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The tariff war shows no signs of resolution, and its prolonged impact continues to weigh heavily on global cues, leading to persistent uncertainty in the markets.

With no clear trends emerging, the prevailing overhang is disrupting market sentiment and deepening investor confusion. Unless some positive triggers surface soon, it will be difficult to counter the prevailing bearish mindset in the days ahead.

Indian equities extended their losing streak for a fourth straight session on 14 July, with the Nifty slipping below the 25,100 mark amid broad-based selling pressure. The Sensex closed down 247.01 points (0.30%) at 82,253.46, while the Nifty fell 67.55 points (0.27%) to settle at 25,082.30.

Market breadth was nearly evenly split, with 1,991 stocks advancing, 2,020 declining, and 151 ending unchanged.

Financial and technology stocks led the losses on the Nifty, with Jio Financial, Bajaj Finance, Tech Mahindra, Wipro, and Asian Paints coming under pressure. On the other hand, defensives and value-oriented stocks outperformed, with Eternal, Titan Company, IndusInd Bank, ONGC, and SBI Life Insurance topping the gainers list.

Sectorally, performance was mixed. The Nifty IT index dropped 1%, while pharma, consumer durables, media, realty, and PSU bank indices rose between 0.5% and 1%. The broader market fared better, with the BSE Midcap and Smallcap indices each gaining 0.5%.

With benchmarks struggling to regain upward momentum, investors now await fresh triggers to provide direction.

Broader indices struggled to absorb the profit booking that surfaced at the start of the week, with markets continuing to drag despite intermittent rebounds. A brief recovery, driven in part by uncertainty around Trump’s next move, failed to sustain, as the underlying momentum remained weak. Every attempt to push indices into positive territory was met with selling pressure, repeatedly testing bullish conviction.

Volatility remains elevated, making it difficult to form a clear directional bias and leaving markets jittery. Trends remained uncertain, although Bank Nifty showed early signs of upward traction toward the close, lending some support to sentiment. However, the broader upmove lacked conviction.

Earnings season has yet to deliver strong positive surprises, adding to the cautious tone. In an environment driven by ad hoc triggers, markets are likely to remain range-bound and reactive in the near term.

Volatility is now an embedded feature of the current market landscape, keeping sentiment fragile. Risk management remains crucial, given the heightened uncertainty. Global cues continue to exert a strong influence on domestic markets, with the ongoing Trump tariff saga contributing to the churn. In the absence of clear catalysts, the Nifty is likely to oscillate in a range of 25,000 to 25,500 in the coming sessions.

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