Nifty 50: Down approximately 0.3%, trading around 25,255–25,289
BSE Sensex: Down around 0.3–0.4%, at ~82,820–82,920
Approximately 10 out of 13 major sector indices opened in red, with IT stocks leading the decline. Small- and mid-cap indices remained largely flat .
🧨 Key Drivers Behind the Weak Opening
1. TCS Earnings Disappointment
Tata Consultancy Services (TCS) reported Q1 revenue below expectations. Clients are cutting back on discretionary IT spending amid growing global trade uncertainty—a major headwind for the sector. TCS fell ~2%, dragging the broader Nifty IT index down ~2% . Other IT names like Infosys, Wipro, LTIMindtree, and Tech Mahindra also saw declines .
2. Global Trade Tensions Resurface
Former U.S. President Trump announced a 35% tariff on imports from Canada effective next month, plus proposed blanket tariffs of 15–20% on other partners. This amplified fears of supply chain disruptions and global economic slowdown, weighing on local markets .
3. Futures & Pre‑market Signals
The GIFT Nifty futures were down around 125–144 points, signaling a weak start for domestic benchmarks . Markets are expected to consolidate near term, awaiting updates on corporate earnings and India–U.S. trade talks .
🔎 Other Highlights in Early Trade
- IREDA shares dropped ~6% after Q1 net profit fell 36% YoY
- ZEE shares slid ~6% after shareholders blocked its fundraising plan
- Glenmark Pharma soared ~10%, hitting the upper circuit after signing a major licensing deal with AbbVie worth up to $700 million
- Rupee weakened by ~15 paise to ~₹85.85/USD in early trade
- RBI action: A ₹2.5 lakh crore VRRR reverse repo auction is underway, affecting liquidity flows ahead of fortnight-end CRR reporting
📌 What Analysts Are Watching Next
- Immediate pressure on indices hinges on whether Sensex breaks below ~82,700–82,500, which could trigger further selling. Resistance lies in the 83,400–84,000 zone .
- Next drivers include:
- Progress in India–U.S. trade negotiations
- Q1 earnings from large corporates (especially IT, FMCG, pharma)
- Crude oil prices and the rupee’s movement
- Domestic liquidity changes via RBI operations
✅ Summary Table
| Metric / Indicator | Status at Market Open (July 11, 2025) |
|---|---|
| Nifty 50 | ~25,255–25,289 (↓ ~0.3 %) |
| Sensex | ~82,820–82,920 (↓ ~0.3–0.4 %) |
| IT Sector | ↓ ~2% due to TCS earnings miss and cautious client spending |
| GIFT Nifty Futures | Down 125–144 points → Weak opening signal |
| Top stock movers | Glenmark ↑10%; ZEE ↓6%; IREDA ↓6% |
| Macro focus | Trade tensions, earnings season, RBI liquidity flows |
