Indian Benchmark Indices Extend Losses Ahead of TCS Results; Nifty Ends Below 25,400

Market Update at 4:00 PM: On Thursday, July 10, Indian benchmark indices ended the session lower, extending losses from the previous day. Market sentiment remained subdued as investors turned cautious ahead of the June quarter earnings season and awaited developments around a possible trade agreement with the United States. At market close, the Nifty 50 fell by 120.85 points or 0.47 per cent to settle at 25,355.25, while the Sensex declined by 345.80 points or 0.41 per cent to close at 83,190.28.

The Nifty IT index was among the key underperformers, dropping 0.79 per cent, with all ten of its constituent stocks ending in the red. TCS, which is set to announce its June quarter results shortly, closed slightly lower by 0.05 per cent. On the technical front, selling pressure was observed around the 25,500 mark on the Nifty, signalling caution among traders.

Globally, Asian markets showed mild strength, with investors largely unfazed by recent tariff comments from former U.S. President Donald Trump. Reports indicate that an Indian trade delegation may soon visit the U.S. to advance ongoing negotiations. On the sectoral front, only two out of eleven key indices closed in positive territory, while the rest, including broader indices like the Midcap and Smallcap segments, ended in red. The Nifty Midcap 100 slipped by 0.3 per cent, and the Nifty Smallcap 100 dropped by 0.27 per cent.

In stock-specific action, Waaree Energies gained 2 per cent following the announcement of an Offer for Sale to divest a 2.4 per cent stake in one of its subsidiaries. Shares of Enviro Infra jumped 6 per cent after its joint venture secured a pollution control contract worth Rs 395 crore in Maharashtra.

The Nifty Realty index emerged as the top sectoral gainer, rising 0.72 per cent, with Prestige Estate leading the gains. In contrast, the Nifty PSU Bank index declined by 0.8 per cent. Among the top contributors to Nifty’s gains were Maruti, which added 6.71 points; IndusInd Bank, which contributed 2.21 points; and Tata Motors, adding 1.41 points. On the downside, Bharti Airtel dragged the index by 37.42 points, followed by Infosys with 18.38 points and ICICI Bank with 15.22 points.

The overall market breadth was negative. Out of 2,998 stocks traded on the NSE, 1,392 advanced, 1,524 declined, and 82 remained unchanged. As of July 1, 2025, a total of 68 stocks touched their 52-week highs, while 28 hit 52-week lows. Meanwhile, 101 stocks were locked in their upper circuits and 34 stocks in lower circuits.

Market Update at 12:15 PM: Dalal Street witnessed a quiet trading session on Thursday as investors remained cautious ahead of US President Donald Trump’s tariff policy updates and the domestic Q1FY26 earnings season. Tata Consultancy Services (TCS) is set to announce its Quarterly Results later in the day.

Adding to the cautious mood, the weekly F&O expiry for the Nifty50 is also scheduled for today.

By mid-session, the BSE Sensex was down by 317 points at 83,219, a decline of 0.38 per cent, while the Nifty50 slipped 101 points to Rs 25,371, lower by 0.41 per cent.

Among the Top Gainers on the Sensex were Tata Steel, Maruti Suzuki, and UltraTech Cement. On the other hand, Infosys, Tech Mahindra, and Bharti Airtel were the major laggards.

In the broader markets, the Nifty MidCap index dipped 0.28 per cent, while the Nifty SmallCap index edged lower by 0.2 per cent.

Sectoral indices showed mixed trends. The Nifty IT index declined 0.99 per cent ahead of TCS results. The Nifty Pharma and PSU Bank indices were also in the red, down 0.79 per cent and 0.49 per cent respectively. Meanwhile, the Nifty Metal index managed to gain 0.14 per cent.

Market Update at 9:45 AM: Indian equity benchmarks opened flat on Thursday as losses in IT stocks offset modest gains in other sectors. Investors stayed cautious ahead of a potential trade deal with the U.S. and the upcoming June-quarter earnings announcements.

As of 9:20 a.m. IST, the Nifty 50 declined by 0.04 per cent to 25,466.25, while the BSE Sensex slipped 0.05 per cent to 83,485.50.

Among broader indices, the Nifty Smallcap rose 0.2 per cent and the Nifty Midcap added 0.1 per cent.

Out of 13 key sectoral indices, nine were trading in the green with limited upside. The IT index dropped 0.4 per cent ahead of the earnings release from Tata Consultancy Services (TCS), which is scheduled after market hours. TCS shares were down 0.5 per cent to Rs 3,925.

Asian markets opened marginally higher, tracking overnight gains on Wall Street. This followed U.S. President Donald Trump’s move to issue final tariff notifications to seven smaller trading partners. Earlier this week, he also hinted at progress toward a trade deal with India.

Pre-Market Update at 7:45 AM: Indian markets are expected to start on a positive note on Thursday, July 10, as the Q1FY26 earnings season gets underway. Tata Consultancy Services (TCS) will be in focus as it announces its results today. Investors will track updates on revenue, margins, hiring trends, the BSNL deal, and developments in AI and cloud segments.

As of 7:34 AM, the GIFT Nifty was trading at 25,555—down by 25 points—indicating a slightly higher opening for the Nifty 50 and Sensex.

Globally, mixed cues emerged after U.S. President Donald Trump announced a 50 per cent tariff on imports from Brazil, up from the earlier 10 per cent. The new rate takes effect from August 1, citing what Trump termed as an “unfair trade relationship” and political factors tied to former Brazilian President Jair Bolsonaro.

Wall Street closed higher on Wednesday. The Nasdaq gained 0.94 per cent, setting a new record, supported by a 2 per cent rise in Nvidia, which crossed a market valuation of USD 4 trillion. The S&P 500 rose by 0.61 per cent and the Dow Jones added 0.49 per cent (up 217.54 points).

In India, markets ended lower on July 9, breaking a three-day winning streak. The Sensex fell by 176 points (0.21 per cent) to close at 83,536.08, while the Nifty 50 declined by 46 points (0.18 per cent) to end at 25,476.10 amid caution around earnings and trade tensions.

Foreign Institutional Investors (FIIs) were net buyers with inflows of Rs 77 crore, while Domestic Institutional Investors (DIIs) purchased equities worth Rs 920.83 crore.

On the commodities front, gold prices inched up as the U.S. dollar weakened slightly following tariff-related uncertainty. Oil prices declined on concerns that trade tensions could slow global economic growth. The Brazilian real dropped by 2.8 per cent after the tariff announcement.

Minutes from the U.S. Federal Reserve’s June meeting indicated that most policymakers expect rate cuts later this year, with the inflation impact from tariffs considered modest or temporary.

For today, RBL Bank and Hindustan Copper remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.