Markets ended Tuesday’s session on a positive note, with the Sensex gaining 270.01 points or 0.32 per cent to close at 83,712.51 and the Nifty 50 advancing 61.20 points or 0.24 per cent to settle at 25,522.50. The indices recovered from a sideways trading pattern through most of the session following late-hour buying interest driven by expectations of a potential mini-trade agreement between the US and India.
The benchmark indices opened flat, with the Sensex starting at 83,387.03 compared to its previous close of 83,442.50, while the Nifty opened at 25,427.85 against its previous close of 25,461.30. Market participants remained cautious throughout the session amid global uncertainties stemming from US President Donald Trump’s announcement of 25-40 per cent tariffs on 14 nations, with a July 9 deadline for implementation.
Among individual stocks, Kotak Mahindra Bank emerged as the top gainer on the Nifty 50, surging 3.45 per cent to close at ₹2,223.90. The banking stock was followed by Eternal, which advanced 1.97 per cent to ₹263.65, and Asian Paints, which gained 1.85 per cent to end at ₹2,487.90. NTPC rose 1.63 per cent to ₹342.95, while Grasim Industries added 1.28 per cent to close at ₹2,814.60.
On the losing side, Titan Company faced significant selling pressure, declining 5.88 per cent to close at ₹3,440.00, making it the worst performer on the index. Dr. Reddy’s Laboratories fell 2.02 per cent to ₹1,284.00, while Bajaj Auto dropped 1.44 per cent to ₹8,342.00. Cipla declined 1.36 per cent to ₹1,490.00, and Trent shed 1.07 per cent to end at ₹5,440.00.
“Today, the Indian stock market closed with a modest positive bias, with the Nifty 50 ending at 25,522, up 60.7 points or 0.24 per cent from the previous close,” said Vaibhav Vidwani, Research Analyst at Bonanza Group. “The market’s positive close was primarily driven by domestic retail investor confidence and selective buying in key sectors despite global uncertainties.”
The sectoral performance showed mixed trends, with the Nifty Realty index emerging as the top gainer, rallying over 1 per cent, while the Nifty Financial Services index gained 0.68 per cent to close at 27,016.85. The Nifty Bank index advanced 0.54 per cent to 57,256.30. However, the Consumer Durables sector faced the most significant selling pressure, shedding over 2.30 per cent.
“Sector-wise, strength was observed in Realty, Banking, and Financial Services, while underperformance was noted in consumer durables, pharmaceuticals, healthcare, and the automobile space,” noted Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity.
The broader market indices underperformed the headline indices, with the Nifty Midcap 100 declining 0.17 per cent to close at 59,415.45, while the Nifty Next 50 remained virtually flat, ending marginally lower by 0.01 per cent at 68,719.05. Market breadth remained negative, with 1,854 stocks advancing against 2,176 declining stocks on the BSE, while 137 stocks remained unchanged.
Currency markets showed strength for the rupee, which gained 0.20 or 0.23 per cent to close at 85.65 against the dollar. “Rupee traded strong, gaining 0.20 rupees or 0.23 per cent to close at 85.65. Softer crude prices and easing FII selling pressure supported the currency,” said Jateen Trivedi, VP Research Analyst at LKP Securities.
In the commodities space, gold prices faced pressure, trading weak by ₹440 at ₹96,820 as Comex gold slipped 0.45 per cent to $3,322. “Gold traded weak by ₹440 at ₹96,820 as Comex gold slipped 0.45 per cent to $3,322, while rupee appreciation of 0.23 per cent added further pressure on domestic gold prices,” Trivedi explained.
The derivatives segment showed interesting patterns, with the Put-Call Ratio remaining at 0.78, suggesting a slightly bearish undertone in the near term. “For the weekly expiry, the highest open interest on the call side stands at the 25,500 strike, while the put side sees significant positions at 25,500 and 25,400, indicating a tight range,” Kewat observed.
Technical analysts remained cautiously optimistic about the market’s near-term prospects. “The index has moved up after a consolidation on the hourly chart, improving sentiment for the bulls. On the daily chart, the Nifty formed a green candle following a hammer and a doji pattern,” said Rupak De, Senior Technical Analyst at LKP Securities.
Positive momentum
“Today, the benchmark indices witnessed positive momentum. The Nifty closed 61 points higher, while the Sensex was up by 270 points,” commented Shrikant Chouhan, Head Equity Research at Kotak Securities. “Technically, on the daily and intraday charts, the market has formed reversal formation, which supports further uptrend from the current levels.”
Market participants remained focused on global trade developments, particularly the ongoing US-India trade negotiations. “The Indian equity market remained largely range-bound as investors awaited definitive progress on the India–US trade agreement,” said Vinod Nair, Head of Research at Geojit Investments Limited.
“Markets drifted through most of Tuesday before a late recovery pushed the Sensex up 270 points and helped the Nifty reclaim the 25,500 mark,” observed Vikram Kasat, Head – Advisory at PL Capital. “Sentiment remained cautious as investors tracked global headlines, especially U.S. trade moves ahead of the July 9 tariff deadline.”
In the derivatives market, notable open interest build-ups were observed in stocks, including Titan, BSE, 360ONE, AngelOne, and Divis Laboratories. The India VIX declined by 2.91 per cent to 12.1950, indicating reduced market volatility and reflecting relatively stable sentiment among traders.
Looking ahead, market analysts expect continued focus on the upcoming earnings season and potential trade deal announcements. “As the Q1FY26 earnings season approaches, the market focus is expected to shift toward corporate performance and management commentary, which will likely guide future market momentum,” Nair added.
“We maintain a buy-on-dips strategy as long as the index holds above this critical support area,” suggested analysts at Bajaj Broking, highlighting the importance of key technical levels for future market direction. The July 9 trade policy deadline remains a crucial event that could significantly influence market sentiment in the coming sessions.
Published on July 8, 2025
