The country’s leading branded jewellery maker Titan will acquire a majority 67% stake in UAE-based Damas Jewellery in an all-cash deal, a move which helps the Tata group-managed firm to expand business in GCC countries.
“The consideration for the proposed transaction is arrived on the basis of the enterprise value of AED 1,038 million (nearly Rs 2,438.56 crore),” said a joint statement.
Titan acquires 67% stake in UAE-based Damas Jewellery for $283 Million- Daily Market Update 22nd July 2025
Overview and Outlook
Global Stock Market Today
- US equity markets ended on a flat note.
- European equity markets also ended on a flat note.
- Asian equity markets are trading mix.
- GIFT Nifty is up by 100 points, Nifty futures likely to open around 25200 levels.
Benchmark Nifty index kick started the week on a positive note, settled at 25091 levels after adding 122 points to its previous closing values.
Performance on the broader front was mix as Mid cap index gained 0.62% whereas Small cap index ended on a flat note.
Majority of sectoral indices ended in green. Amongst them, Banking, Fin Services, Metal index were at the top of the tally, gained in range 1% to 1.62%. On the other hand, Oil & Gas, PSU Banks and FMCG index were the laggards, fell in range 0.5% to just over 1%.
Technically, Nifty index witnessed a pullback rally from the lower band support of upward sloping channel pattern. This pullback rally might take it up to 25250-25260 spot levels that will act as immediate resistance on the higher side. on the lower side, supports are placed around 24880-24800 spot levels.
Derivatives Overview & Outlook
Yesterday, short covering was seen in Nifty, Banknifty and Finnifty futures that shed around 1.5%, 6% and 2% of open interest respectively while no meaningful activity was seen in Midcapnifty futures on open interest front.
Performance on the sectoral front was mix. Amongst them, FMCG, Oil&Gas and Pharma stocks witnessed maximum addition of short positions and some short covering was seen among Auto, Chemical, Metal and Power stocks.
On option front, put writing was seen at multiple strikes. Maximum positions are at 26000 CE followed by 25500 CE and 24000 PE closely followed by 25000 PE. Options data improved marginally, however still indicating sell on rise approach.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 1681 Cr in the cash segment, bought index futures worth Rs 570 Cr and sold stocks futures worth Rs 282 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3578 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25220-25350; Supports 25000-24900
Banknifty – Resistances 57200-57400; Supports 56800-56400
Finnifty – Resistances 27120- 27200; Supports 26900-26800
F&O Security in Ban Today: BANDHANBANK & RBLBANK.
IMPORTANT RESULTS TODAY: COLPAL, DALBHARAT, DIXON, IRFC, MFIN, MGL, PAYTM, ZEEL.
Disclosure
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