Closing Bell: Nifty below 25,150, Sensex down 700 pts; pharma, FMCG buck the trend

Market Close | Sensex down 390 pts, Nifty below 25200

Indian equity indices ended on a negative note with Nifty at 25,150 on July 11. 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.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

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.

Prashanth Tapse, Senior VP (Research), Mehta Equities

While weak European market cues and negative US Dow Futures weighed on sentiment, the disappointing start to earnings season by software major TCS cautioned investors about the sluggish global demand scenario that led to heavy selling in IT, telecom, auto, realty and oil & gas stocks. While all eyes will be on the outcome of the trade negotiations with the US, markets could see increased volatility in the near term.

Vaibhav Vidwani, Research Analyst at Bonanza

Today, the Indian stock market closed sharply lower with the Nifty 50 ending at 25,149, down about 0.81% or 205 points from the previous close. The BSE Sensex also fell by nearly 689 points, or 0.8%, closing around 82,500. The key reason for this negative closing was significant selling pressure in IT stocks following disappointing Q1 earnings results from major players like TCS, which weighed heavily on the Nifty IT index that tumbled around 1.7%.

Other sectors under pressure included autos, with the Nifty Auto index down about 1.77%, while defensive sectors such as Pharma and FMCG managed modest gains of around 0.55% each. Broader markets also saw declines.

The market sentiment was further dampened by concerns over global headwinds including tariff uncertainties related to US trade policies and subdued global economic outlook, which have raised worries about export growth and corporate earnings momentum. Profit booking and cautious investor stance ahead of upcoming earnings announcements also contributed to the decline.

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 1 percent each....Read More

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.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

Rupee traded weak by 0.11% at 85.73 as capital market weakness, along with higher Gold and Silver prices and weak global cues, weighed on sentiment. The rise in tariffs from the US on Brazil and Canada has added uncertainty, and markets will remain cautious until constructive trade talks emerge.

Additionally, the dollar index has shown recovery, rising from 96.50 to 97.75, which has added pressure on emerging market currencies. Rupee is expected to trade in a range of 85.25 to 86.20.

Vinod Nair, Head of Research, Geojit Investments

The domestic market experienced a negative close due to a sober start to Q1 earnings season and a ramp-up in the tariff threat by the US to impose a 35% tariff on Canada. Investors may continue to be focused on quarterly earnings for a buy-on-dips strategy; however, in the near term, the current premium valuation and the global headwinds like low spending & tariff uncertainties may restrain new inflows. The IT index underperformed due to deferment in orders and new investments, which may impact FY26 earnings estimates.

Market This Week

Market slips for 2nd straight week, Sensex & Nifty down 1% each

IT has been biggest Nifty drag, HCL, TCS & Wipro amongst top losers

FMCG is top gaining index while IT & Capital market fall the most

Midcap falls in-line with benchmarks while Nifty Bank relatively outperforms

Nifty Midcap index is down 1.6% & Nifty Bank 0.5%

Currency Check | Rupee closes lower at 85.80

Indian rupee ended 16 paise lower at 85.80 per dollar on Friday versus previous close of 85.64.

Market Close | Nifty at 25,150, Sensex down 690 pts; pharma, FMCG buck the trend

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. About 1510 shares advanced, 2341 shares declined, and 150 shares unchanged.

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.

BSE Midcap and smallcap indices shed 0.6 percent each.

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 1 percent each.

Brokerage Call | Nomura retains 'neutral' rating on TCS, target cut to Rs 3,780 from Rs 3,820

#1 Growth visibility for FY26 is still hazy

#2 Constant currency lower than the consensus estimate

#3 Company continues to expect FY26 to be better than FY25 for major markets

#4 Significant margin improvement in FY26 is unlikely

#5 Cut FY26-28 EPS estimates by 1-2 percent

Sensex Today | Ritesh Tiwari likely to step down as HUL CFO: Sources to CNBC-TV18

Brokerage Call | Nomura retains 'neutral' rating on TCS, target cut to Rs 3,780 from Rs 3,820

#1 Growth visibility for FY26 is still hazy

#2 Constant currency lower than the consensus estimate

#3 Company continues to expect FY26 to be better than FY25 for major markets

#4 Significant margin improvement in FY26 is unlikely

#5 Cut FY26-28 EPS estimates by 1-2 percent

IPO Check | Smartworks Coworking Spaces IPO subscribed at 1.03 times at 3:10 PM (Day 2)

QIB – 0.63 times

NII - 1.7 times52

Retail – 1.04 times

Employee Reserved - 0.91

Overall – 1.03 times

Brokerage Call | Morgan Stanley remains ‘underweight’ on Tata Elxsi, target at Rs 4,660

#1 Another quarter of a miss on low expectations

#2 Company sounded constructive & hopeful of recovery driven by autos & media

#3 Stock outperformed most peers since April despite earnings downgrade cycle

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee fell against the US Dollar by nearly 20 paise on weak domestic markets and risk off sentiments amid trade tariff uncertainty. Global market sentiments dented as US President imposed 35% tariffs on Canadian goods. US weekly unemployment claims fell to 227,000 vs forecast of 236,000 and 232,000 jobs in the week prior.

We expect Rupee to weaken on as the trade war continues to dent global risk sentiments. Uncertainty over trade tariffs and higher US Dollar index may also pressurise the Rupee. However, a weak tone in crude oil prices may support the Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 85.55 to Rs 86.25.

Currency Check | Rupee trades lower at 85.84

Indian rupee is trading 20 paise lower at 85.84 per dollar on Friday versus previous close of 85.64.

Markets@3 | Sensex down 620 points, Nifty below 25200

The Sensex was down 620.06 points or 0.75 percent at 82,570.22, and the Nifty was down 186.25 points or 0.73 percent at 25,169. About 1316 shares advanced, 2173 shares declined, and 116 shares unchanged.

Anubhav Sangal, Sr. Research Analyst at Bonanza

Shares of Hindustan Unilever Ltd jumped nearly 4.5% after the company named Priya Nair as its new Managing Director and CEO, marking a historic moment as she becomes the first woman to lead the FMCG major in its 92-year history.

Investors are optimistic because Nair brings a strong track record of transforming underperforming segments into profit drivers. As Executive Director of Home Care from 2014 to 2020, she led a turnaround that lifted the segment’s EBIT margin by 570 basis points, from 13.1% in FY14 to 18.8% in FY20. This improvement played a key role in raising HUL’s overall EBIT margin from 15.0% to 22.3%. More recently, she headed Unilever’s €13.2 billion Beauty and Wellbeing business, managing powerhouse brands like Dove and Sunsilk, and driving a strategic shift towards premium categories.

Investors view this leadership change as a positive signal that blends continuity with fresh perspective and will help HUL navigate competition, accelerate digital transformation, and reinforce its leadership in India’s consumer goods space.

Sensex Today | BSE FMCG index rises 0.4%; Cupid, VST Industries , Globus Spirits, among top gainers

Sensex Today | India Volatility index rises 1.5%

Stock Markets LIVE Updates | Adani Energy's Q1 collection efficiency jumps to 98.29% versus 96.89%, YoY 

Adani Energy Solutions was quoting at Rs 880.00, down Rs 10.30, or 1.16 percent.

It has touched an intraday high of Rs 897.25 and an intraday low of Rs 876.75.

It was trading with volumes of 29,202 shares, compared to its five day average of 80,178 shares, a decrease of -63.58 percent.

In the previous trading session, the share closed down 0.02 percent or Rs 0.15 at Rs 890.30.

The share touched a 52-week high of Rs 1,347.90 and a 52-week low of Rs 588.25 on 01 August, 2024 and 27 November, 2024, respectively.

Currently, the stock is trading 34.71 percent below its 52-week high and 49.6 percent above its 52-week low.

Market capitalisation stands at Rs 105,712.87 crore.

Sensex Today | 2 million shares of NTPC traded in another block: Bloomberg

NTPC was quoting at Rs 342.70, up Rs 1.40, or 0.41 percent. It has touched an intraday high of Rs 343.95 and an intraday low of Rs 340.

It was trading with volumes of 310,774 shares, compared to its five day average of 486,117 shares, a decrease of -36.07 percent.

In the previous trading session, the share closed down 0.73 percent or Rs 2.50 at Rs 341.30.

The share touched a 52-week high of Rs 448.30 and a 52-week low of Rs 292.70 on 30 September, 2024 and 17 February, 2025, respectively.

Currently, the stock is trading 23.56 percent below its 52-week high and 17.08 percent above its 52-week low.

Market capitalisation stands at Rs 332,304.75 crore.

Dinesh Thakkar Founder, Chairman and MD - Angel One

Following recent regulatory action on a global participant, there’s been much speculation about what this means for retail activity in India’s capital markets. Around the same time, SEBI’s recent report on retail investor outcomes in the derivatives segment has rightly sparked conversations around investor protection and market behaviour.

I had stated that “with millions of active retail traders and deepening institutional activity, India’s market opportunity is structural, not cyclical…”

Over the past five years, we’ve seen something far more powerful than trading volumes. Retail participation in India is no longer fragile. It’s foundational. We’ve witnessed confidence, consistency, and conviction from a new generation of Indian investors across SIPs, ETFs, equity ownership, and market breadth.

This isn’t headline-driven momentum. It’s a structural shift. Retail India is not just trading. Retail India is owning and as that ownership compounds in value, they’re not stepping away. They’re staying in, trading and investing with purpose.

Brokerage Call | UBS maintains ‘buy’ rating on TCS, target cut to Rs 3,950 from Rs 4,050

#1 Stock price has underperformed its large Indian peers over last 5 years

#2 Stock underperformance on de-rating as revenue conversion is slow

#3 Believe market will look at TCS growth ex-BSNL

#4 It can still deliver industry average growth in FY26

#5 Q1 revenue miss largely due to BSNL deal ramp-down

#6 Current valuations give comfort & see limited downside

In a recent note, the domestic brokerage firm maintained its ‘buy’ rating on Suzlon Energy with a price target of Rs 82 per share....Read More

IPO Check | Smartworks Coworking Spaces IPO fully subscribed at 2:25 pm (Day 2)

Total - 1.04 times

QIB - 0.64 times

NII - 1.55 times

Retail - 1.04 times

Employee - 0.89 times

Jefferies highlighted 11 stocks amongst its India coverage universe, which the brokerage believes offer value even in the current overvaluation scenario....Read More

Smartworks IPO GMP: Ahead of listing, the unlisted shares of the company were trading with a GMP in the range of 6-8%...Read More

Sensex Today | Puravankara reports 6% rise in Q1 sales to Rs 1,124 crore, clocks 9% jump in average realisation despite volume dip

SEBI has alleged that Jane Street manipulated key indices like Nifty 50 and Bank Nifty on expiry days....Read More

Markets@2 | Sensex down 647 points, Nifty below 25200

The Sensex was down 647.04 points or 0.78 percent at 82,543.24, and the Nifty was down 192.65 points or 0.76 percent at 25,162.60. About 1270 shares advanced, 2184 shares declined, and 118 shares unchanged.

Sensex Today | 1.04 million shares of NTPC changes hands in block trade: Bloomberg

NTPC was quoting at Rs 342.90, up Rs 1.60, or 0.47 percent.

It has touched an intraday high of Rs 343.95 and an intraday low of Rs 340.00.

It was trading with volumes of 295,409 shares, compared to its five day average of 486,117 shares, a decrease of -39.23 percent.

In the previous trading session, the share closed down 0.73 percent or Rs 2.50 at Rs 341.30.

The share touched a 52-week high of Rs 448.30 and a 52-week low of Rs 292.70 on 30 September, 2024 and 17 February, 2025, respectively.

Currently, the stock is trading 23.51 percent below its 52-week high and 17.15 percent above its 52-week low.

Market capitalisation stands at Rs 332,498.68 crore.

Stock Markets LIVE Updates | 2.32 million shares of Eternal traded in a block: Bloomberg

Eternal was quoting at Rs 264.40, up Rs 1.60, or 0.61 percent. It has touched an intraday high of Rs 264.75 and an intraday low of Rs 259.55.

It was trading with volumes of 4,438,892 shares, compared to its five day average of 2,357,194 shares, an increase of 88.31 percent.

In the previous trading session, the share closed down 0.64 percent or Rs 1.70 at Rs 262.80.

The share touched a 52-week high of Rs 304.50 and a 52-week low of Rs 189.60 on 09 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 13.17 percent below its 52-week high and 39.45 percent above its 52-week low.

Market capitalisation stands at Rs 255,155.27 crore.

Stock Markets LIVE Updates | Popular Vehicles gets LOI to set up Ather facilities in Chennai, Tamil Nadu

Popular Vehicles & Services' 100% step down subsidiary Kuttukaran Cars has received a Letter of Intent (LOI) for setting up Ather facilities in Chennai, Tamil Nadu.

The facilities will be spread across two locations — one housing the Experience Centre, and the other accommodating the Service Centre and warehouse. The service centre will initially feature 5 bays, with capacity to service approximately 450 vehicles per month. Operations are expected to commence by the first week of September this year. Total investment for setting up these facilities is estimated at around Rs 75 Lakhs.

Sensex Today | Nifty Midcap index extend fall on 6th day

Sensex Today | Tata Steel picks 124 crore equity shares of T Steel Holdings

Tata Steel acquired 124,62,68,657 equity shares of face value USD 0.1005 each aggregating to USD 125.25 million (Rs 1,073.63 crore) in T Steel Holdings Pte. Ltd (TSHP’) Post this acquisition, TSHP will continue to be a wholly owned foreign subsidiary of the company.

IPO Check | Smartworks Coworking Spaces IPO subscribed at 0.98 times at 1:50 PM (Day 2)

QIB – 0.63 times

NII - 1.47 times

Retail – 0.97 times

Employee Reserved - 0.83

Overall – 0.98 times

Sensex Today | BSE Smallcap index snaps 2-day gains; down 0.7%

Stock Market LIVE Updates | Glenmark Pharmaceuticals in licensing agreement with AbbVie

IGI Therapeutics SA, a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation, Inc. (IGI), and AbbVie have announced an exclusive licensing agreement for IGI’s lead investigational asset, ISB 2001. The drug was developed using IGI’s proprietary BEAT protein platform for oncology and autoimmune diseases.

Under the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. Subject to regulatory clearance, IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales. Ichnos Glenmark Innovation (IGI) is a strategic alliance between Glenmark Pharma and Ichnos Sciences Inc.

Brokerage Call | JPMorgan keeps ‘overweight’ rating on HUL, target at Rs 2,500

#1 Priya Nair is a Unilever Veteran with over 30 years of work experience

#2 Majority of 30 years term with company, she spent in India across various managerial roles

#3 Growth initiatives & drive towards improving volumes will benefit from her experience

Currency Check | Rupee trades lower

Indian rupee is trading 20 paise lower at 85.84 per dollar versus previous close of 85.64.

Sensex Today | Nifty Pharma index up 0.7%; Glenmark Pharma, Alkem Lab, Mankind Pharma, among top gainers

Stock Markets LIVE Updates | Krystal Integrated bags Rs 31.55 crore manpower services order for Maha Mumbai Metro

Krystal Integrated Services has been awarded Rs 31.55 crore order for attendant manpower services of Maha Mumbai Metro Operation Corp. Ltd. (MMMOCL).

Stock Markets LIVE Updates | Bacil Pharma's CFO Jayesh Patil resigns

Stock Markets LIVE Updates | Mahindra Logistics to raise Rs 750 crore via rights issue

The Board of Directors of Mahindra Logistics at its meeting held on Friday, 11 July 2025, has  approved fund raising by way of offer and issuance of fully paid-up equity shares of the Company of face value of Rs 10 each for an amount not exceeding Rs 750 crore by way of a rights issue.

Sensex Today \\ BSE FMCG index erases previous day losses, up 0.4%

Stock Markets LIVE Updates | Mankind Pharma shares gain most in 16 week; rises on fourth day

Mankind Pharma was quoting at Rs 2,599.90, up Rs 56.50, or 2.22 percent.

It has touched an intraday high of Rs 2,679 and an intraday low of Rs 2,550.

It was trading with volumes of 87,070 shares, compared to its five day average of 23,200 shares, an increase of 275.30 percent.

In the previous trading session, the share closed up 0.72 percent or Rs 18.10 at Rs 2,543.40.

The share touched a 52-week high of Rs 3,050 and a 52-week low of Rs 1,910.10 on 23 December, 2024 and 05 August, 2024, respectively.

Currently, the stock is trading 14.76 percent below its 52-week high and 36.11 percent above its 52-week low.

Market capitalisation stands at Rs 107,305.35 crore.

Stock Market LIVE Updates | Zee Entertainment fails to secure shareholder votes for fundraising

Zee Entertainment Enterprises failed to secure the required shareholder votes to raise funds by issuing warrants, blocking plans by the founding Goenka family to increase their stake in the broadcaster.

Only 59.5% of participating shareholders supported the resolution—falling short of the 75% majority required for approval, according to a report by Reuters.