The BSE Sensex rose 270.01 points or 0.32% to settle at 83,712.51, while the NSE Nifty 50 added 61.20 points or 0.24% to end at 25,522.50.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, July 8, 2025: Today, the benchmark indices witnessed positive momentum. The Nifty closed 61 points higher, while the Sensex was up by 270 points. Among sectors, the Reality Index was the top gainer, rallying over 1 percent, whereas the Consumer Index lost the most, shedding over 2.30 percent.
Technically, on the daily and intraday charts market has formed reversal formation which supports further uptrend from the current levels. For the bulls, key levels to watch are 25,500/83,500. Above these levels, the market could continue its positive momentum toward 25,650–25,700 / 84,000–84,200.
On the downside, if the market falls below 25,400/83,300, sentiment could shift. A decline below these levels might retest 25,300/83,000. Further weakness could persist, potentially dragging the market down to 25,200–25,175 / 82,700–82,600.
Gaurav Garg, Lemonn Markets Desk, adds:
"Indian equity benchmarks ended with modest gains in a largely rangebound session on Tuesday, supported by select heavyweights amid mixed global cues.
At close, the BSE Sensex rose 270.01 points or 0.32% to settle at 83,712.51, while the NSE Nifty 50 added 61.20 points or 0.24% to end at 25,522.50. Market breadth remained broadly negative, with 1,889 stocks advancing, 1,990 declining, and 124 remaining unchanged, reflecting mild underperformance in the broader markets.
Sectorally, strength was seen in Bank Nifty, which outperformed with gains of around 60 basis points, led by private sector banks. IT, realty, and media stocks also contributed positively. On the other hand, weakness persisted in pharma, public sector banking, and FMCG counters. The India VIX, a gauge for market volatility, eased by over 3% to 12.18, indicating a slight cooling in near-term risk perception.
On the macro front, investor focus remained on the anticipated announcement of a mini trade deal between India and the US, expected by late evening. As per media reports, while the deal is likely to be confirmed today, granular details may follow subsequently. Importantly, the 10% baseline US tariffs are expected to remain, though labour-intensive sectors such as textiles, garments, and leather may benefit from reduced tariffs under the proposed agreement.
Meanwhile, capital market-linked stocks witnessed pressure amid speculation that SEBI may deliberate on proposals linking options exposure to cash market balances—a move that could potentially enhance cash segment liquidity while restraining speculative build-up in derivatives.
The market remains in a zone of elevated uncertainty, both on the global trade front and regulatory landscape. Traders should adopt a buy-on-dips strategy but maintain tight stop losses to manage risk. Fresh long positions can be considered only if Nifty sustains above 25,600, with a watchful eye on sector rotation and global headlines.
With the broader market tone turning cautiously optimistic, near-term movements may hinge on the trade pact announcement and clarity on regulatory changes. Volatility may stay elevated, warranting disciplined risk management."
