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Indian stock market benchmarks- the Sensex and the Nifty 50- ended almost flat on Wednesday, July 16, amid mixed global cues.

The Sensex ended the day 64 points, or 0.08 per cent, up at 82,634.48, while the Nifty 50 settled at 25,212.05, up 16 points, or 0.06 per cent.

The BSE Midcap index, ending 0.10 per cent higher, remained largely in sync with the benchmark index. However, the BSE Smallcap index ended with a decent gain of 0.28 per cent.

The overall market capitalisation of BSE-listed firms stood slightly above ₹461 lakh crore on Wednesday, compared to ₹460.3 lakh crore in the previous session.

The domestic market remained lacklustre as weak Q1 earnings trends, lingering tariff-related concerns, and stretched valuations dominated investors' minds.

The market is witnessing stock-specific action as investors are buying and selling stocks across sectors. 

Infosys, Mahindra and Mahindra, SBI and ITC ended as the top contributors to the gains in the Sensex index. On the other hand, ICICI Bank, Eternal, Sun Pharma and TCS ended as the top drags.

India’s strong macroeconomic outlook supports the market, but delayed earnings recovery is keeping the risk appetite low.

"India’s macroeconomic outlook remains strong, supported by easing inflation, lower interest rates, a healthy monsoon, and softer oil prices. A drop in inflation in eight straight months has provided a push to the market. However, investors are showing a mix of optimism and caution in the relief rally to assess the Q1FY26 corporate earnings, as an upgrade in earnings is essential in the premium valued stock market," Vinod Nair, the head of research at Geojit Investments Limited, noted.

"Global sentiment is mixed amid tariff concerns and fading hopes of a near-term US Fed rate cut on account of sticky inflation, adding market uncertainty," said Nair.

Mahindra & Mahindra (up 2.38 per cent), Wipro (up 2.18 per cent), and Tech Mahindra (up 1.87 per cent) closed as the top gainers in the Nifty 50 index.

Shriram Finance (down 2.37 per cent), Eternal (down 1.63 per cent) and Sun Pharma (down 1.36 per cent) ended as the top losers in the index.

The Nifty PSU Bank index rose 1.81 per cent, with stocks such as Punjab National Bank (PNB), Punjab & Sind Bank, and Canara Bank rising 2 per cent. All components of the index ended higher.

The Media index also clocked a healthy gain of 1.31 per cent. Nifty IT (up 0.63 per cent), Realty (up 0.50 per cent), FMCG (up 0.45 per cent), and Auto (up 0.44 per cent) also ended with healthy gains.

The Nifty Bank index rose 0.28 per cent, while the Private Bank index (up 0.03 per cent) closed almost flat.

Vodafone Idea (63 crore shares), Jaiprakash Power Ventures (32.21 crore shares), and Network18 Media & Investments (31.84 crore shares) were the most active stocks in terms of volume on the NSE.

20 Microns, Fischer Medical Ventures, Magellanic Cloud, Deccan Cements, and Bluspring Enterprises were among the 12 stocks that surged more than 10 per cent 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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