IPO Market Update: HDB Financial’s Discovery Price Shows 13% Premium 

HDB Financial Services Ltd. is set to debut on the stock exchanges at an issue price of Rs 740 on Wednesday following a robust response to its Rs 12,500 crore initial public offering, which was subscribed nearly 17 times. The issue ranks among the biggest IPOs by a non-banking financial company in recent years and is the largest public offer so far in 2025.

To track live update on HDB Financial listing click here.

Stock Market Live: Dreamfolks Services Drops Nearly 5%

Dreamfolks Services declined 4.79% to Rs 225.22 apiece, the lowest level since June 23. The share price declined as it closed some programmes for Axis Bank and ICICI Bank as of July 1, 2025, which may have a material impact.

Sectoral Performance At Open: Nifty IT Advanced Most 

On National Stock Exchange, 10 sectoral indices advanced, three declined, and two remained flat out of 15. The NSE Nifty IT advanced the most, and the NSE Nifty PSU Bank declined the most.

Nifty Contributors: ICICI Bank, Infosys Support Gains 

ICICI Bank Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Mahindra & Mahindra Ltd. added to the Nifty 50 index.

HDFC Bank Ltd., Larsen & Toubro Ltd., IndusInd Bank Ltd., Asian Paints Ltd., and Reliance Industries Ltd. weighed on Nifty 50 index.

Stock Market Today: Nifty, Sensex Extend Gains At Open 

The NSE Nifty 50 and BSE Sensex advanced at open tracking a rise in ICICI Bank Ltd., Infosys Ltd. shares. The indices were trading 0.22% and 0.25% higher, respectively as of 9:19 a.m.

Stock Market Today: Nifty, Sensex Rise At Pre-Open 

At pre-open, the NSE Nifty 50 was trading 0.18% higher at 25,588.30 and the BSE Sensex was trading 0.11% higher at 83,790.72.

Yield On The 10-Year Bond Opens Flat

  • The 10-year bond yield opened flat at 6.30%

Source: Bloomberg

Rupee Opens Stronger Against US Dollar

  • Rupee opened 6 paise stronger against US Dollar at 85.58

  • It closed at 85.52 a dollar on Tuesday.

Source: Cogencis

Stock Market Today: Goldman Sachs On SBI Cards

  • Downgrade to Neutral from Buy with a target price at Rs 1,006

  • Balanced risk-reward post sharp valuations re-rating

  • Credit Costs and growth to be a focus near term

  • Near-term EPS growth to be impacted

  • Cut EPS by 9.5%/7.8% in FY26E/FY27E

  • See delayed conversion of spends to interest-bearing-loans, reflecting a gradual improvement in NIMs

  • See slower improvement in operating leverage

  • Higher-than-expected credit costs due to its ECL policy along with gradual improvement in portfolio

Oil Prices Rebound Two-Day Slump

Oil prices rebounded Wednesday from a two-day slump as crude oil inventory dropped in the US, and uncertainty over Iran’s nuclear program advanced. Iran is reported to cut communications with some of the United National nuclear watchdogs.

American Petroleum Institute reported a 1.4 million barrel drop for last week at Cushing Oil hub, which is a price point for WTI crude, Bloomberg reported.

Asia Market Update: KOSPI Falls Over 1% As Inflation Rises Above BoK’s Target

Markets in South Korea were trading in losses as the country’s headline inflation rose past the Bank of Korea’s target rate of 2%. This supported a case for hold on interest rates in the current month.

South Korea’s consumer inflation advanced to 2.2% in June, against analysts’ expectation of 2.1% projected in Bloomberg’s survey.

The KOSPI was trading 1.26% down at 3,049.06 as of 7:27 a.m.

Markets in Asia-Pacific region trading on a mixed note, tracking overnight cues from Wall Street.

The Nikkei 225 fell 1.01%, while the S&P ASX 200 rose 0.12% as of 7:28 a.m.

Stock Market Today: Reliance Communication Gets Fraud Notice From SBI For Its Loan Accounts 

State Bank of India has declared Reliance Communication’s loan account as fraudulent. SBI will report former director Anil Dhirajlal Ambani to the Reserve Bank of India, the company said in the exchange filing Tuesday.

US Market Update: S&P 500 And Nasdaq 100 Futures Advance 

The S&P 500 and Nasdaq 100 futures advanced in Asia session. On Tuesday, the S&P 500 and Nasdaq Composite ended lower as most traders pulled money out of mega-stocks following rally.

The S&P 500 and Nasdaq 100 futures were trading 0.03% and 0.06% higher, respectively. The Dow Jones Industrial Future was trading flat with negative bias as of 7:16 a.m.

The S&P 500 ended 0.11% down at 6,198.11, and the Nasdaq Composite ended 0.82% down at 20,202.89. The Dow Jones Industrial Average ended 0.91% higher at 44,494.94.

GIFT Nifty Implies Flat Open; JSW Energy, Maruti Suzuki, Lupin Shares In Focus

The GIFT Nifty was trading 0.01% or 1.50 points higher at 25,683.00 as of 6:41 a.m., which implied a flat-to-slight higher open for the NSE Nifty 50 index.

Traders may keep an eye on JSW Energy Ltd., Maruti Suzuki India Ltd., Lupin Ltd., and Zen Technologies Ltd. share prices because of the overnight news flow.

Indian benchmark equity indices closed with gains on Tuesday, led by share prices of Reliance Industries Ltd. and HDFC Bank Ltd.

The NSE Nifty 50 ended 24.75 points or 0.1% higher at 25,541.8, while the BSE Sensex closed 90.83 points or 0.11% up at 83,697.29.

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