The Indian stock market experienced notable volatility between June 26 and July 4, 2025. The Sensex surged as much as 850 points and the Nifty crossed key milestones, including 25,500 and 25,600, driven by positive global cues and easing Middle East tensions. The Nifty Bank index repeatedly hit fresh record highs, surpassing 57,300 points, with shares of HDFC Bank and Axis Bank rising over 1%. However, the market's upward momentum was interrupted by concerns over US-India trade tensions and sensitive US trade talks, which led to profit booking and a decline in key indices. By July 2, the Nifty slipped below 25,400 amid ongoing trade deadlocks. The market showed a mixed performance with small and midcap stocks snapping a seven-day rally and broader markets fluctuating. On July 4, the market recovered in the last hour, with the Sensex closing up 193.42 points at 83,432.89 and the Nifty rising 55.70 points to 25,461. Despite this recovery, the market snapped a two-week gaining streak, mainly due to declines in financial heavyweights, including Trent and Axis Bank. Trent, a Tata Group retailer and parent company of Zudio, saw its shares plunge between 7% and 12% following a disappointing Q1FY26 business update and a downgrade to 'Hold' by Nuvama. The company reported standalone revenue of ₹5,061 crore for Q1FY26, up 19.7% year-over-year but below market expectations. Analysts cited slower growth in Trent's core fashion business and stretched valuations as reasons for the downgrade. Despite the recent decline, some technical analysis suggests Trent may be showing signs of bottoming out after a 25% drop from its highs. Meanwhile, the Nigerian Exchange Limited extended its bullish momentum with a gain of N403 billion, driven by renewed investor interest in insurance and banking stocks.