Sensex drops 272 pts, Nifty trades below 25,400 level; VIX slides 1.19%
At 13:28 IST, the barometer index, the S&P BSE Sensex declined 272.31 points or 0.33% to 83,269.52. The Nifty 50 index fell 86.90 points or 0.34% to 25,390.15.
In the broader market, the S&P BSE Mid-Cap index shed 0.50% and the S&P BSE Small-Cap index declined 0.09%.
The market breadth was negative. On the BSE, 1,751 shares rose and 2,128 shares fell. A total of 178 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.11% to 18.60.
Gainers & Losers:
Indusind Bank (up 1.08%), Bajaj Finance (up 1.05%), Maruti Suzuki India (up 0.89%), Tata Steel (up 0.86%) and Jio Financial Services (up 0.82%) were the major Nifty50 gainers.
Bharti Airtel (down 2.16%), HDFC Life Insurance Company (down 2.03%), Tech Mahindra (down 1.44%), Wipro (down 1.38%) and Cipla (down 1.33%) were the major Nifty50 Losers.
Bharti Airtel fell 2.16%. The company has announced the incorporation of a new step-down wholly-owned subsidiary, Airtel Money Limited, as per a regulatory filing made on 09 July 2025.
Stocks in Spotlight:
Eimco Elecon (India) tanked 8.83% after its standalone net profit declined 2.02% to Rs 14.48 crore, while revenue from operations slipped 3.09% to Rs 67.56 crore in Q1 FY26 over Q1 FY25.
Enviro Infra Engineers rose 2.15% after the firm, as the lead partner in a joint venture with AltoraPro Infrastructure, secured a Rs 395.50 crore pollution control project from the Maharashtra Industrial Development Corporation (MIDC).
Amber Enterprises India rose 1.14% after the company announced that its board will meet on Saturday, 12 July 2025, to consider a proposal to raise upto Rs 2,500 crore through the issuance of eligible securities.
Global Markets:
US Dow Jones futures slipped 119 points, hinting at a tepid start for Wall Street today.
European markets opened higher on Thursday, shrugging off concerns over tariff updates.
Most Asian equities traded higher, riding a wave of optimism from the tech sector after Nvidia briefly crossed the $4 trillion valuation milestone. However, gains were tempered by growing unease over fresh U.S. trade tariffs announced by President Donald Trump.
Trump has begun dispatching formal letters to major trade partners, outlining steep new tariffs. Japan and South Korea each face a 25% tariff, while Brazil was hit with a 50% levy, prompting strong criticism and threats of reciprocal action from Brasilia. Trump also confirmed a 50% tariff on copper imports, claiming it was necessary to revive the domestic copper industry.
In South Korea, the Bank of Korea held interest rates steady, as expected, while signaling a readiness to ease policy further amid ongoing economic challenges.
Overnight on Wall Street, the Nasdaq hit record highs despite the tariff drama, lifted by a strong rally in Nvidia, which briefly topped $4 trillion in market cap. Investor enthusiasm around AI continued to fuel tech stocks, with Meta Platforms and other major names also ending in the green.
At the close, the Dow Jones gained 0.49%, the S&P 500 rose 0.61%, and the Nasdaq jumped 0.95%.
The Federal Reserve?s June meeting minutes, released Wednesday, showed most policymakers still expect rate cuts this year, though divisions are emerging. While some members are eyeing a possible cut as early as July, others see no need for any easing in 2025.
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