Sensex, Nifty snap 4-day losing streak as auto, oil & gas stocks gain; India VIX eases over 1%

Hero MotoCorp, IndusInd Bank, Grasim, Shriram Finance, and Bajaj Auto were the top gainers on the Nifty.

Benchmark indices Nifty and Sensex were off to a slightly positive start on July 15, snapping a four-day losing streak as auto, oil & gas stocks edged higher at open. However, any bounce back today may be more of a breather than a trend reversal, with trade tariff worries still weighing on sentiment.

At about 9:25 am, the Sensex was up 150.45 points or 0.18 percent at 82,403.91, and the Nifty was up 53.70 points or 0.21 percent at 25,136.00. About 2150 shares advanced, 550 shares declined, and 136 shares remained unchanged.

"President Trump's announcement of steep tariffs has injected volatility, but markets remain relatively calm as the fall hasn't been too steep. We believe the tariffs are a negotiating tactic and expect a de-escalation before the August 1 deadline, helping limit downside in equities," Devarsh Vakil, Head of Prime Research at HDFC Securities, said.

Experts also say that FIIs, which have been net buyers in April, May and June, have turned net sellers in July as per the latest data. This has put pressure on large caps. Absence of institutional selling in the broader market is keeping this segment resilient despite the elevated valuations.

At the open on Tuesday, sectoral indices on the NSE were trading largely in the green, indicating a positive start to the day. Nifty Auto gained 0.73 percent, while Nifty Oil & Gas rose 0.77 percent. Broader indices also saw traction, with the Nifty Midcap 100 and Smallcap 100 advancing 0.61 percent and 0.87 percent, respectively. Other notable gainers included Nifty Consumer Durables (0.61 percent), Energy (0.58 percent), Pharma (0.58 percent), and Infra (0.41 percent). Banking indices posted modest gains, while FMCG and Realty were flat. Meanwhile, India VIX edged lower by 0.5 percent to 11.92, suggesting continued investor calm.

Among individual stocks, HCL Tech shares slipped 3 percent after the information technology giant reported disappointing earnings for the first quarter of the current fiscal year. The IT major reported a 10 percent decline in consolidated net profit at Rs 3,843 crore for the quarter ended June 30, 2025, as against Rs 4,257 crore in the year-ago period. However, the IT firm's consolidated revenue from operations rose eight percent to Rs 30,349 crore in Q1FY26 as against Rs 28,057 crore in Q1FY25.

Shares of Sun Pharma rose over a percent, extending their gains for a third straight session. The rally comes after the company settled a patent dispute with US-based Incyte Corporation, clearing the path for the immediate launch of LEQSELVI (deuruxolitinib) in the US.

Tata Technologies rose 2 percent after it reported a net profit of Rs 170.28 crore for Q1 FY26, up nearly 5 percent from Rs 162 crore in the same quarter last year. However, on a sequential basis, net profit declined by around 10 percent. Revenue from operations fell 2 percent year-on-year to Rs 1,244 crore, compared to Rs 1,269 crore in Q1 FY25.

Structurally, market breadth remains feeble, with bulls failing to show commitment. The earlier support zone of 25,200–25,300 has now reversed into a resistance zone. A decisive break below today’s low of 25,001 could further deteriorate the technical setup. On the flip side, only a sustained move above 25,350 could signal the potential for recovery, marking this level as a key hurdle. The momentum indicator RSI has slipped below 50, for the first time in over three months, underscoring weakening bullish strength.

Hero MotoCorp, IndusInd Bank, Grasim, Shriram Finance, and Bajaj Auto were the top gainers on the Nifty. Laggards on the index included HCL Tech, Cipla, Tata Steel, SBI Life Insurance, and ICICI Bank.