The Indian stock markets closed a highly volatile session on Monday with benchmark indices ending flat, as investor mood remained jittery ahead of the July 9 US tariff announcement and continued foreign institutional investor (FII) selling. While frontline indices managed to recover from sharp intraday lows, overall market sentiment stayed cautious.
At the close, the BSE Sensex added a marginal 9.61 points to settle at 83,442.50, while the NSE Nifty50 ended nearly unchanged at 25,461.30. Both indices had opened deep in the red amid weak global cues and concerns over trade tensions.
Early plunge, late recovery
Markets witnessed intense selling pressure at the open, with the Sensex falling nearly 500 points in the pre-open session and slipping below 82,950, while the Nifty tested the 25,200 mark. However, buying in select heavyweight stocks helped cap the downside.
US President Donald Trump’s update that new tariff rates would apply only from August 1, despite being announced on July 10, offered temporary relief and led to some recovery in risk sentiment.
Top gainers and laggards
On the Sensex, buying was seen in HUL, Kotak Mahindra Bank, ITC, Asian Paints, and Reliance Industries, while BEL, Tech Mahindra, UltraTech Cement, HCL Tech, and Maruti Suzuki were among the major losers.
In sectoral performance, the Nifty FMCG index outperformed the broader market, ending the day with gains of 1.68 per cent, as investors shifted focus to defensives. In contrast, IT & Telecom and media stocks took a beating, with the Midsmall IT index losing 1.07 per cent and the media index down 1.03 per cent.
The Nifty Microcap250 index bore the brunt in the broader market space, slipping 0.47 per cent.
FIIs extend selloff
Foreign investors continued to dump Indian equities, withdrawing Rs 760.11 crore on Friday, as per provisional exchange data. This marks yet another session of persistent FII outflows, which have weighed on the markets over the past few weeks.
Market outlook
With Trump’s tariff announcement looming, and earnings season around the corner, traders are likely to remain cautious in the near term. Analysts suggest tracking global cues, crude oil movement, and institutional flows closely for directional clarity.
Key levels to watch
| Index | Closing Level | Movement |
|---|---|---|
| Sensex | 83,442.50 | +9.61 |
| Nifty50 | 25,461.30 | -0.65 |
| Nifty FMCG | – | +1.68% |
| Nifty Midsmall IT | – | -1.07% |
| Nifty Media | – | -1.03% |
| Nifty Microcap250 | – | -0.47% |
