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Current Market Mood is ‘Wait and Watch’: Both the Sensex and Nifty are largely flat today, caution stems from the impending Q1 FY26 earnings season.
Top Gainers and Losers of the Day: Shriram Finance tops gains, rising 1.84%. Meanwhile, Tata Steel leads the downtrend on the Nifty 50 with a 2.30% drop.
India-US Trade Deal Talk Influences Sentiment: A positive outcome could provide a boost, especially to export-oriented sectors.
Indian stock markets are experiencing cautious trading today, July 9, 2025 (2:45 PM). Both the BSE Sensex and NSE Nifty are mainly flat. This suggests a wait-and-see approach from investors, as global uncertainties and upcoming Q1 FY26 earnings persist. While broader markets show mixed signals, specific sectors and individual stocks are making significant moves. Will it be enough to uplift the market sentiment? Let’s see in detail!
The BSE Sensex is trading with a minor decline, just below the 83,700 mark. Meanwhile, the Nifty index is moving towards the 25,500 mark. The Nifty Bank index is also trading with a deficit of about 0.25%. This reflects some pressure on banking stocks.
In the broader market, Nifty MidCap index has slumped. On the other hand, Nifty SmallCap index is trading with gains of 0.56%. It means that investors are taking an active interest in smaller companies.
Among sectoral indices, the Nifty FMCG (Fast Moving Consumer Goods) index has taken the lead. It has picked up from Nifty Media, which led the charge earlier in the morning. Pharma stocks are also notably in focus today. This indicates investor confidence in the healthcare sector.
Among the top performers in the Indian stock market today was Shriram Finance, which gained 1.84% to trade at ₹681.25. Hindustan Unilever was also up 1.55% at ₹2,429.70. Bajaj Finance saw a 1.36% increase, reaching ₹940.25. Jio Financial was up 1.26% at ₹333.00. Mahindra & Mahindra (M&M) contributed to the gains with a 0.79% rise, trading at ₹3,183.00.
Conversely, several stocks experienced declines. Tata Steel was down 2.30% at ₹158.24. HCL Tech fell 2.06% to ₹1,672.90. Hindalco saw a 1.99% loss, trading at ₹671.95. Wipro declined by 1.71% to ₹265.05. Dr. Reddy's Laboratories also faced selling pressure, dropping 1.08% to ₹1,269.90.
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Shares of Anil Agarwal-owned mining conglomerate Vedanta and its subsidiary Hindustan Zinc fell sharply today. Vedanta declined by over 7%, and Hindustan Zinc was down 2.8%. This significant drop followed an alert from US-based short-seller Viceroy Research.
The US firm alleged material discrepancies in the group’s financials. It also likened the parent company, Vedanta Resources, to a ‘Ponzi scheme.’ Viceroy's report claims the group's financial structure is unsustainable. It further states that the group relies on cash extraction from subsidiaries, creating a severe risk for creditors.
Phoenix Mills shares declined by over 3% today. This decline follows the initiation of coverage on the stock by brokerage firm Nomura, which assigned a ‘reduce’ rating. They assigned a price target of ₹1,400 per share, citing weaker-than-expected growth.
Union Bank shares declined by 4%. This followed the public sector bank's announcement of its business updates for the first quarter of FY26. The update revealed a sequential decline in both loan advances and deposits, sparking investor concerns.
Global gross advances declined 0.85% quarter-on-quarter to ₹9.74 lakh crore. Domestic deposits slipped 2.54% quarter-on-quarter to ₹12.39 lakh crore. However, domestic retail advances showed strong growth, rising 25.60% year-on-year.
Many stocks witnessed significant trading volumes as of 1.30 PM. Medanta, Elgi Equipment, Syrma SYS, PCBL Chemicals, and NivaBupa were among the prominent volume buzzers. Beyond these, Force Motors experienced a strong rally, surging 10%.
In other corporate news, Schloss Bangalore, the owner of the Leela Hotels chain, saw its stock boosted. This followed the initiation of coverage by global brokerage firm JPMorgan, which recommended the stock with an 'Overweight' rating. They set a price target of ₹510, which implies a potential upside of nearly 20%.
AurionPro also made headlines by signing a deal for digital banking solutions with a leading bank in Africa. Additionally, Reliance NU Suntech, a subsidiary of Reliance Power, received a favorable order from the Delhi High Court. The order maintains the status quo in a case involving Solar Energy Corporation of India (SECI). It restrains SECI from terminating its power purchase agreement.
The initial public offering (IPO) of Travel Food Services, comprising an entirely offer-for-sale (OFS) worth ₹2,000 crore, closes for subscription today. The price band is ₹1,045-₹1,100 per share with a lot size of 12 shares. The IPO had received a total subscription of 0.38 times by the early morning on July 9. Allotment is expected on July 10, with listing tentatively scheduled for July 14.
The Trump administration's recent announcement of new tariff rates, combined with the upcoming August 1 deadline, is influencing market sentiment. Nomura expects India to strike a favorable trade deal soon as negotiations continue for other Asian countries. This could remove a major overhang for export-oriented sectors if signed before the July 9 deadline.
Ajit Mishra, SVP of Research at Religare Broking, commented on the development. He advised, "Participants should avoid complacency and maintain their focus on stock selection, as sectoral participation continues on a rotational basis."
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Traders are currently awaiting further updates on the India-US trade deal. A signed agreement could lead to further gains. The focus will also shift to the upcoming quarterly earnings season, expected to begin next week with IT companies.
Foreign institutional investor (FII) activity will also play a crucial role in determining the short-term market direction. FIIs have been net buyers in recent sessions. Experts advise maintaining focus on stock selection as sectoral participation continues on a rotational basis.
1. Why did Vedanta shares fall today?
Vedanta and its subsidiary Hindustan Zinc saw sharp declines today, with Vedanta dropping over 7%. This was triggered by a report from US-based short-seller Viceroy Research, which alleged significant financial discrepancies within the Vedanta group. The US firm described Hindustan Zinc’s parent company as financially unsustainable.
2. What's the latest stock market news?
The Indian stock market is trading cautiously today, with the Sensex and Nifty largely flat. Key factors include lingering global uncertainties, the upcoming Q1 FY26 earnings season, and developments surrounding the India-US trade deal.
3. Reliance Power SECI case update?
Reliance NU Suntech, a subsidiary of Reliance Power, received a favorable order from the Delhi High Court. The court has directed Solar Energy Corporation of India (SECI) to maintain a status quo. Thus, preventing SECI from terminating their power purchase agreement. This is a positive development for Reliance Power concerning this ongoing case.
4. Which are the top gainers and losers in stocks today?
Today's top gainers include Shriram Finance (+1.84%), HUL (+1.55%), Bajaj Finance (+1.36%), Jio Financial (+1.26%), and M&M (+0.79%). On the losing side, Tata Steel (-2.30%), HCL Tech (-2.06%), Hindalco (-1.99%), Wipro (-1.71%), and Dr. Reddy's Labs (-1.08%) were among the biggest decliners.
5. Which stocks made big moves today?
Several stocks are buzzing with activity. Force Motors surged 10%, and Medanta shares rose over 8%. PCBL Chemicals, Garden Reach, and Sterling and Wilson also saw significant gains. Schloss Bangalore (Leela Hotels) received a boost after JPMorgan initiated 'Overweight' coverage. Additionally, AurionPro announced a new deal for digital banking solutions in Africa.
