Stock market today: It was another quiet day for the Indian stock market, with benchmark indices largely remain unchanged, as investors remained cautious amid uncertainty over the ongoing India–US trade talks.
Additionally, sentiment was weighed down by concerns related to SEBI’s report on Jane Street, which also contributed to the lack of momentum and kept share price movements largely restricted.
However, a few sectors such as FMCG and Oil & Gas managed to show some strength; a drop in crude oil prices and signs of potential volume recovery in urban India during the June quarter led to buying momentum in these counters.
Benchmark indices ended flat on July 7, with the Sensex inching up just 9.61 points to 83,442.50 and the Nifty adding a mere 0.30 points to settle at 25,461.30, reflecting largely unchanged market sentiment. However, the broader market closed with losses, with the Nifty Midcap 100 and Nifty Smallcap 100 ending lower by over 0.30%.
Among sectoral indices, 10 out of 13 ended in the red. The Nifty FMCG and Nifty Oil & Gas closed and are among only two major indices that ended in the green. In terms of top laggards, Nifty Media was the worst performer, closing with a loss of 0.98%, followed by Nifty IT and Nifty Metal, which both ended lower by over 0.70%.
Meanwhile, the India–US trade talks have faced delays, with reports suggesting that the White House is pushing New Delhi to open up access to sensitive sectors such as agriculture and dairy. India has been opposing these demands in order to protect its farmers, who heavily depend on these sectors for their livelihood.
The 90-day pause on reciprocal tariffs announced by Donald Trump in April is set to expire on July 9, with around a dozen countries expected to receive letters from the White House detailing the new, higher levies. Trump clarified on Sunday that these revised tariff rates would take effect from August 1.
Trump also threatened to impose an additional 10% tariff on nations aligning with the “anti-American” policies of the BRICS emerging economies. So far, only Britain, China, and Vietnam have agreed to any form of trade deal with the Trump administration.
