POST-MARKET SUMMARY 17th July 2025
On July 17, benchmark indices reversed a two-day gain, wiping out most of the previous session's progress, due to selling pressure in IT and banking stocks following weak June quarter earnings. The markets struggled in the morning and despite a mid-session recovery, persistent selling in the final hour brought the Nifty index closer to the 25,100 level.
The broader market performed better than the main indices, with the BSE Mid-Cap index closing slightly higher and the Small-Cap index gaining 0.3%. Sector-wise, PSU Bank and IT stocks declined by 0.8% and 1.4%, respectively, while Metal, Consumer Durables and Realty indices saw gains of 0.5-1.2%.
NIFTY: The index opened flat at 25,230 and made a high of 25,238 before closing at 25,111. Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed at 25,180 while immediate support is at 25,050.
BANK NIFTY: The index opened 63 points higher at 57,231 and closed at 56,828. Bank Nifty has formed a long bearish candle on the daily chart. Its immediate resistance level is now placed around 57,000 while immediate support is around 56,600.
Stocks in Spotlight
▪ Le Travenues Technology: Stock surged 19% following the company’s Q1 results, which showed a 28% increase in profit to Rs 18.9 crore and a 74% year-on-year jump in revenue to Rs 314.4 crore.
▪ Navkar Corporation: Stock jumped over 12% after the company reported a net profit of Rs 2 crore, reversing a loss of Rs 13.1 crore in the previous year. Revenue grew by 17% year-on-year, reaching Rs 138 crore.
▪ HDFC Asset Management Company: Stock climbed 3% after the company’s Q1 profit increased by 24% to Rs 748 crore while revenue saw a 25% year-on-year growth, reaching Rs 968 crore.
Global News
▪ European shares rebounded on Thursday, recovering from four consecutive sessions of losses. The market was buoyed by strong quarterly results from Switzerland's ABB and optimism surrounding a potential U.S. trade deal.
▪ Oil prices also rose on Thursday, despite a cooling of global trade tensions. Analysts pointed to low inventories and renewed risks in the Middle East as key factors supporting the market.
▪ Gold prices eased on Thursday, pressured by a stronger U.S. dollar. Investor concerns eased temporarily after President Donald Trump stated that he had no plans to remove Federal Reserve Chair Jerome Powell.
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