Nifty Below 25,400, Sensex Down 300 pts as IT Drags; TCS Q1 Eyed – July 10 Market

Markets fall amid US-India trade deal uncertainty, TCS Q1 results awaited; Nifty IT, PSU Banks under pressure

Indian equity benchmarks drifted lower on July 10, with Nifty 50 falling below the 25,400 mark and Sensex losing over 300 points, as global uncertainty and cautious positioning ahead of the TCS Q1 FY25 earnings and US-India trade negotiations weighed on sentiment.

At 2:01 p.m., the Sensex was down 314.48 points at 83,221.60, while the Nifty slipped 99.40 points to 25,376.70. Weakness was broad-based, with all sectoral indices in the red except Nifty Metal and Realty. The BSE Midcap was down 0.4%, while the Smallcap index traded flat. India VIX dipped 2.09% to 11.94, suggesting a cautious undertone.

Also Read : Prestige Estates Shares Rise 2% as Brokerages Cheer Record Q1 Performance

Sectoral Trends & Stock Action

Top losers on Nifty:

• Bharti Airtel, HDFC Life, Wipro, Tech Mahindra, Cipla

Also, Check the Stock Price:

• Bharti Airtel Stock Price
• HDFC Life Stock Price

Top gainers:

• IndusInd Bank, Maruti Suzuki, Tata Steel, Jio Financial, Bajaj Finance

Also, Check the Stock Price:

• IndusInd Bank Stock Price
• Maruti Suzuki Stock Price

Sectoral laggards:

• Nifty IT led the decline, followed by Pharma, Telecom, FMCG, Auto, PSU Banks

• Enviro Infra surged 6% after JV won ₹395 Cr project

• Waaree Energies rose 2% post OFS announcement

Market Outlook & Cues Ahead

Investor sentiment remains cautious ahead of the TCS earnings expected later today. Analysts anticipate a 0.5% QoQ revenue drop and flat EBIT margin amid weak utilisation and high talent costs.

Technical indicators show strong resistance at 25,500 on Nifty. Broader volatility is likely to persist amid tariff-related uncertainty and upcoming results.

Global cues remain mixed:

• S&P 500 futures down 0.2%

• Japan’s Topix fell 0.7%, while ASX 200, Hang Seng, and Shanghai Composite posted modest gains.