TLDR

📈 Market Recap: July 17, 2025

Indian benchmark indices closed lower on Thursday, weighed down by weak tech and financials, alongside cautious global sentiment. The BSE Sensex dropped 375.2 points (–0.45%) to 82,259.2, while the NSE Nifty 50 fell 100.6 points (–0.40%) to 25,111.5. Broader indices saw mixed action: the Nifty Midcap 100 tracked flat, whereas the Smallcap 100 declined 0.12% to 19,117.3, dragged by small-cap profit-taking. Market breadth was negative with 1,658 advancers versus 2,234 decliners. India VIX rose modestly to approximately 11.24, reflecting elevated volatility amid global uncertainty.

Key Drivers:

• IT & Bank Stocks Lead Decline: Major IT names like Tech Mahindra (–1.5%) and Infosys fell after guidance concerns, pulling down the IT index by 0.5%. PSU and private banking stocks also lagged, collectively dragging the Nifty lower. 

• Cautious Global Tone: Uncertainty over the continuation of Fed Chair Powell and mixed statements on US-India trade kept global markets jittery, resulting in cautious investor behaviour and reduced risk appetite.

• Rupee Weakness & Export Flows: The rupee weakened to around ₹86.07/USD, raising concerns. However, exporter dollar inflows provided slight support, keeping the rupee’s deteriorating trend from worsening.

Today’s Top Stories:

1. Smartworks Coworking IPO Debuts with 7% Listing Premium: Smartworks listed at ₹436.10 on BSE (7% over issue price of ₹407), with strong 14× subscription and robust retail/QIB interest. Stock closed 9.5% higher on NSE.

2. HDFC AMC Q1 PAT Soars 24% to ₹748 Cr on Strong Revenue & AUM Growth: HDFC AMC reported a 24% YoY rise in Q1 net profit to ₹748 cr, driven by 27% revenue growth and AUM reaching ₹8.3 lakh cr; stock hit a 52-week high.

3. Adani Sells Entire AWL Agri Stake to Wilmar & Others for ₹10,874 Cr: Adani Enterprises exited its 30.42% stake in AWL for ₹10,874 cr; Wilmar’s unit picked up 20%. Stock jumped 6.7%, and Wilmar expects a gain of $1.23 bn.

4. ONGC Plans New 200,000–240,000 bpd Refinery in Jamnagar, Gujarat: ONGC is exploring a large greenfield refinery in Gujarat to boost domestic capacity; early talks with Saudi firms are ongoing as part of India’s energy pivot.

5. Home Loan Rates in July PSU Banks Start at 7.35%, Private Lenders at 7.90%: PSU banks offer rates from 7.35% (Union, BOI), while private lenders start at 7.90%; HFCs vary from 7.49% upward depending on profile and institution.

Market Snapshot

Nifty 50 Index Heatmap

Top Gainers & Losers

TOP STORIES

1. Smartworks Coworking IPO Debuts with 7% Listing Premium

• Listing details: Smartworks Coworking Spaces opened at ₹436.10 on BSE and ₹435 on NSE, marking a 7% premium to the IPO price of ₹407.

• Subscription & listing strength: The ₹583 crore IPO attracted strong demand, oversubscribed nearly 14×, with QIB participation at 25× and retail at 3.7×; grey market premium levelled at approximately ₹25 (+6%), foreshadowing healthy market reception.

• Post-listing performance: The stock closed on listing day around ₹445.50 on NSE (9.5% above IPO price), reflecting sustained investor enthusiasm despite ongoing losses.

2. HDFC AMC Q1 PAT Soars 24% to ₹748 Cr on Strong Revenue & AUM Growth

• Profit surge: Net profit jumped 24% YoY to ₹748 cr, up from ₹604 cr in Q1 FY25; PAT grew 17% sequentially from ₹639 cr in Q4 FY25.

• Revenue & AUM: Total income rose 26–27% YoY to around ₹968 cr, with Average AUM climbing to ₹8.3 lakh crore from ₹6.71 lakh crore.

• Market response: Share price hit a 52‑week high at ₹5,547.50 (up 3.5%), before settling 2.8% higher at ₹5,505.95 on BSE.

$HDFCAMC.NSE ( ▼ 0.39% ) 

3. Adani Sells Entire AWL Agri Stake to Wilmar & Others for ₹10,874 Cr

• Transaction details: Adani Enterprises exited its 30.42% stake in AWL Agri Business (formerly Adani Wilmar) by selling shares for a total of ₹10,874 crore, with Wilmar’s Lence unit acquiring 20% (₹7,150 crore at ₹275/share) and the balance sold to pre-identified investors, boosting Wilmar's holding to nearly 63.94%.

• Strategic focus: The divestment is part of Adani’s strategy to pivot toward core infrastructure, exiting the FMCG JV initially formed in 1999 and previously diluted in January 2025.

• Market reaction: AWL Agri shares surged 6.7% intraday, reflecting investor confidence; Wilmar expects to record gains of approximately $1.23 billion on the transaction.

$AWL.NSE ( ▼ 1.41% ) $ADANIENT.NSE ( ▼ 3.64% ) 

4. ONGC Plans New 200,000–240,000 bpd Refinery in Jamnagar, Gujarat

• Pre‑feasibility stage: ONGC is evaluating a new 200,000–240,000-barrel-per-day refinery proposal in Jamnagar, Gujarat, and is conducting a pre-feasibility study for the coastal greenfield project.

• Strategic rationale: This aligns with India’s ambition to become a global refining hub. The country is currently the world’s third-largest oil importer and consumer, seeking expanded refining capacity.

• Future collaboration: Talks include potential partnership with Saudi entities (e.g., Aramco) to support crude supply and financing, underlining India's energy-security push.

$ONGC.NSE ( ▼ 1.77% ) 

5. Home Loan Rates in July PSU Banks Start at 7.35%, Private Lenders at 7.90%

• PSU Banks offers: Union Bank of India and Bank of India launched home loans at 7.35%, while SBI and PNB start at 7.50% across loan sizes.

• Private banks range: HDFC Bank and Kotak Mahindra begin at 7.90%–7.99%, with ICICI from 8.00%, and Axis showing wider bands up to 11.90% based on borrower profile.

• HFC offerings: Bajaj Housing starts at 7.49%, LIC Housing and ICICI Home Finance at 7.50% onwards, with other HFCs extending into double digits.

GYAANI HOT TAKES