The Indian stock markets began trading on Monday on a muted note. Both benchmark indices, Sensex and Nifty, slipped in the pre-open session. As of 9:01 AM, the BSE Sensex tanked close to 500 points and stood below 82,950, while the NSE Nifty50 plummeted 250 points and tested 25,200.
As markets opened, both indices managed to pare the losses, but remained in red. The Sensex opened at 83,388.28, falling close to 50 points, while the Nifty stood at 25,436, losing about 11 points, as of 9:15 AM. On the 30-share Sensex, HUL, Asian Paint, Reliance, Trent, Bharti Airtel, and Bajaj Finserv remained the only exceptions in green. Meanwhile, the laggards were dominated by BEL, Tech M, Eternal, Tata Steel, and HCL Tech.
Broader Markets
In the broader markets, the Nifty Midcap Select fell 0.30 per cent, while the Nifty Next50 was the only index in green, inching up 0.06 per cent. Sectorally, the Midsmall IT & Telecom index tanked 0.69 per cent. On the other hand, the FMCG index gained 0.48 per cent in the morning market hour.
The GIFT Nifty indicated a weak day ahead for markets, as it declined 14.50 points to touch 25,492, as of 8:55 AM.
July 9 Tariff Deadline And Q1 Earnings
Notably, markets will be on the lookout for any trade related developments as the July 9 tariff deadline approaches. US President Donald Trump’s suspension period of the reciprocal tariffs is set to end on Wednesday, which could mean higher tariffs ahead for several nations. Notably, Trump revealed on Sunday that the new tariffs will be effective from August 1, however, the decision about the different rates for countries will be revealed this week.
Further, Q1 earnings will also have a major impact on sentiment in the market this week, with major names like TCS scheduled to reveal their financial results for the first quarter of the new fiscal year (2025-26).
In the last trading session on Friday, the Sensex recovered to settle at 83,433, climbing close to 200 points, while the Nifty ended trading above 25,450, gaining more than 50 points. Notably, last week, Sensex suffered a fall of 626 points, while the Nifty tanked 177 points.
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