Indian stock market benchmarks ended in the red on Wednesday, July 9, as uncertainty over US tariffs kept investors away from riskier equities. Caution ahead of the Q1FY26 earnings season also added pressure on the market.
The Sensex snapped its three-day winning streak to close at 83,536.08, down 176 points, or 0.21 per cent. The Nifty 50 settled with a loss of 46 points, or 0.18 per cent, at 25,476.10.
The BSE Midcap index slipped 0.05 per cent, but the Smallcap index clocked a decent gain of 0.45 per cent.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex fall today?
The domestic market benchmark ended with losses as investors booked profits in select heavyweights, including Reliance Industries and ICICI Bank, amid persisting uncertainty over US tariffs.
US President Donald Trump has extended the tariff deadline to August 1 from July 9. On Tuesday, Trump said a deal with India was very close. However, the final shape of the deal is still unclear.
India and the US have pushed back their deadline to finalise the trade deal from the earlier 9 July cutoff to mid-July.
Another key factor weighing on market sentiment is the start of Q1FY26 results. IT major TCS will announce its June quarter earnings on Thursday, July 10.
“While the tariff-related concerns linger, the focus now shifts to the earnings season, with IT major TCS scheduled to announce its results on Thursday, July 10. Additionally, the weekly expiry could add to the choppiness. Amid all this, we maintain our bullish stance and recommend continuing with a ‘buy on dips’ strategy, with a strong emphasis on stock selection,” said Ajit Mishra, SVP of Research at Religare Broking.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
