Markets slump on TCS earnings disappointment, profit booking across sectors; Glenmark Pharma, HUL offer rare relief<\/p>\n
Mumbai, July 11 \u2013 Indian equity benchmarks remained under bear control through Friday\u2019s session as broad-based selling, weak IT earnings, and technical breakdowns dragged the Nifty 50<\/a> below 25,200 and the Sensex down over 700 points at intraday lows. With volatility spiking and sectoral breadth largely negative, experts advise a cautious \u201cwait and watch\u201d stance, especially after TCS\u2019s muted Q1 results triggered concerns about the overall earnings season.<\/p>\n By 2:40 p.m., the Sensex<\/a> was down 634.49 points (0.76%) at 82,555.79, while the Nifty slipped 188.85 points (0.74%) to 25,166.40. Market breadth was clearly negative, with 2,205 declining shares vs. 1,261 gainers, reinforcing bearish momentum. The Nifty Midcap 100 and Smallcap 100 indices also lost 0.7% and 1%, respectively.<\/p>\n Also Read : Defence Stocks Slip Again: BEML, BDL, Mazagon Dock Fall Up to 3.5% on Profit Booking<\/a><\/p>\n The sharpest sectoral losses were seen in Nifty IT, which fell 1.8%, led by negative sentiment post TCS Q1 results. The company posted a 6% YoY profit growth to \u20b912,760 crore but disappointed on revenue metrics. Rupee revenue rose just 1.3%, while constant currency revenue fell 3%, impacted by BSNL contract exit and macro softness.<\/p>\n \u201cTCS commentary reflects continuing pressure on large-cap IT firms. Unless midcap IT surprises, Nifty IT could stay weak,\u201d said an analyst from a domestic brokerage.<\/p>\n<\/blockquote>\n Nifty Media: -1.5%<\/p>\n<\/li>\n Nifty Auto: -1.4%<\/p>\n<\/li>\n Nifty Realty \/ Infra: -1% each<\/p>\n<\/li>\n<\/ul>\n On the flip side, Nifty Pharma bucked the trend, rising 0.9%, aided by a 20% rally in Glenmark Pharma. The surge came after its subsidiary signed a global licensing deal for cancer drug ISB 2001 with AbbVie, triggering buying interest.<\/p>\n Nifty FMCG also gained 0.7%, led by Hindustan Unilever Ltd (HUL) after it announced that Priya Nair would take over as CEO from August 1, 2025, succeeding Rohit Jawa. Markets viewed the change positively, anticipating a strategic reset at the FMCG major.<\/p>\n From a technical perspective, Nifty\u2019s breach of the 25,300 level confirmed a short-term breakdown, with downside targets now placed near 25,100\u201325,000, according to Mandar Bhojane, Senior Analyst, Choice Broking.<\/p>\n \u201cUnless Nifty reclaims 25,500\u201325,600 resistance zones, it remains vulnerable. Traders should avoid aggressive positions and use stop-losses.\u201d<\/p>\n<\/blockquote>\n Volatility is expected to remain elevated as global cues remain uncertain, earnings season is underway, and traders digest macro-level shifts in leadership, taxation, and geopolitical conditions.<\/p>\n With market sentiment fragile and no immediate triggers for a sharp rebound, analysts recommend staying defensive. Pharma, FMCG, and selective large-cap consumption plays may offer relative shelter.<\/p>\n IT & Auto \u2013 Weakness likely to persist post earnings<\/p>\n<\/li>\n Pharma \u2013 Tailwind from global licensing deals, Glenmark action<\/p>\n<\/li>\n FMCG \u2013 Leadership change at HUL may spark re-rating<\/p>\n<\/li>\n<\/ul>\n Nifty: 25,000\u201325,100<\/p>\n<\/li>\n Sensex: 82,000\u201382,200<\/p>\n<\/li>\n Nifty: 25,500\u201325,600<\/p>\n<\/li>\n<\/ul>\n Check This:<\/strong><\/p>\n Markets slump on TCS earnings disappointment, profit booking across sectors; Glenmark Pharma, HUL offer rare relief Mumbai, July 11 \u2013 Indian equity benchmarks remained under bear control through Friday\u2019s session as broad-based selling, weak IT earnings, and technical breakdowns dragged the Nifty 50 below 25,200 and the Sensex down over 700 points at intraday lows. […]<\/p>\n","protected":false},"author":4,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1331],"class_list":{"0":"post-11444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1331,"user_id":4,"is_guest":0,"slug":"sourabh","display_name":"Sourabh Sharma","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/11444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=11444"}],"version-history":[{"count":4,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/11444\/revisions"}],"predecessor-version":[{"id":11461,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/11444\/revisions\/11461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/11445"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=11444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=11444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=11444"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=11444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}TCS Earnings Weigh on IT, Drag Sector Down 1.8%<\/h2>\n
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Other sector losers:<\/h3>\n
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Glenmark Pharma, HUL Offer Pockets of Resilience<\/h2>\n
Breakdown Below 25,300 Sparks Fresh Weakness<\/h2>\n
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Elevated Volatility Ahead \u2013 Focus on Pharma, FMCG, Defensive Picks<\/h2>\n
Sectors to Watch:<\/h3>\n
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Support Levels:<\/h3>\n
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