Global sentiment turned fragile after former U.S. President Donald Trump threatened new tariffs, including a 200% duty on Indian pharmaceutical exports and a 10% general tariff on BRICS nation imports. India, being one of the world’s largest exporters of generic drugs, saw its pharma sector come under the spotlight.
Despite the fears, some large-cap pharma names like Cipla and Sun Pharma held firm, supported by safe-haven buying in anticipation of increased volatility.
📉 Sector Performance
- Declining Sectors:
- IT: HCL Tech and Infosys slipped up to 1%
- Banking: ICICI Bank, Axis Bank saw mild losses
- Metals & Realty: Tata Steel and real estate stocks came under pressure
- Resilient/Gaining Sectors:
- Pharma: Sun Pharma, Cipla showed strength despite tariff concerns
- FMCG: HUL and Asian Paints posted modest gains
- Auto: Maruti saw slight upward movement on steady June dispatches
🔢 Market Breadth
Out of the 50 Nifty stocks:
- 27 declined,
- 21 advanced,
- 2 remained unchanged
Broader indices like the Nifty Midcap 100 and Nifty Smallcap 100 also opened flat to mildly negative, mirroring overall sentiment.
📊 Technical View
Analysts suggest Nifty is likely to remain range-bound between 25,400 and 25,600 in the short term. A breakout above 25,600 could lead to bullish momentum, while a breakdown below 25,400 may trigger further correction.
Support & Resistance Levels:
- Nifty Support: 25,400
- Nifty Resistance: 25,600
- Sensex Resistance: 84,000
- Sensex Support: 83,300
🔮 Expert Take
Market experts remain cautious due to rising global trade uncertainties. “Investors should stay stock-specific and focus on companies with strong earnings visibility and lower global exposure,” said Ankit Rathore, a senior market strategist.
📌 IPO Watch
The IPO of Crizac Limited, a specialty chemicals firm, opened today for subscription. Analysts expect strong demand, citing robust margins and future expansion potential.
📦 Summary
- Markets opened lower due to U.S. tariff threats on pharma and BRICS nations
- Nifty trades between 25,400–25,600, Sensex between 83,300–84,000
- Defensive sectors like FMCG and pharma showing strength
- Cautious sentiment expected to prevail this week
