Indian equity benchmarks ended lower on Wednesday as caution persisted amid uncertainty around the India–U.S. trade deal and the kickoff of the Q1 earnings season
Gaurav Garg,
Lemonn Markets Desk
Mumbai, July 9, 2025: Indian equity benchmarks ended lower on Wednesday as caution persisted amid uncertainty around the India–U.S. trade deal and the kickoff of the Q1 earnings season. The Sensex declined 238.14 points (–0.28%) to close at 83,474.37, while the Nifty 50 shed 45.40 points (– 0.18%) to settle at 25,477.10.
Sectoral performance on the NSE was mixed. Nifty FMCG led the gainers, rising 0.68%, buoyed by strength in select consumer stocks. Nifty Auto and Pharma indices also posted modest gains. However, selling pressure weighed on IT (- 0.91%), Metal (1.67%), and Realty (–1.71%), while Energy and Infra sectors slipped by up to 1%.
Broader market sentiment remained relatively steady, with the Nifty Smallcap 100 outperforming with a 0.61% gain, while Midcaps traded flat. Market breadth was evenly poised, with 1,776 stocks advancing, 1,734 declining, and 107 unchanged on the NSE. Meanwhile, volatility eased, as the India VIX fell nearly 2% to 11.96, signaling a more stable trading environment despite global and domestic overhangs."
Shrikant Chouhan, Head Equity Research, Kotak Securities, adds: "Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 46 points lower, while the Sensex was down by 176 points. Among sectors, selective FMCG stocks registered intraday buying interest, whereas the Reality ,Metal, Oil and Gas indices shed over 1 percent.
Technically, a small bearish candle on the daily charts and non-directional activity on intraday charts indicate indecisiveness between the bulls and the bears. We believe that the current market texture is non-directional; perhaps traders are waiting for either side to break out. For the bulls, the breakout zones for day traders are 25,550/83,800. Above these levels, the market could rally to 25,650-25,725 / 84,000-84,400. On the flip side, a dismissal of 25,400/83,350 could accelerate selling pressure. Below these levels, the market may retest the levels of 25,300/83,000. Further downside could continue, potentially dragging the market to 25,200-25,175 / 83,000-82,900.
