Closing bell: Sensex ends 193 pts higher, Nifty at 25,461; Bajaj Finance, Infosys, HUL lead

The Indian equities market remained range-bound on Friday, closing with modest gains as investors adopted a cautious stance ahead of the upcoming U.S. tariff deadline on July 9. The upside was limited by sustained foreign fund outflows, mixed global cues, and uncertainty surrounding potential U.S. interest rate cuts, along with the ongoing rush to finalise trade deals before the tariff decision. Foreign institutional investors (FIIs) continued to be net cash sellers to the tune of ₹5,012.95 crore so far this month.

The BSE Sensex settled at 83,432, up 193 points, or 0.23%, while the NSE Nifty50 ended higher by 55.7 points, or 0.22%, at 25,461. The broader markets ended on a subdued note, as the Nifty Mid-cap 100 closed flat with a negative bias and the Nifty Small-cap 100 rose marginally by 0.03%.

On the sectoral front, pharma, healthcare, IT, and oil & gas were among the top performers, while metals, consumption, automobiles, and private banks ended in the negative terrain.

The market breadth was positive with 2,259 of the 4,189 stocks traded on the BSE closing in the positive terrain, while 1,790 ended lower, and 140 remained unchanged. As many as 130 stocks hit their 52-week highs, while 59 slipped to their 52-week lows.

"The Indian market is experiencing a pause as investors adopt a wait-and-watch strategy ahead of the impending U.S. tariff deadline with mixed global cues,” said Vinod Nair, head of research, Geojit Investments.

“Following the recent rally, main indices are hovering near peak valuation levels, limiting further upside, which is highly dependent on Q1 earnings and details of the trade deal. In the mid- and small-cap space, the market has shifted to being more stock-specific following the recent recovery," he added.

Top gainers and losers

On the BSE Sensex pack, 20 out of 30 stocks ended in the green zone, with Bajaj Finance , Infosys , Hindustan Unilever , ICICI Bank , and HCL Tech emerging as top gainers. They rose in the narrow range of 1.6% to 0.9%.

On the other hand, Trent , Tata Steel , Tech Mahindra , Maruti Suzuki India , and Adani Ports were the top losers, falling between 11.9% and 0.4%.

Trent shares ended 11.93% lower at ₹5,448.65 on the BSE after the Tata group company warned of a growth slowdown at its annual general meeting (AGM).

U.S.-India trade deal remains a key market trigger

With all eyes on the impending U.S.-India trade deal as the tariff deadline approaches, participants are hopeful of a favourable outcome, which could provide the much-needed trigger for the next leg of the market's upmove, said Ajit Mishra, SVP-research, Religare Broking Ltd.

He recommended maintaining a “buy on dips” approach until the Nifty decisively breaks below the 25,200-level, with a strong focus on stock selection. “Despite the recent outperformance, the broader indices are still holding up well; however, one should remain cautious, given the potential for profit booking at higher levels.”

For the Nifty, the key support lies at 25,300, and as long as the index remains above this level, bullish sentiment is expected to persist, with the potential for a swift rebound, said Rupak De, senior technical analyst at LKP Securities. “On the higher side, the index could advance towards 25,800–26,100 in the near term. Immediate resistance is placed at 25,500; a breakout above this level could further strengthen the upward momentum."

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