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Markets extend losses in late trade
Jul-09-2025

Indian equity benchmarks extended their losses in late trade as stocks of market heavy weights like Reliance industries and ICICI bank witnessed selling pressure. Investors seemed reluctant to make any risky moves and awaits for clues about anticipated trade deal between India and U.S. Meanwhile, the small caps have outperformed the headline indices - Nifty and Sensex, as reflected by BSE Small cap index surging 0.30%. On the sectoral front, significant weakness has been seen in metal stocks, with BSE Metal index falling 1.66%, after U.S. President Donald Trump announced 50% tariffs on Copper imported in United States.

On the global front, Asian equity markets were trading mostly in green after U.S. President Donald Trump expanded his trade war with steep new tariffs targeting copper, semiconductors and pharmaceuticals.  European equity markets were trading higher as investors waited for an update on the U.S.-EU trade deal. 

The BSE Sensex is currently trading at 83561.96, down by 150.55 points or 0.18% after trading in a range of 83519.41 and 83781.36. There were 15 stocks advancing against 15 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index declined 0.16%, while Small cap index was up by 0.30%.

The top gaining sectoral indices on the BSE were FMCG up by 0.70%, Consumer Durables up by 0.43%, Auto up by 0.38%, Utilities up by 0.21% and Consumer Discretionary up by 0.13%, while Metal down by 1.66%, Realty down by 1.62%, Oil & Gas down by 1.28%, Energy down by 0.92% and IT down by 0.68% were the top losing indices on BSE.

The top gainers on the Sensex were Bajaj Finance up by 1.37%, Hindustan Unilever up by 1.24%, Ultratech Cement up by 0.86%, Mahindra & Mahindra up by 0.66% and Asian Paints up by 0.65%. On the flip side, Tata Steel down by 2.16%, HCL Technologies down by 1.76%, Bharat Electronics down by 1.28%, Tech Mahindra down by 1.07% and Reliance Industries down by 1.01% were the top losers.

Meanwhile, Economic think tank Global Trade Research Initiative (GTRI) has said that India could be among the countries expected to finalise a trade deal with the US soon, as President Donald Trump steps up pressure by issuing formal tariff letters to several nations, but New Delhi must tread carefully. He said Trump's model isn't a free trade agreement, it's a YATRA - Yielding to American Tariff Retaliation Agreement. 

GTRI said that the US has extended the deadline for countries to finalise bilateral trade deals with the US from July 9 to August 1, giving a final three-week window before sweeping country-specific tariffs come into force. It said the extension is part of a broader trade offensive launched on April 2, when Trump identified about 60 countries for special tariffs unless they signed new deals aligning with American trade interests. So far, only the United Kingdom and Vietnam have complied. A temporary ceasefire deal with China is also in place.  

GTRI Founder Ajay Srivastava said ‘now, Trump is escalating the pressure. On July 7, he signed formal letters to 14 countries, outlining the tariffs they will face from August 1 if they fail to conclude a deal.’ On July 7, Trump-administration announced 25 per cent tariffs on Japan, South Korea, Kazakhstan, Malaysia, Tunisia; 30 per cent on South Africa, Bosnia and Herzegovina; 32 per cent on Indonesia; 35 per cent on Bangladesh, Serbia; 36 per cent Cambodia, Thailand; and 40 per cent tariffs on Laos, Myanmar. He said that these warnings, described by the White House as 'final notices', leave countries with a stark choice to sign a deal on US terms or face punitive duties. He added that the tariff hike is expected to disrupt trade flows, increase consumer prices in the US, and cause broader supply chain complications globally. US imports from China were down by 35 per cent in May 2025 over the previous period.

The CNX Nifty is currently trading at 25457.40, down by 65.10 points or 0.26% after trading in a range of 25455.15 and 25548.70. There were 23 stocks advancing against 27 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 1.95%, Bajaj Finance up by 1.33%, Hindustan Unilever up by 1.31%, Hero MotoCorp up by 0.92% and Ultratech Cement up by 0.92%. On the flip side, Tata Steel down by 2.17%, HCL Technologies down by 1.72%, Hindalco down by 1.55%, Bharat Electronics down by 1.28% and Apollo Hospitals Enterprise down by 1.13% were the top losers.

Asian markets are trading mostly in green; Jakarta Composite gained 30.3 points or 0.44% to 6,934.69, KOSPI increased 18.79 points or 0.6% to 3,133.74, Nikkei 225 surged 132.47 points or 0.33% to 39,821.28, Taiwan Weighted added 164.74 points or 0.73% to 22,527.01 and Straits Times rose 8.88 points or 0.22% to 4,056.74, while Hang Seng declined 255.75 points or 1.07% to 23,892.32 and Shanghai Composite weakened 4.43 points or 0.13% to 3,493.05.

European markets were trading higher; UK’s FTSE 100 increased 7.47 points or 0.08% to 8,861.65, France’s CAC rose 62.17 points or 0.8% to 7,828.88 and Germany’s DAX gained 166.39 points or 0.69% to 24,373.30.
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