Sensex Settles 176 Points Lower, Nifty Below 25,500; HCL Tech Down 2%

Last Updated:July 09, 2025, 15:39 IST

Benchmark indices Sensex and Nifty opened on a cautious note on Wednesday, as investors weigh the impact of fresh US tariff

Sensex Today: Indian equity benchmarks continued their lacklustre, range-bound movement on Wednesday, as investors awaited clearer signals on global trade developments. Reports suggest that US President Donald Trump may unveil a list of seven countries facing new tariff rates as early as Thursday, keeping traders on edge.

The BSE Sensex was trading around 83,599, down 114 points or 0.14%, while the Nifty50 slipped 33 points or 0.13% to 25,490. In the broader market, the Nifty MidCap 100 index was marginally lower by 0.02%, whereas the Nifty SmallCap 100 managed to gain 0.2%, reflecting mixed investor sentiment in the mid and small-cap space.

Analysts expect the range-bound trade to continue till some clarity emerges on the tariff front. They believe Trump’s latest declarations of 50 per cent tariffs on copper imports, 10 per cent tariffs for just being in Brics, no further extension of the August 1 deadline, and a potential 200 per cent tariff on pharmaceutical imports are not being taken seriously by the markets since Trump has a track record of chickening out and changing his announcements.

“In brief, the markets are waiting for clarity to emerge on the trade front. Perhaps, more important from the market perspective in the near term will be the Q1FY26 results (June 2025 quarter results). Midcaps are likely to continue with the earnings growth momentum of Q4FY25, while large-caps could slowly improve earnings growth, but nothing dramatic is on the cards,” said VK Vijayakumar, chief investment strategist, Geojit Investments Ltd.

Global Cues 

Asian markets traded mixed after US President Donald Trump ruled out any extension to the August 1 tariff deadline. Trump also unveiled a new 50% tariff on copper imports and signaled sector-specific levies ahead. Notably, he hinted at tariffs of up to 200% on pharmaceutical exports to the US, though these are expected to be phased in over the next 12 to 18 months.

At the last count, Nikkei was up 0.18 per cent, while the broader Topix index rose 0.19 per cent. South Korea’s Kospi was up 0.19 per cent, and ASX 200 dropped 0.59 per cent. Investors are now monitoring key Chinese economic indicators, including June’s inflation and producer price data.

China’s consumer inflation rose to 0.10 per cent in June, up from a 0.10 per cent decline in May 2025. However, producer prices fell 3.6 per cent Y-o-Y, steeper than the expected 3.2 per cent drop and a deeper decline than May’s 3.3 per cent fall.

On Wall Street overnight, markets closed largely unchanged. The S&P 500 dipped 0.07 per cent to 6,225.52, while the Nasdaq Composite inched up 0.03 per cent to 20,418.46. The Dow Jones lost 0.37 per cent to end at 44,240.76. Investors now await FOMC minutes, which is expected later in the day.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

view comments

First Published: