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Sensex, Nifty trade under pressure; IT stocks fall on TCS’ Q1 result
Jul-11-2025

Indian equity benchmarks made gap-down opening on Friday amid uncertainty surrounding US President Donald Trump's trade policies, as he continues to threaten elevated tariffs across various sectors and countries. He announced that Canada will face a 35% tariff starting August 1, further fuelling uncertainties around the global tariff war which he initiated in April. Sensex and Nifty are trading under pressure in early deals due to selling in IT and TECK stocks following lower-than-expected Tata Consultancy Services (TCS) Q1 earnings. The country's largest software services exporter has warned of delayed client decisions and paused projects against the backdrop of a sluggish macroeconomic environment, cautious customer sentiment and geopolitical instability. On the global front, Asian markets are trading mostly higher as investors absorbed US President Donald Trump’s latest tariff salvos. There are expectations that most countries will strike a deal to avoid the worst of his levies.

The BSE Sensex is currently trading at 82999.31, down by 190.97 points or 0.23% after trading in a range of 82791.83 and 83040.74. There were 13 stocks advancing against 17 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index fell 0.03%, while Small cap index was up by 0.07%.

The top gaining sectoral indices on the BSE were FMCG up by 0.99%, Healthcare up by 0.68%, Metal up by 0.47%, Basic Materials up by 0.39% and Utilities up by 0.30%, while IT down by 1.04%, TECK down by 1.03%, Oil & Gas down by 0.53%, Energy down by 0.51% and Capital Goods down by 0.47% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 4.25%, Sun Pharma up by 0.77%, Axis Bank up by 0.64%, Asian Paints up by 0.58% and NTPC up by 0.51%. On the flip side, TCS down by 1.84%, Infosys down by 1.64%, Mahindra & Mahindra down by 1.51%, Reliance Industries down by 0.80% and Bajaj Finserv down by 0.73% were the top losers.

Meanwhile, expressing an optimism over India’s economic growth prospects, Minister of State for Ports, Shipping and Waterways Shantanu Thakur has said that the country will have to increase its exports to become the world’s third-largest economic power, and the shipping and waterways sector will play a vital role in enhancing exports.

He stresses the need for equal and balanced focus on the development of each sector and said priority must be given to enhancing the value of Indian products. He highlighted that the reduction of turnaround time for transporting goods from one state to another is of paramount importance.

He added that the use of artificial intelligence is imperative for the deeper development of the shipping and logistics sector. Noting that 70 per cent of trade is conducted via shipping, he stressed the need for vast development of the shipping industry.

The minister also emphasised the need to improve communication systems to establish a robust connectivity infrastructure across the country -- from the Northeast to the Northwest -- ensuring seamless first-mile and last-mile connectivity.

The CNX Nifty is currently trading at 25297.55, down by 57.70 points or 0.23% after trading in a range of 25244.00 and 25322.45. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Hindustan Unilever up by 4.50%, Axis Bank up by 0.97%, SBI Life Insurance up by 0.93%, Ultratech Cement up by 0.87% and Grasim Industries up by 0.85%. On the flip side, TCS down by 2.12%, Wipro down by 1.49%, Infosys down by 1.41%, Mahindra & Mahindra down by 1.26% and Bharti Airtel down by 1.13% were the top losers.

Asian markets are trading mostly in green; Hang Seng jumped 433.2 points or 1.77% to 24,461.57, Taiwan Weighted rose 71.28 points or 0.31% to 22,764.53, Jakarta Composite gained 37.89 points or 0.54% to 7,043.26, Shanghai Composite strengthened 36.82 points or 1.04% to 3,546.50, Straits Times added 18.71 points or 0.46% to 4,094.41 and KOSPI was up by 2.79 points or 0.09% to 3,186.02, while Nikkei 225 slipped 64.63 points or 0.16% to 39,581.73.
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