Taking Stock | Market ends lower on stronger dollar, weak global cues and inflation fears

Stock Market Today:

Indian equity benchmarks ended lower for the second day in a row on July 12 as a stronger dollar, weak global cues, the likelihood of the US Fed sticking to aggressive rate hikes and worries ahead of the inflation data weighed on sentiment.

At close, the 30-pack BSE Sensex was down 508.6 points, or 0.94 percent, at 53,886.61, while the Nifty ended 157.7 points, or 0.97 percent, lower at 16,058.3.

“Rate hike fears are back in focus in the global markets ahead of the release of CPI numbers as inflationary pressures along with strong US jobs data would keep the Fed on the path of aggressive rate hikes,” said Vinod Nair, Head of Research at Geojit Financial Services.

On the domestic front, retail inflation for the month of June is expected to be at 7.03 percent, maintaining the previous month’s levels.

“Demand concerns amid the rebound of virus cases in China compelled crude to trade lower,” Nair added.

The Indian indices opened gap down and stayed the course, though some buying in the afternoon eased the pressure. But, a negative opening in European markets, dragged the markets down again.

Also read: Stock investors world over look out for hopes in 'imminent' recession, not cause for fright

Stocks and Sectors

Index	Prices	Change	Change%
Sensex	85,720.38	110.87	+0.13%
Nifty 50	26,215.55	10.25	+0.04%
Nifty Bank	59,737.30	209.25	+0.35%

Nifty 50 26,215.55 10.25 (0.04%)

Thu, Nov 27, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bajaj Finance	1,033.80	23.10	+2.29%

Biggest Loser	Prices	Change	Change%
Eicher Motors	6,999.00	-199.50	-2.77%

Best Sector	Prices	Change	Change%
Nifty Bank	59737.30	209.20	+0.35%

Worst Sector	Prices	Change	Change%
Nifty Energy	35756.20	-208.60	-0.58%

All sectoral indices ended in the red except Nifty realty and energy. Metals, auto, IT and FMCG indices were down more than a percent, while the banking & financial services lost close to a percent.

The Nifty energy index gained 0.37 percent and realty 0.1 percent.

The broader market, too, were remained in the negative zone. The BSE midcap lost 0.51 percent, while BSE smallcap index was down by 0.52 percent.

The India VIX, which indicates the degree of volatility traders expect over the next 30 days, was up 0.97 percent from 18.36 to 19.55.

The top losing stocks for the day were Eicher Motors, Hindalco, Infosys, BPCL and Nestle, down between 1.97 and 3.05 percent.

The gainers' pack was led by NTPC, Shree Cements, Bharti Airtel, Adani Ports and Coal India, adding between 0.28 and 1.6 percent.

Also read: Government blows $850-million hole in metal stocks as foreigners flee export duties

Among specific stocks, a short build-up was seen in the stocks of NMDC, Bharat Forge and HPCL, while a long build-up was visible in GSPL, ICICI Lombard General Insurance and Zydus Lifesciences.

Of the 3,467 stocks traded on the BSE, 1,472 advanced, 1,826 declined and 169 remained unchanged.

Outlook for July 13

Shrikant Chouhan, head of Equity Research (retail) , Kotak Securities Ltd

Technically, on the daily charts, the Nifty formed a small bearish candle and a lower high formation on the intraday charts, which indicate further weakness.

For the traders, below 16,150 and 54,200, the short-term texture is weak, below which, the Nifty and Sensex can retest 16,000-15,950 and 53,700-53,500, respectively.

On the flip side, if the Nifty and the Sensex succeed to trade above 16,150 and 54,200, they can touch 16,225-16,250 and 54,500-54,600, respectively.

Mohit Nigam, Head-PMS, Hem Securities

A recent CRISIL report has said that investors should brace themselves for Q1FY23 earnings of Indian Inc to be hit. However, investor sentiments got a boost after commerce and industry minister Piyush Goyal said that country’s exports are likely to remain in a moderate range for FY23.

India’s retail inflation data may remain stable but above the RBI’s tolerance as lower fuel and cooking oil prices would likely be offset by the increase in services and food costs.

On the technical front, the key resistance level for the Nifty is 16,200 and on the downside, 15,800 can act as strong support. The key support and resistance levels for the Bank Nifty are 34,000 and 35,800.

Also read: Rupee down 15 paise to all-time low of 79.60 against US dollar

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

After the short-term bounce in the previous week, the Nifty had reached the junction of its daily upper Bollinger Band, the upper end of a falling channel on the daily chart as well as the upper end of a rising channel on the hourly chart. Thereon, it stepped into a brief consolidation mode.

In terms of the Fibonacci retracement, the index attempted to stretch beyond 61.8 percent of the June fall but couldn’t sustain in the higher territory. The consolidation range has been 16,000-16,275.

The index is now approaching the lower end of the consolidation range, which is 16,000 and needs to be monitored closely on a closing basis. A breach of 16,000 on a closing basis will drag the index into a short-term correction mode.

Ajit Mishra, VP-Research, Religare Broking Ltd

The markets will on July 13 react to the inflation data of India and the US in early trade. Besides, the earnings announcement from some of the IT majors would also be in focus. We recommend focusing on stock-specific opportunities with a bias on the positive side.

Disclaimer: The views and investment tips of experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.