The Sensex declined 371.9 points (–0.45%) to 83,164.18, while the Nifty 50 fell 128.05 points (–0.5%) to 25,348.05.
Gaurav Garg,
Lemonn Markets Desk
Mumbai, July 10, 2025: "Dalal Street ended in the red on Thursday, as investors remained cautious ahead of two key events—U.S. President Donald Trump’s upcoming tariff announcement and the start of India’s Q1FY26 earnings season, with TCS scheduled to report results post market hours. The Sensex declined 371.9 points (–0.45%) to 83,164.18, while the Nifty 50 fell 128.05 points (–0.5%) to 25,348.05.
Broader markets mirrored the weakness, with the Nifty Midcap and Smallcap indices slipping 0.42% and 0.36%, respectively. Sectorally, IT stocks led the decline, with the Nifty IT index down 0.87%, as investors trimmed positions ahead of TCS earnings. Pharma and PSU Banks also edged lower, while metal stocks bucked the trend, with the Nifty Metal index gaining 0.45%.
Among key movers, Maruti Suzuki, Tata Steel, Bajaj Finance, Tata Motors, and UltraTech Cement were top gainers, while Bharti Airtel, BEL, Asian Paints, Infosys, and Tech Mahindra were major drags. Market attention now shifts to TCS earnings and global developments for further directional cues."
Shrikant Chouhan, Head Equity Research, Kotak Securities, adds:
Today, the benchmark indices witnessed selling pressure at higher levels. The Nifty ends 121 points lower, while the Sensex was down by 346 points. Among sectors, intraday buying was seen in selective Reality and Metal stocks, whereas the Defense index was the top loser, shedding nearly 2 percent.
Technically, after a muted open, the market experienced consistent selling pressure throughout the day at higher levels. It also formed a bearish candle on daily charts and is exhibiting a lower top formation on intraday charts, which is largely negative.
We are of the view that the intraday market outlook is weak; however, a fresh selloff is possible only after the dismissal of 25,300/83,000. Below these levels, the market could slip to 25,200/82,700. Further selling pressure may continue, potentially dragging the market down to 25,225/82,500.
On the upside, above 25,450/83,400, we could see a quick intraday rally toward 25,550–25,650/83,700–84,000.
