Taking Stock: Nifty below 25,500, Sensex slips as metal, realty and energy drag

On the sectoral front, Metal, Realty and Oil & Gas indices down 1.4 percent each, media, IT, PSU Bank down 0.5 percent each, while FMCG, auto, Consumer Durables up 0.3-0.8 percent.

Nifty Pharma index ended flat even as US President Trump threatened to levy 200 percent tariff on all pharmaceutical imports.

Read More: IT stocks drop up to 1.5% ahead of TCS Q1 results tomorrow

In stock-specific action, Phoenix Mills shares fell 3% after Nomura flagged off slowing growth and valuation concerns, Union Bank of India shares fell 3.6% on weak Q1 business update, Godrej Properties shares fell 2.4% after a 'Reduce' call from Nomura, Delhivery shares ended higher by 2.5% on Motilal Oswal's 'buy' rating, Synergy Green shares gained nearly 5% on order win and Bajel Projects share price jumped 5% on capacity addition.

Nearly 120 stocks on the BSE touched their 52-week highs, including Global Health, Krishna Institute of Medical Sciences, MRF, Laurus Labs, Krishna Inst, Navin Fluorine, Ramco Cements, among others. Click to View More

New Listing

Crizac shares ended with healthy 25.5 percent gain after listing with 14 percent premium following a near 60x subscription of its Rs 860 crore public issue.

Outlook for July 10

Aditya Gaggar Director of Progressive Shares

A rangebound activity was witnessed for most part of the session, but a sudden fall in the last session dragged the Index lower to close the trade at 25,476.10 with a loss of 46.40 points. FMCG was the top gainer, followed by Auto, whereas Realty and Metal declined by over 1.40% each. A mixed trend was seen among the Broader markets, where Midcaps more or less moved in tandem with Nifty50, while Smallcaps outperformed. Despite the Flag and Pole formation breakout, the Index failed to capitalise on the positive momentum and formed a bearish candle. In terms of levels, 25,580 and 25,430 will continue to act as immediate resistance and support, respectively.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded in a volatile but in a narrow range and ended marginally lower, extending the ongoing consolidation phase. After an initial dip, the Nifty attempted to recover in the first half; however, a sharp decline in select heavyweights during the final hours derailed the recovery and dragged the index lower. Eventually, the Nifty settled at 25,476.10, down by 0.18%.

On the sectoral front, the mixed trend persisted—FMCG and auto sectors edged higher, while realty, metal, and IT were among the top losers. The broader market also reflected a mixed performance, with the small-cap index gaining over half a percent, while the mid-cap index ended almost flat.

While the tariff-related concerns linger, the focus now shifts to the earnings season, with IT major, TCS, scheduled to announce its results on Thursday, July 10. Additionally, the weekly expiry could add to the choppiness. Amid all this, we maintain our bullish stance and recommend continuing with a “buy on dips” strategy, with a strong emphasis on stock selection.

Rupak De, Senior Technical Analyst at LKP Securities

Nifty witnessed range-bound movement after a strong upmove, facing stiff resistance around 25,500–25,550. On the hourly chart, the index has slipped below the 50-hour simple moving average, while the RSI has also moved below the 50 mark, indicating weakening momentum. However, it continues to hold above the breakout zone of 25,200–25,250, which may act as immediate support in the short term. As long as this level is sustained, the broader trend remains positive. A sustained move above 25,550 could trigger fresh upside.

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