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.
Nearly 140 stocks on the BSE touched their 52-week highs, including Glenmark Pharma, UTI AMC, Krishna Institute of Medical Sciences, Laurus Labs, UltraTech Cement, SRF, LT Finance, Navin Fluorine, among others
Volatility remained subdued as India VIX slipped over 2 percent to 11.68. Experts note that it continues to stay well below the psychological mark of 15, indicating a sense of calm and stability among investors.
Gold rate today: Yellow metal's August contracts on the MCX opened at Rs 96,548 per 10 grams on July 10.
The broader markets slipped into the red with the Nifty Midcap 100 falling for a fifth consecutive session
India VIX rose 1 percent but remained well below its psychological threshold of 15. The continued low volatility environment indicates subdued fear in the market in the near term.
In the previous session, the markets ended lower amid selling in IT and oil & gas stocks, as participants grew cautious ahead of the earnings season and the anticipated trade announcement.
Bharti Airtel, HDFC Life, Asian Paints, Apollo Hospitals, Shriram Finance were among major losers on the Nifty, while gainers were IndusInd Bank, Maruti Suzuki, Tata Steel, Bajaj Finance, Bajaj Finserv.
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.
Equity frontline indices Nifty 50 and Sensex have been consolidating for the past nine sessions, as investors look for fresh triggers to guide buying and selling activity.
According to experts, market participants should avoid complacency, instead maintain their focus on stock selection, as sectoral participation continues on a rotational basis.
The pharma sector will be in focus on July 9, after Donald Trump said that he would make an announcement on pharmaceuticals tariffs soon.
Biggest Nifty losers included Tata Steel, HCL Technologies, Hindalco Industries, Apollo Hospitals, Tech Mahindra, while gainers were Shriram Finance, Bajaj Finance, HUL, UltraTech Cement, Coal India. In 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. The BSE midcap index was ended flat, while smallcap index added 0.5 percent.
In June, a total of 10 SME IPOs saw an over-subscription in excess of 100 times each, with four of those clocking subscription well-above 200 times.
The mini trade deal between India and US will likely be announced today by 10 pm, according to reports, giving investors something to cheer.
Gold rate today: Yellow metal's August contracts on MCX opened at Rs 97,172 per 10 grams on July 8.
Trump mentioned that the US is close to making a trade deal with India. Experts say that if the India-US trade deal is announced, Indian markets will experience a relief rally.
India VIX, also known as the fear gauge, slipped 1 percent and remained below 15 levels, signalling reduced fears in the market.
In the previous session, Indian equities remained range-bound as traders stayed cautious ahead of fresh triggers such as trade deals and Q1 earnings.
Closing Bell | Among sectoral laggards, Nifty Consumer Durables was the top loser, falling over 2 percent. Nifty Pharma, Auto, and FMCG also traded lower. On the gaining side, Nifty Private Bank rose 0.5 percent, followed by Nifty IT and Nifty Realty, which ending in the range of 0.3 to 1 percent.
Nearly 150 stocks on the BSE touched their 52-week highs, including Glenmark Pharma, LT Finance, Apollo Hospitals, Navin Fluorine, EID Parry, Fortis Healthcare, Laurus Labs, Muthoot Finance, Ramco Cements, Kama Holdings, among others.
Gold rate today: Yellow metal's August contracts on the MCX opened at Rs 96,485 per 10 grams on July 7.
While the domestic equity market has risen over the past few months, experts note that it has still experienced both time and price corrections from its lifetime highs.
According to experts, a large portion of the rally was supported by growing expectations that global central banks would begin easing policy rates.
SEBI’s recent actions and public statements indicate a clear intent to prioritise market stability and investor protection, even if it means imposing stricter controls on sophisticated market participants, said Hedged's Rahul Ghose.
