Stock Market Live: Sensex ends 247 pts lower, Nifty at 25,082; IT stocks lead fall

Gift Nifty indicates flat start for Senses, Nifty

The BSE Sensex and NSE Nifty50 are set to start the week on a subdued note, tracking mixed cues from Asian markets amidst the increasing trade uncertainties. At 8:00 AM, GIFT Nifty futures were trading 11 points lower at 25,180, indicating a muted start for Indian share market.

Investor sentiment remains on edge as U.S. President Donald Trump announced to impose a 30% tariff on most imports from the European Union and Mexico starting August 1, despite ongoing negotiations.

Asian markets traded mixed on Monday as tariff concerns weighed on sentiment. Japan’s Nikkei 225 slipped 0.3%, Taiwan’s Weighted Index dropped 0.6%, and Australia’s ASX 200 hovered slightly lower. In contrast, China’s Shanghai Composite gained over 0.5%, South Korea’s Kospi rose 0.3%, while Hong Kong’s Hang Seng and Singapore’s Straits Times edged marginally higher.

After three consecutive months of positive inflows, foreign portfolio investors (FPIs) have turned net sellers in Indian equities so far in July. According to NSDL data, FPI investments through stock exchanges recorded a marginal outflow of ₹555 crore as of July 11, the first negative monthly figure since March, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

This comes after a reversal of the trend earlier in the year, when FPIs were net sellers in the first quarter, followed by strong inflows in April, May, and June. However, for 2025 to date, net FPI flows remain negative at ₹1,00,443 crore, largely due to heavy selling in January and February.

"FPI selling in July after three months of buying can be attributed to the recovery in the market from the March lows and the consequent elevated valuations. Since other markets are cheaper relative to India, FIIs may again sell and move money to cheaper markets as a short-term strategy. In H1 2025 Indian market underperformed most markets including the MSCI EM index," said Vijayakumar.

Nifty has breached its key short-term support, the 20-day Exponential Moving Average (EMA), and slipped back into the earlier consolidation range of 24,500-25,200, signaling a disruption in the recent positive bias. This breakdown suggests the index may now witness extended consolidation in the near term, said Ajit Mishra – SVP, Research, Religare Broking..

On the downside, the 24,500-24,900 zone will serve as a crucial support area, while any rebound faces immediate resistance at 25,550, with a stronger supply zone around 25,750, he said.

HCL Technologies, Ola Electric Mobility, Tata Technologies, Tejas Networks, Nelco, Rallis India, Den Networks, Kesoram Industries, and Sambhv Steel Tubes are set to release their June quarter results today.

Silver outperformed most commodities last week, hitting an all-time high on the domestic front and hovering near $40 per ounce on COMEX, driven by strong investor interest. Gold prices also rose, touching a three-week high, supported by safe-haven demand after U.S. President Donald Trump threatened to impose 30% tariffs on imports from the EU and Mexico starting August 1, said Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services.

“Both the EU and Mexico described the tariffs unfair and disruptive, while the E.U. said it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement. Chicago Fed Bank President Austan Goolsbee said the new tariffs unveiled by Trump could spark fresh concerns about inflation, which might force the Fed to maintain its wait-and-see posture.”

“Meanwhile, gold speculators cut net long positions by 1,855 contracts to 134,842 in the week to July 8. Investors now await the U.S. inflation data for June due tomorrow for more cues on the Federal Reserve's interest rate path. Markets are currently pricing in just over 50 bps worth of Fed easing by December,” said analyst at Motilal Oswal.

The Indian equity market opened flat with a negative bias on Monday. The BSE Sensex dropped 138 points to 82,269.74 level in opening trade, while the NSE Nifty tumbled 63 points to 25,090 mark.

Extending opening losses, the Sensex dropped as much as 310 points, or 0.38%, to 82,191, and the Nifty50 declined 92 points to 25,057.

Travel Food Services (TFS) made a subdued debut on the stock markets today, listing at just over a 2% premium to its IPO price.

Shares opened at ₹1,125 on the NSE, with a 2.27% rise over the issue price of ₹1,100. On the BSE, the stock began trading at ₹1,126.20, reflecting a 2.38% premium. Following its listing, the company’s market capitalisation was pegged at ₹14,829.74 crore.

Shares of Smarten Power Systems made a robust debut on July 14, listing at ₹144 per share on the NSE Emerge platform, marking a 44% premium over its SME IPO price of ₹100.

The listing gains far exceeded the 15% grey market premium (GMP) indicated by Chittorgarh, where the company’s unlisted shares were trading ahead of the listing.

Wipro, Infosys and HCL Tech were the major losers on the Nifty IT list, marking a dip by 1.76%, 1.64% and 1.56% respectively.

Markets regulator The Securities and Exchange Board of India (Sebi) on Monday confirmed that the New York-based trading firm Jane Street has deposited ₹4,843.58 crore into an escrow account, as directed under the interim order issued earlier this month. Following the deposit, the firm has requested Sebi to lift trading restrictions imposed on its participation in the Indian equity markets.