📌 Daily Market Wrap | July 10, 2025
Presented by Angeeras Securities Research Desk
Indian equity benchmarks continued their downward trend on Thursday, weighed down by subdued investor sentiment ahead of the June quarter earnings season and ongoing developments in the U.S.-India trade dialogue. The Nifty 50 slipped 120.85 points to close at 25,355.25, while the Sensex fell by 345.80 points, ending at 83,190.28.
The IT sector was one of the key underperformers for the day. The Nifty IT index dropped 0.79%, with all ten constituents closing in the red. Market leader TCS, on the eve of its Q1 results, closed marginally lower by 0.05%, reflecting cautious investor positioning.
From a technical standpoint, selling pressure around the 25,500 level on the Nifty signaled prevailing caution among traders, especially ahead of earnings and regulatory updates.
🌍 Global Context & Derivatives Volatility
Global cues were mixed. Asian markets showed mild resilience, brushing off aggressive tariff rhetoric from former U.S. President Donald Trump. Domestically, attention was sharply focused on derivatives action following the SEBI ban on Jane Street Group, a U.S.-based high-frequency trading firm.
Key Observations:
NSE Volatility Index fell to 11.7, its lowest level in over a year. Nifty 50 options volume remained robust but below last week’s expiry, as traders monitored possible ripple effects of SEBI’s enforcement actions on derivatives trading. Thursday’s expiry, central to Jane Street’s strategy as per SEBI’s findings, drew special attention for signs of manipulation or irregularity.
Jane Street has denied any wrongdoing, citing the use of standard arbitrage strategies.
📊 Sectoral Performance and Stock Highlights
Among the 11 key NSE sectors, only two ended in positive territory:
Top Gainer: Nifty Realty (+0.72%), driven by strength in Prestige Estate Top Loser: Nifty PSU Bank (−0.8%)
Other notable gainers:
Maruti Suzuki: +6.71 points to Nifty IndusInd Bank: +2.21 points Tata Motors: +1.41 points
Top drags:
Bharti Airtel: −37.42 points Infosys: −18.38 points ICICI Bank: −15.22 points
Stock-specific highlights:
Waaree Energies rose 2% after announcing an Offer for Sale in a subsidiary. Enviro Infra rallied 6% on news of a Rs 395 crore pollution control contract win in Maharashtra.
📈 Market Breadth & Internals
Broader market indices also struggled:
Nifty Midcap 100: −0.3% Nifty Smallcap 100: −0.27%
Market Breadth (NSE):
Advances: 1,392 Declines: 1,524 Unchanged: 82
Other key indicators:
52-week highs: 68 stocks 52-week lows: 28 stocks Upper circuits: 101 stocks Lower circuits: 34 stocks
These figures reflect a mild bearish bias, with participation softening across segments.
💼 Earnings Watch: TCS Q1 FY25 – Early Snapshot
Tata Consultancy Services announced its Q1 results post market hours:
Net Profit: Rs 12,760 crore (up 2% QoQ) – above expectations Revenue: Rs 63,437 crore (down 1.7% QoQ) – slightly below expectations EBIT: Rs 15,514 crore (−0.6% QoQ) EBIT Margin: 24.5% vs 24.2% last quarter Total Contract Value: $9.4 billion vs $12.2 billion QoQ Dividend: Rs 11 per share declared
The results reflect stable profitability, although margins and topline slightly missed estimates, which may influence sector sentiment in the short term.
🌐 Upcoming Global Economic Calendar
United States
Tuesday: CPI Inflation Wednesday: MBA Mortgage Applications, PPI, Industrial Production, Manufacturing Production Thursday: Retail Sales, Initial Jobless Claims, Philadelphia Fed Business Outlook Friday: Housing Starts, 1-Year & 5–10-Year Inflation Expectations
Europe
Wednesday: UK CPI and RPI Thursday: UK Unemployment Rate Friday: Germany PPI
China
Monday: Trade Balance (Exports & Imports) Tuesday: GDP, Retail Sales, Industrial Production Friday: CPI
Japan
Monday: Core Machinery Orders, Industrial Production, Capacity Utilization
India
Monday: CPI (Inflation) Tuesday: Exports, Imports, Unemployment Rate Friday: Foreign Exchange Reserves
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