Taking Stock | Market flashes red again; Sensex down 98 points, Nifty slips below 16,000

Indian equity markets ended lower for the fourth consecutive day on July 14 amid selling in information technology and banking names and weak global cues.

At close, the Sensex was down 98 points, or 0.18 percent, at 53,416.15, and the Nifty was down 28 points, or 0.18 percent, at 15,938.70.

Indian shares opened higher and extended gains in the first few hours but mid-session selling across sectors dragged the indices into the red.

“Tracking weak cues in global markets, Indian indices gave away their initial gains amid concerns over higher-than-expected US inflation data. Investors are increasingly expecting the Fed to carry out a minimum 75bps rate hike this month in order to combat high inflation,” said Vinod Nair, Head of Research at Geojit Financial Services.

On the domestic front, India’s wholesale price index (WPI) inflation moderated in June and is expected to ease further during the year, he added.

The WPI inflation declined to 15.18 percent in June, data released by the commerce ministry earlier in the day showed. The WPI inflation was at 15.88 percent in May, the highest in at least three decades. In June 2021, it stood at 12.07 percent.

ONGC, Sun Pharma, Kotak Mahindra Bank, Dr Reddy’s Labs and Maruti Suzuki were among the top Nifty gainers, while losers included Hero MotoCorp, Axis Bank, HCL Technologies, Tech Mahindra and SBI.

On the sectoral front, information technology and PSU bank indices fell 1-2 percent, while the energy index gained a percent.

Index	Prices	Change	Change%
Sensex	85,063.34	-376.28	-0.44%
Nifty 50	26,178.70	-71.60	-0.27%
Nifty Bank	60,118.40	74.20	+0.12%

Nifty 50 26,178.70 -71.60 (-0.27%)

Tue, Jan 06, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Apollo Hospital	7,348.00	265.00	+3.74%

Biggest Loser	Prices	Change	Change%
Trent	4,047.60	-382.20	-8.63%

Best Sector	Prices	Change	Change%
Nifty Pharma	23126.80	383.40	+1.69%

Worst Sector	Prices	Change	Change%
Nifty Infra	9611.60	-115.05	-1.18%

Also read: Trade deficit rises to $26.1 billion in June as imports surge, up 172% YoY

Stocks and sectors

On the BSE, the information technology index shed a percent and selling was also seen in the banking and metal sectors. The oil & gas index rose 1.6 percent and power gained a percent.

BSE midcap and smallcap indices ended in the red.

A long build-up was seen in Petront LNG, Bharat Forge and HPCL, while a short build-up was seen in Birlasoft, Persistent Systems and Jubilant FoodWorks.

Among individual stocks, a volume spike of more than 200 percent was seen in Bharat Forge, Zydus Lifesciences and United Spirits.

On the BSE, PC Jeweller, TCPL Packaging, Varun Beverages touched their 52-week highs. Wipro, TCS, Birlasoft, NMDC, HCL Technologies and Gland Pharma sank to a 52-week low.

Also read: Bharti Airtel approves preferential allotment of 7.11 crore shares to Google

Outlook for July 15

Ajit Mishra, VP-Research, Religare Broking

Markets remained volatile on the weekly expiry day and settled with a marginal cut.

Besides global headwinds, the domestic cues are also portraying a mixed picture. On the benchmark front, it’s critical for the Nifty to hold 15,900 or the bias will shift sideways to negative.

While most sectors are trading in tandem with the benchmark and drifting lower, defensive like FMCG and pharma are still holding strong. Participants should maintain a cautious stance and align their positions accordingly.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

The market is following the herd mentality, with most global indices exhibiting weakness, prompting domestic investors to further prune holdings in equities.

Investors offloaded their holdings in frontline technology stocks on worries that a slowdown in the US and other western markets could squeeze the margins of Indian IT companies.

Technically, the Nifty has been consistently trading below 16,000 and the 50-day simple moving average (SMA) mark, which is negative.

On intraday charts, the index is holding on to a lower top formation, which indicates short-term weakness.

For the bulls, 16,000 will be the key resistance level and above it, the index can move to 16,100-16,150. On the lower side, 15,850 will be the key support and if it is broken, the index can slide to 15,800-15,725.

Rupak De, Senior Technical Analyst, LKP Securities

The Nifty corrected towards the lower band of the rising channel before closing off the day's low. On the daily chart, the index remained below important moving averages.

The daily RSI is in a bearish crossover. On the lower end, the index may find support at 15,850-15,875. On the higher end, resistance is visible at 16,100.

Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.