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Markets manage to keep head above water
Jul-07-2026

Indian equity markets wiped out all of their initial gains in late afternoon session but soon bounced back to trade slightly higher amid volatility ahead of weekly expiry of Nifty F&O contracts. Weakness among the metal and realty stocks weighed on market risk sentiments. However, investors opted to enlarge position in IT stocks ahead of TCS’ first quarter earnings, scheduled for release on July 9, 2026. Further, market participants remained optimistic after Commerce and Industry Minister Piyush Goyal said that India and the European Union (EU) are likely to complete the legal scrubbing of the free trade agreement (FTA) within the next 15-20 days.

On the global front, Asian equity markets were trading mostly in red amid worries over valuation of AI stocks. European equity markets were trading mostly in green after Germany’s industrial production grew more than expected in May.

The BSE Sensex is currently trading at 78398.12, up by 113.05 points or 0.14% after trading in a range of 78248.31 and 78664.92. There were 17 stocks advancing against 13 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 2.38%, TECK up by 1.61%, Consumer Durables up by 0.89%, Oil & Gas up by 0.37% and FMCG up by 0.13%, while Capital Goods down by 1.52%, Realty down by 1.40%, Industrials down by 1.34%, Power down by 0.97% and Metal down by 0.94% were the top losing indices on BSE.

The top gainers on the Sensex were Tech Mahindra up by 3.26%, Infosys up by 3.23%, HCL Technologies up by 3.16%, Titan Company up by 2.85% and TCS up by 2.30%. On the flip side, Trent down by 11.87%, Larsen & Toubro down by 1.21%, Bharat Electronics down by 1.20%, ICICI Bank down by 0.87% and Adani Ports & SEZ down by 0.86% were the top losers.

Meanwhile, raising some concerns, the rating agency, S&P Global Ratings in its latest report has said that a weak monsoon in India may lead to higher inflation, weaken rural demand and strain fiscal balances.

As per the report, rural economy in the country faces a dual threat from an unusually dry southwest monsoon and higher agro-input costs driven by geopolitical conflict. The rating agency identifies the agricultural sector as the most exposed segment. It said farmers face lower yields and therefore lower incomes. This will have knock-on effects for food prices and tractor and two-wheeler manufacturers.

S&P Global Ratings further noted that banks could see slower credit growth and modest deterioration in asset quality but limited earnings impact. According to it, microfinance institutions are more exposed due to larger rural exposure and weaker borrower profiles.

The CNX Nifty is currently trading at 24459.00, up by 28.65 points or 0.12% after trading in a range of 24418.45 and 24530.90. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Infosys up by 3.29%, HCL Technologies up by 3.20%, Tech Mahindra up by 3.16%, Titan Company up by 2.87% and SBI Life Insurance up by 2.37%. On the flip side, Trent down by 11.91%, Adani Enterprises down by 2.20%, Max Healthcare Inst. down by 1.57%, Hindalco Industries down by 1.26% and Bharat Electronics down by 1.21% were the top losers.

Asian equity markets were trading mostly in red; Nikkei 225 slipped 1107.69 points or 1.61% to 68,630.00, Taiwan Weighted lost 1077.28 points or 2.37% to 45,479.11, Hang Seng declined 195.32 points or 0.83% to 23,421.00, KOSPI dropped 395.02 points or 5.16% to 7,656.31 and Shanghai Composite weakened 51 points or 1.28% to 3,990.24, while Straits Times rose 71.96 points or 1.35% to 5,331.77 and Jakarta Composite gained 62.87 points or 1.05% to 5,978.94.

European equity markets were trading mostly in green; UK’s FTSE 100 increased 47.27 points or 0.44% to 10,699.04 and France’s CAC rose 39.63 points or 0.47% to 8,519.50, while Germany’s DAX lost 79.79 points or 0.31% to 25,738.10.
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