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Indian Indices End Up Strong: Sensex (+0.32%) & Nifty (+0.24%) closed positive on July 8, indicating surprising resilience against fresh US tariff threats.
Banking & IT: These sectors led the charge, fueling late buying that pushed Sensex to 83,712.51 and Nifty firmly above 25,500.
Top Gainers: Kotak Mahindra Bank, Eternal, Asian Paints, Infosys, SBI, HDFC Bank, L&T, Tech Mahindra.
Top Losers: Titan led declines, alongside Bharti Airtel, TCS, Reliance, and Tata Steel.
Market Sentiment: Experts advise caution but highlight large-cap strength, with focus shifting to the impending Q1FY26 corporate earnings season.
The Indian equity markets ended the trading session in the green on Tuesday, July 8, 2025. While initial caution prevailed, a late surge, predominantly powered by banking and IT stocks, could be seen. As a result, Sensex climbed by 270.01 points (0.32%) to settle at 83,712.51. The Nifty 50 mirrored this resilience, gaining 61.20 points (0.24%). The index successfully closed above the psychological 25,500 mark at 25,522.50.
The positive close paints a picture of domestic resilience in the face of renewed global trade anxieties. Let’s take a closer look at what happened in the market today, along with a list of stocks to watch for July 9, 2025.
The trading day began on a flat note, reflecting the prevailing global caution. The Sensex opened at 83,387.03, touching an intraday high of 83,812.31 and a low of 83,320.95. This nearly 491-point swing indicates internal volatility, with strong recovery buying in the latter half.
The Nifty 50 also traded within a narrow, yet positive, range between 25,424.15 and 25,548.05. Late recovery highlights institutional investors' pattern of buying into dips, especially in quality names.
Today's market performance highlighted a strong divergence between sectors.
Among the top performers on the Sensex was Kotak Mahindra Bank, which surged by approximately 3.47%. Other significant contributors included Eternal (1.91%), Asian Paints (1.71%), NTPC (1.70%), Grasim (1.50%) and BEL (1.15%). The sheer breadth and weight of these large-cap banking and IT stocks kept the market at green levels.
On the other hand, Titan Company, a prominent Tata Group firm, saw a sharp decline of over 6.13%. Other underperformers included Dr. Reddy's Labs (2.04%), Cipla and Bajaj Auto (1.47%), Trent (1.07%), Hindalco (0.94%),and Maruti Suzuki (0.85%). These top losers of the day indicate pressure across pharma, luxury goods, and auto sectors.
In the derivatives market, significant build-ups of open interest were observed, reflecting active trading and strategic positioning. The highest open interest on the call side was concentrated at the 25,500 strike. Meanwhile, puts showed strong concentration at both 25,500 and 25,400.
The Put-Call Ratio (PCR), a key sentiment indicator, stood at 0.78. This PCR value, while indicating mild bearishness, suggests slight caution rather than outright fear. It implies that put writing (betting aggressively on downside protection) is not taking place.
Brokerage reports suggest that if the Nifty manages to break and sustain above the 25,600 resistance level decisively, the next potential target could be around 25,800. However, failure to hold above 25,500 could keep the index within a consolidation zone of 25,200-25,800 in the near term.
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BSE today presented a mixed picture on closing. A total of 118 stocks managed to hit fresh 52-week highs. On the other hand, 48 stocks touched 52-week lows, underscoring selective opportunities.
Among the notable names hitting 52-week highs were Apollo Hospitals, Divis Labs, Laurus Labs, JM Financial, Navin Fluorine, and SRF. They point to continued bullishness in specific healthcare, specialty chemicals, and financial services niches.
Conversely, Protean eGov, SpiceJet, Jindal Worldwide, Dreamfolks, and V R Films touched fresh 52-week lows. Therefore, reflecting ongoing sectoral challenges or company-specific weaknesses.
The Indian Rupee (INR) demonstrated strength on July 8, appreciating by 26 paise to settle at 85.68 against the US dollar. This strengthening was primarily supported by sustained foreign institutional inflows and a decline in global crude oil prices.
Welcure Drugs announced the successful execution of export-sourcing orders valued at ₹299.91 crore. Hence, signaling positive movement for the pharmaceutical export sector.
Additionally, Omaxe made headlines with the announcement of a major township project in Indore. The project involves a substantial 450-acre land acquisition. The news highlights continued bullish sentiment and activity in the real estate development sector.
Kotak Mahindra Bank and HDFC Bank will stay in focus after leading gains on July 8. Titan may remain volatile after its sharp decline, while TCS could attract pre-earnings positioning ahead of its July 10 earnings announcement.
Real estate and oil marketing stocks like Omaxe, Phoenix Mills, HPCL, and BPCL may see action due to positive updates. Derivatives-heavy counters such as BSE and ANGELONE also warrant close tracking, along with Bharti Airtel, which saw notable losses.
Markets are expected to remain range-bound on July 9, with stock-specific movement dominating due to the Q1FY26 earnings season. Nifty and Sensex face resistance near 25,880 and 84,820, respectively. At the same time, Bank Nifty and FINNIFTY show improving strength.
Technical indicators for July 9 trading remain supportive, though caution is advised amid global and domestic triggers.
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