Sensex drops 176 points, Nifty 50 ends below 25,500— 10 key highlights from Indian stock market today

Indian stock market benchmarks ended in the red on Wednesday, July 9, as uncertainty over US tariffs kept investors away from riskier equities. Caution ahead of the Q1FY26 earnings season also added pressure on the market.

The Sensex snapped its three-day winning streak to close at 83,536.08, down 176 points, or 0.21 per cent. The Nifty 50 settled with a loss of 46 points, or 0.18 per cent, at 25,476.10.

The BSE Midcap index slipped 0.05 per cent, but the Smallcap index clocked a decent gain of 0.45 per cent.

The domestic market benchmark ended with losses as investors booked profits in select heavyweights, including Reliance Industries and ICICI Bank, amid persisting uncertainty over US tariffs.

US President Donald Trump has extended the tariff deadline to August 1 from July 9. On Tuesday, Trump said a deal with India was very close. However, the final shape of the deal is still unclear.

India and the US have pushed back their deadline to finalise the trade deal from the earlier 9 July cutoff to mid-July.

Another key factor weighing on market sentiment is the start of Q1FY26 results. IT major TCS will announce its June quarter earnings on Thursday, July 10.

"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," said Ajit Mishra, SVP of Research at Religare Broking.

Shares of Shriram Finance (up 1.76 per cent), Bajaj Finance (up 1.44 per cent) and Coal India (up 1.31 per cent) closed as the top gainers in the Nifty 50 index.

HCL Technologies (down 2.05 per cent), Hindalco Industries (down 1.83 per cent) and Tata Steel (down 1.71 per cent) ended as the top losers in the index. In the index, 29 stocks ended with losses.

Most sectoral indices ended lower. Nifty Realty (down 1.49 per cent), Metal (down 1.40 per cent), Oil & Gas (down 1.25 per cent) and IT (down 0.78 per cent) ended with significant losses.

On the other hand, FMCG (up 0.80 per cent) and Consumer Durables (up 0.48 per cent) clocked decent gains.

Nifty Bank slipped 0.07 per cent, while Nifty PSU Bank (down 0.43 per cent) and Private Bank (down 0.02 per cent) also ended in the red.

Nifty Financial Services, however, ended 0.15 per cent higher.

Jaiprakash Power Ventures (41.5 crore shares), Vodafone Idea (34.1 crore shares), and RattanIndia Power (21.7 crore shares) were the most active stocks in terms of volume on the NSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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