CHENNAI: The Indian equity benchmarks started the day on a cautious note, responding to increasing uncertainty around the looming US tariffs by President Trump. At 11:20 AM , the Nifty 50 traded at 25,536.00, up 13.50 or 0.05%, while the Sensex stood at 83,748.57, up roughly 34 points or 0.02%, although both these indices were marginally down in the opening trade.
Weak cues from Asian markets, along with persistent foreign institutional investor (FII) selling, contributed to the negative bias at the open.
US President Trump’s announcement—that 50% tariffs on copper and upcoming levies on semiconductors, pharmaceuticals, and BRICS imports would take effect soon—has heightened market jitters.
In pre-market trading, the GIFT Nifty was down approximately 25 points, suggesting a subdued start.
Anticipated Flow Dynamics & Strategy
Foreign institutional investors (FIIs) have been net sellers for multiple consecutive sessions, though domestic institutional investors (DIIs) have partially offset this with steady inflows.
Analysts suggest a “buy-on-dips” approach, placing emphasis on capitalizing on dips with tight stop-losses and booking profits near resistance levels.
Operational & Regulatory Context
Despite a nationwide Bharat Bandh scheduled today, both BSE and NSE have confirmed that trading will proceed as usual, though regional impacts on transport or liquidity are possible.
Additionally, the MCX is set to launch electricity futures tomorrow (July 10), marking a significant evolution in India’s energy derivatives landscape.
Sensex had closed at 83,432.89, gaining 193.42 points (+0.23%) on Tuesday, while Nifty settled at 25,461, up 55.7 points (+0.22%).
Broader indices: Nifty Midcap 100 was flat with a slight negative bias; Nifty Smallcap 100 rose 0.03%.
Sectoral trends: All sectors rose except Auto and Metal. Oil & Gas was the top gainer (+1.05%), led by BPCL, IGL, Indian Oil, Mahanagar Gas, HPCL. Realty, Pharma, IT, Bank, Media, Consumer Durables also rose up to 1%.
Sensex gainers included Bajaj Finance, Infosys, HUL, ICICI Bank, HCL Tech, Ultratech Cement, Bajaj Finserv, Trent, Tata Steel, Tech Mahindra, Maruti Suzuki, Adani Ports.
The India VIX (fear gauge) cooled slightly, easing 0.57% to 12.32
