Sensex falls over 100 pts, Nifty below 25,450; IT, pharma stocks top laggards
TCS
set to report its results later today.
At 9:38 am, the BSE Sensex was down 115 points, or 0.14%, at 83,420, while the Nifty50 edged down 36 points, or 0.14%, to 25,440.
Among Sensex stocks,
Tata Steel
,
Axis Bank
,
Power Grid
,
Bajaj Finance
, and M&M opened with gains. On the other hand,
Tata Motors
,
Infosys
, TCS,
Tech Mahindra
, and HCLTech saw early declines.
On the sectoral front, Nifty IT was the top laggard, slipping 0.5%, weighed down by losses in Wipro and Infosys. Nifty Auto, Pharma, and FMCG indices also opened in the red. In the broader market, the Nifty Midcap100 rose 0.2%, while the Nifty Smallcap100 gained 0.35%.
Among individual stocks, shares of
Enviro Infra Engineers
rose nearly 6% after the company, as the lead partner in a joint venture with AltoraPro Infrastructure, bagged a Rs 395 crore pollution control project from the Maharashtra Industrial Development Corporation (MIDC).
Meanwhile, Asian markets opened higher, mirroring overnight gains on Wall Street after U.S. President Donald Trump issued final tariff notices to seven smaller trading partners.
Investors are closely watching further developments, as the Trump administration inches closer to a trade agreement with the European Union. Earlier this week, Trump also signalled that a deal with India could be announced soon.
Back home, Tata Consultancy Services (TCS), India's largest IT services firm, is set to report its June-quarter results after market hours on Thursday.
Global Markets
Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.
Trump also turned his trade ire against Brazil on Wednesday as he threatened a punitive 50% tariff on exports to the U.S. and issued tariff notices to seven minor trading partners.
The latest moves did little to rattle markets, leaving MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2%.
The Nikkei fell 0.56%, while China's CSI300 blue-chip index rose 0.2% and Hong Kong's Hang Seng Index added 0.1%. EUROSTOXX 50 futures gained 0.18% and FTSE futures advanced 0.33%.
FII/DII Tracker
Foreign Institutional Investors (FIIs) were net buyers of equities worth Rs 77 crore on July 9, while Domestic Institutional Investors (DIIs) were also net buyers, investing Rs 920 crore on the same day.
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