Indian stock market benchmarks, the Sensex and the Nifty 50, ended higher on Thursday, July 4, snapping a two-day losing streak, supported by select heavyweight stocks. Despite the day’s gains, both indices ended the week with losses, marking a break from their two-week winning trend.
The BSE Sensex closed 193 points, or 0.23%, higher at 83,432.89, while the Nifty 50 advanced 56 points, or 0.22%, to settle at 25,461. The broader markets also edged up, with the BSE Midcap index gaining 0.23% and the Smallcap index adding 0.17%.
Key Drivers of Market Movement
Market sentiment remained cautious amid lingering concerns over trade tariffs and the upcoming Q1FY26 earnings season. However, gains in key stocks such as ICICI Bank, Infosys, Reliance Industries, and HDFC Bank provided support to the indices.
Vinod Nair, Head of Research at Geojit Financial Services, said, “The Indian market is in a consolidation phase ahead of the US tariff deadline and quarterly earnings. FIIs are adopting a risk-off strategy, though DIIs are cushioning the downside. After a recent rally, valuations are stretched, leaving limited room for upside unless earnings surprise positively.”
Sectoral and Stock Highlights
- Nifty Bank rose 0.42%, rebounding after two sessions of losses. Financial Services also gained 0.49%.
- Sectorally, Oil & Gas, IT, Pharma, and Realty indices rose nearly 1% each.
- The Metal and Auto sectors were the only major laggards, down 0.45% and 0.10%, respectively.
Top Performers in Nifty 50
Out of the 50 stocks on the index, 31 ended in the green.
- Bajaj Finance surged 1.74%
- Dr. Reddy’s Laboratories rose 1.45%
- Infosys gained 1.30%
Notable Declines
- Trent plummeted 11.37%, the steepest fall on the index
- Tata Steel declined 1.69%
- Eicher Motors dropped 1.58%
High Activity Stocks
Among the most traded stocks on the NSE were:
- PC Jeweller (43.62 crore shares)
- Vodafone Idea (40.30 crore shares)
- Ola Electric Mobility (8.58 crore shares)
Stocks on the Move
- Six stocks, including Mazda, PC Jeweller, and Veranda Learning, surged over 10%.
- Four stocks, such as Dreamfolks Services and Nuvama Wealth, fell more than 10%.
Circuit Breakers
- 101 stocks hit upper circuits, including Paras Defence and Gensol Engineering.
- 45 stocks hit lower circuits, such as Kernex Microsystems and Globe Civil Projects.
Market Breadth and Milestones
Out of 4,189 stocks traded on the BSE:
- 2,259 advanced
- 1,790 declined
- 140 remained unchanged
Additionally, 130 stocks hit 52-week highs, including Divis Laboratories, Marico, and Max Healthcare. Meanwhile, 59 stocks touched 52-week lows, such as Concor and Protean eGov Technologies.
With the July 9 India-US trade deal deadline and the start of the Q1 earnings season approaching, analysts expect continued volatility and stock-specific action in the short term. Market participants are likely to remain cautious, awaiting clearer signals from global and domestic developments.