Taking Stock: Sensex down 0.8 percent, Nifty below 25,200 as tariffs, TCS Q1 weigh

Market Today

Benchmark equity indices continued the losing streak for a third consecutive session on July 11 over concerns of impact of Trump tariffs and selling in IT shares after the TCS Q1FY26 earnings, taking the Nifty 50 index below 25,200 level.

At close, the Sensex was down 689.81 points or 0.83 percent at 82,500.47, and the Nifty was down 205.40 points or 0.81 percent at 25,149.85. The BSE Midcap index extended the fall for a third day, falling 0.5 percent, while BSE Smallcap index shed 0.7 percent, snapped a two-day gain. For the week, Sensex and Nifty indices fell more than a percent each, down for a second consecutive week.

Earlier, President Trump said on Thursday the US would impose a 35 percent tariff on imports from Canada, and planned broader tariffs of 15 to 20 percent on other trading partners.

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Except FMCG (up 0.5 percent), pharma (up 0.7 percent), all other sectoral indices ended in the red with auto, IT, media, oil & gas, consumer durables, capital goods, realty, telecom down a percent each.

The biggest Nifty losers were TCS, Bajaj Auto, M&M, Hero MotoCorp, Wipro, while gainers were HUL, SBI Life Insurance, Kotak Mahindra Bank, Axis Bank, IndusInd Bank.

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In stock-specific action, Tata Elxsi shares fell 1.5% after weak Q1 numbers, Anand Rathi shares jumped 4% on reporting 28% jump in Q1 profit, Glenmark Pharma jumped 14% to record high after mega licensing deal for its cancer drug, IREDA shares tank 5.6% as Q1 profit slumps 36%, Zee Entertainment shares declined 3.6% as shareholders rejected promoters' proposal to hike stake, and TCS shares tumbled 3% as Q1 earnings show disappointed some investors.

Index	Prices	Change	Change%
Sensex	85,706.67	-13.71	-0.02%
Nifty 50	26,202.95	-12.60	-0.05%
Nifty Bank	59,752.70	15.40	+0.03%

Nifty 50 26,202.95 -12.60 (-0.05%)

Fri, Nov 28, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
M&M	3,757.30	76.10	+2.07%

Biggest Loser	Prices	Change	Change%
SBI Life Insura	1,966.00	-38.50	-1.92%

Best Sector	Prices	Change	Change%
Nifty Auto	27774.60	170.90	+0.62%

Worst Sector	Prices	Change	Change%
Nifty Energy	35548.30	-207.90	-0.58%

More than 120 stocks on the BSE touched their 52-week highs, including Glenmark Pharma, Asahi India, EID Parry, Ramco Cements, JK Cement, JK Lakshmi Cement, Krishna Institute of Medical Sciences, Nippon Life India Asset Management, among others. Click to View More.

Outlook for July 14

Ajit Mishra – SVP, Research, Religare Broking

Markets traded under pressure on Friday and lost over half a percent, dragged down by weak cues. The session began on a negative note following disappointing results from IT major TCS, which further worsened due to profit-taking in heavyweight stocks across other sectors.

On the sectoral front, all key indices ended in the red, except the defensives—FMCG and pharma. IT, auto, and realty were among the top losers. The broader indices also came under pressure, each declining by nearly a percent.

Sentiment remained subdued due to ongoing uncertainty around tariff-related issues and a weak start to the earnings season. As a result, the Nifty slipped below its first line of defense—the 20-day exponential moving average (20-DEMA)—disrupting the ongoing positive trend. We may now see a phase of consolidation in the index, with upcoming earnings keeping volatility high across sectors. In this environment, traders should exercise greater caution, focus on risk management, and be selective while identifying trading opportunities.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty continues to remain weak as the index slipped below the previous swing low on the hourly chart. Additionally, it has fallen below the 21 EMA on the daily timeframe.

Momentum also remains weak in the short term, with the RSI in a negative crossover. However, after the recent decline, the index has approached the support of the 200-hourly moving average.

A move above 25,150-25,160 in the initial trading hour could trigger a rally towards 25,250 and 25,400. On the downside, support is placed at 25,090 and 24,900.

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