Mahindra Bank with a target price of Rs 455. Jefferies maintained Buy with a target price of Rs 450.
• Investec retained Hold with a target price of Rs 420, while Morgan Stanley kept Overweight with a target price of Rs 500. Citi maintained Buy with a target price of Rs 485.
• The brokerages said Kotak Bank’s acquisition of Deutsche Bank’s India business could support its affluent and SME banking strategy. They cited integration, customer attrition, regulatory approvals and execution timeline as key monitorables.

• Jana Small Finance Bank told NDTV Profit that the rating downgrade of its holding company has nothing to do with the bank.
• The bank said Jana Holdings holds a 16.95% stake in Jana SFB, down from 44% over the years. It said the NCD repayment has been rescheduled to give Jana Holdings time to sell shares.
• Jana SFB said Jana Holdings has a consensual agreement with NCD holders, who are private equity investors. It added that Jana Holdings has not contributed capital to the bank since June 2022, has no board representation at the bank, and there is no cross-default linkage between Jana SFB debt and Jana Holdings/JCL debt.

• Jefferies initiated coverage on MCX with a Buy rating and a target price of Rs 3,600.
• The brokerage said commodity markets remain underpenetrated compared with equities. It expects MCX to report 20% revenue CAGR and 22% earnings CAGR through FY29, with 260 basis points of margin expansion.

• Macquarie added TVS Motor to its Stars list and booked profits in M&M. It retained Titan and JSW Steel, turned more bullish on Bharti Airtel and continued to like HDFC Bank.
• In Rising Stars, the brokerage added Lenskart and Phoenix Mills, while removing MakeMyTrip and Amber Enterprises.
• In its Tactical list, Macquarie added Axis Bank, Hyundai and Dixon Technologies. It removed Shriram Finance, Reliance Industries and Coal India.

• Oil marketing companies cut prices of 19-kg commercial LPG cylinders by up to Rs 183.50 from July 1.
• Prices of 14.2-kg domestic cooking gas cylinders remain unchanged.

• Gujarat Natural Resources, Saksoft, SKM Egg Products Export India and Vedanta Iron and Steel have been shortlisted under the Short-Term ASM Framework.
• Go Fashion India, Magellanic Cloud, Powerica, Ramco Systems and Standard Engineering Technology will be excluded from the ASM Framework.

• GNG Electronics’ price band has been revised to 5% from 10%, while Saksoft’s price band has been changed to 10% from 20%.
• Sammaan Capital’s price band has been set at 20% from no band earlier.

• BlackBuck promoter and director Ramasubramanian Balasubramaniam pledged 6.3 lakh shares.
• Confidence Petroleum India promoter group entity Confidence LPG Bottling bought 14 lakh shares. Afcom Holdings promoter group entity Thiagaraja Annamalai sold 3 lakh shares.
• KCP promoter group entity Rajiv Rangasami sold 10,000 shares, while INOX India promoter group entity Manju Jain sold 6,000 shares.

• Genus Power saw multiple bulk deals, with Chiswick Investment Pte selling shares across transactions. Buyers included Buoyant Opportunities Strategy, Profitex Shares & Securities, Madhuri Madhusudan Kela, D3 Stock Vision, Irage Broking Services and Mansi Share and Stock Broking.
• In Energy Infra, Rapid Holdings 2 Pte sold 3.97 crore shares at Rs 76.01 apiece. Buyers included HDFC Securities, Neo Real Asset Yield Fund and Arvesta Financial Services.
• AXISCADES Technologies’ Jupiter Capital sold 10 lakh shares at Rs 1,667.76 apiece. In Jash Engineering, Axel Schutte sold 12 lakh shares at Rs 475.56 apiece.
• Krishna Defence and Allied Industries saw sales by Ankur Ashwin Shah, Pallavi Ashwin Shah and Preyal Ankur Shah, while 360 One Pipe Fund bought 4.41 lakh shares at Rs 1,203.47 apiece.

Tata Investment, Wheels India and Cyient will hold their annual general meetings today.

Waterways Leisure Tourism and Advit Jewels will list on the exchanges today, according to the IPO listing update.

• Adani Energy Solutions, Netweb Technologies India and Zee Entertainment Enterprises will hold board meetings to consider fundraising proposals.

Bajaj Auto’s buyback opens today, according to the corporate action update.

• Unimech Aerospace & Manufacturing’s 1.5-year lock-in period ends for 1 crore shares valued at $123 million, representing 20% of total outstanding shares.
• Kalpataru’s one-year lock-in period ends for 1.5 crore shares valued at $52 million, representing 7% of total outstanding shares.

• HDFC Life said the GST appellate authority upheld a tax demand of Rs 132.7 crore, along with applicable interest and penalty of Rs 132.7 crore. Kotak Mahindra Bank signed a business transfer agreement with Deutsche Bank to acquire its India business undertaking.

• KPIT Technologies said Q1FY27 performance is expected to be below expectations, with dollar revenue likely to decline 1% year-on-year. The company cited spending cuts by some European automotive OEMs and expects recovery in the second half of FY27.

• Vodafone Idea acquired a 26% stake in MTK Quantum for Rs 4.33 crore, while Poonawalla Fincorp approved issuance of non-convertible debentures worth up to Rs 750 crore.

• Prestige Estates launched Phase 2 of Prestige Forest Hills at The Prestige City, Mulund, with an estimated gross development value of about Rs 2,200 crore. Avenue Supermarts opened a new store in Pollachi, taking its total store count to 503.

• Max Healthcare acquired 100% voting rights and 50.22% economic interest in Yerawada Properties as part of its plan to develop a 450-bed hospital in Pune. Bandhan Bank completed the sale of a housing finance NPA portfolio of Rs 291.44 crore to ACRE for Rs 119.49 crore.

• RailTel received a Rs 107.60 crore order from Mahanadi Coalfields, while Newgen Software accepted a $1.71 million award for a retail loan origination solution. Axis Bank allotted $500 million of additional Tier-1 notes and $300 million of senior notes under its global medium-term note programme.

• Knack Packaging raised Rs 131.25 crore from anchor investors before its IPO opens on July 1, PTI reported.
• The company allotted 77.20 lakh shares at Rs 170 apiece. The Rs 439.5 crore IPO comprises a fresh issue of Rs 380 crore and an offer for sale of up to 35 lakh shares worth Rs 59.5 crore.
• The IPO will close on July 3 and the shares are scheduled to list on July 8. Proceeds from the fresh issue will be used to set up a manufacturing facility in Gujarat’s Mehsana district and for general corporate purposes.

• Glenmark Pharma said the US FDA concluded a GMP inspection at its Goa manufacturing unit with six Form 483 observations, according to an exchange filing.
• The inspection was conducted from June 22 to June 30. The company said it does not see any impact on product supplies from the inspection.

• Automobiles were the biggest driver of India’s export growth to Japan, with their share in outbound shipments rising to 13% in FY26 from 1% in FY21, PTI reported, citing a Rubix Data Sciences report.
• India’s goods exports to Japan rose to $6.2 billion in FY25 from $4.4 billion in FY21. Imports from Japan increased to $18.9 billion from $10.9 billion during the period, widening India’s trade deficit with Japan to $12.7 billion in FY25.
• The report said 81.5% of Japanese companies plan to expand operations in India over the next 1–2 years.

• NITI Aayog has called for streamlining visa approval processes and simplifying regulations to support growth in India’s tourism and hospitality sector, PTI reported.
• The report said India’s visa regime needs to improve accessibility and user experience to attract repeat and high-value travellers. It also flagged regulatory fragmentation, duplicate approvals and high compliance burden as issues affecting tourism investment and project execution.

• Delhi’s EV Policy 2026 provides incentives for electric vehicles and lays out a roadmap till March 2030 for transport sector reforms, PTI reported.
• Chief Minister Rekha Gupta said the policy includes phased electrification across vehicle categories, charging infrastructure expansion and a stronger institutional framework.
• The policy provides purchase incentives of up to Rs 30,000 for electric two-wheelers, with an additional Rs 10,000 for scrapping an old vehicle. From April 1, 2028, registration of new two-wheelers in Delhi will be allowed only as electric vehicles.
• From Jan. 1, 2027, all new auto-rickshaws will be registered only as electric vehicles. The policy also targets making 30% of school buses electric by 2030.

• Indian Oil Corp. Chairman and Managing Director AS Sahney said ethanol pricing must remain affordable for customers, viable for producers and oil companies, and support energy security.
• Sahney said the E20 programme has worked on these principles and E85 can also grow if it meets the same conditions. He said E85 has been launched at a cheaper rate as an offer and pricing may be calibrated as consumption increases.

• The government revised export levies on petrol, diesel and ATF for the fortnight beginning July 1. Export duty has been set at Rs 4 per litre on petrol, Rs 8.5 per litre on diesel and Rs 7.5 per litre on ATF.
• Exports by PSU oil companies to Mauritius and Maldives have been exempted from the levies. The exemption was already available for exports to Nepal, Bhutan, Bangladesh and Sri Lanka.
• There is no change in excise duty on petrol and diesel meant for domestic consumption. Export levies will continue to be reviewed every fortnight, linked to global crude and fuel prices.

• Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian, with both sides discussing recent developments in West Asia, according to statements from Iran and India.
• India’s statement said Modi welcomed the understanding reached and reiterated that issues must be resolved through dialogue and diplomacy. He also stressed the need for lasting peace, stability, and freedom of navigation and commerce.
• Iran’s readout said Pezeshkian called for deeper India-Iran cooperation in political, economic, commercial, transit and multilateral areas, including BRICS. It also said Modi invited Pezeshkian to the upcoming BRICS Leaders’ Summit in India.

The Centre plans to bring motorcycles and scooters under corporate average fuel efficiency norms from April 2028, Mint reported, citing people aware of the development and a government document.

The move will bring India’s largest vehicle segment under the fuel-efficiency regime for the first time. The Bureau of Energy Efficiency is holding talks with two-wheeler makers, SIAM and ACMA on a methodology to measure emissions across powertrains, according to the report.

• US government released President Donald Trump’s annual financial disclosure, Bloomberg reported.
• The disclosure showed Trump owned at least $5 million each in Apple and Nvidia shares, and at least $1 million in Palantir shares. It also showed he bought at least $100,001 in Palantir shares.
• Rolex gifted Trump US Open tickets worth $25,000, according to the disclosure.

Iran’s Parliament Speaker MB Ghalibaf said Iran, the US and Lebanon have agreed to set up a de-confliction cell, Al Jazeera reported, citing his interview with Iran state media.

Ghalibaf said Tehran and Washington have appointed their representatives, while Beirut is expected to do the same before the cell becomes operational. He said Iran has exported more than 40 million barrels of oil in less than two weeks after the lifting of the blockade.

He also said Iran will not give up its nuclear rights and that uranium enrichment is its “legitimate and inalienable right”. Ghalibaf said the 60-day period under the Iran-US MoU to reach a final deal can be extended, with talks to continue until US and UNSC sanctions are removed.

US President Donald Trump was briefed on options for a return to full-scale strikes on Iran but has chosen to continue diplomatic talks for now, the Wall Street Journal reported, citing US officials.

The report said discussions involved Defence Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine. Trump told aides that another round of attacks could disrupt diplomacy and weaken efforts to dismantle Iran’s nuclear programme, according to the report.

• The Japanese yen fell to 162.28 against the US dollar, extending losses from the previous session.
• The currency touched its weakest level in 40 years, keeping traders alert for any signs of intervention by Japanese authorities.

• Asia-Pacific markets traded mixed on Wednesday as investors tracked regional equities.
• Japan’s Nikkei 225 climbed 2.54%, while South Korea’s Kospi slipped 0.30%. Australia’s ASX 200 declined 0.39%.

The GIFT Nifty, an early indicator of Nifty 50's performance, traded at 23,989, compared to Tuesday's index close of 23,865.75.