Indian stock markets closed lower on Friday, July 11, with the BSE Sensex and NSE Nifty ending the session under pressure due to heavy selling in IT and automobile sectors. Key laggards included TCS shares, HCL Technologies, Mahindra & Mahindra (M&M), Bharti Airtel, Tech Mahindra, Tata Motors, Trent, Reliance Industries (RIL), and HDFC Bank.
The broader market indices also declined, with the Nifty MidCap index down 0.75 per cent and the Nifty SmallCap index falling 0.96 per cent. Sector-wise, the Nifty IT index dropped 1.6 per cent, and the Nifty Auto index declined 1.24 per cent. On the upside, the Nifty Pharma and FMCG indices gained 0.81 per cent each, supported by strong performances from HUL and others.
TCS shares fell 2 per cent after the company reported Q1 FY26 revenue of ₹63,437 crore, showing a 1.3 per cent year-on-year growth but a 3.1 per cent decline in constant currency terms. Glenmark Pharmaceuticals shares surged 10 per cent hitting the upper circuit following the announcement by Ichnos Glenmark Innovation about global commercialization plans for ISB 2001, a key oncology drug candidate.
IREDA shares declined 5 per cent after reporting a 36 per cent year-on-year drop in Q1 net profit, while Tata Elxsi shares fell 7 per cent post Q1 earnings. Meanwhile, HUL shares gained 4 per cent after appointing Priya Nair as Managing Director and CEO effective August 1, marking a significant leadership change.
