CHENNAI: Indian benchmark indices ended slightly higher on Friday, July 4, following a volatile session marked by caution among investors ahead of the July 9 deadline for the potential reimposition of tariffs by the United States under President Trump. The BSE Sensex closed at 83,432.89, gaining 193.42 points or 0.23 percent, while the Nifty 50 settled at 25,461, up 55.7 points or 0.22 percent.
Despite the green close, market sentiment remained subdued, with traders reluctant to take large positions amid geopolitical uncertainties and ongoing global trade tensions. The broader markets reflected a mixed tone. The Nifty Midcap 100 ended flat with a slight negative bias, while the Nifty Smallcap 100 inched up just 0.03 percent.
Investor focus remained on two key themes: the looming US-India trade tariff deadline and regulatory developments within India. Of particular note was SEBI’s interim action against global trading firm Jane Street, which led to significant selling pressure in broking stocks. Shares of companies like Angel One and BSE fell sharply, by around 6 percent, amid concerns about tighter oversight in the derivatives market.
In sectoral performance, large-cap IT and FMCG stocks helped support the indices, with stocks like Infosys, TCS, and HUL posting modest gains. On the other hand, weakness was seen in banking, real estate, and metal counters. Among the top movers, Marico rose around 3.6 percent on the back of strong rural demand commentary, while Bajaj Finance gained over 3 percent after an uptick in its assets under management. Meanwhile, Trent fell sharply by about 7 percent due to signs of slowing revenue growth for the June quarter.
The India VIX, a measure of market volatility, remained stable around 12.3–12.4, indicating limited fear in the market despite upcoming risk events. From a technical perspective, Nifty maintained support around the 25,400 zone, with resistance seen near 25,600. A clear breakout above that level could pave the way for a fresh rally, while any breach below 25,300 may trigger weakness.
Globally, Asian markets were mixed to weak as investors weighed in on trade tensions and lack of strong catalysts. Meanwhile, US markets hit record highs on Thursday, providing some underlying support to global risk appetite.
Overall, the Indian markets ended the day with marginal gains, but the undertone was cautious. Investors will be closely watching developments on the trade front next week, particularly around the July 9 deadline, as well as any further regulatory actions in the domestic derivatives space.