The BSE Sensex closed at 83,190.28, down by 345.8 points (0.41%), while the Nifty50 ended at 25,355.25, losing 120.85 points (0.47%).
In the broader market, the Nifty MidCap and Nifty SmallCap indices also showed a decline of 0.32% and 0.3%, respectively. As the uncertainty over global trade policies looms large, the market faced a tough time maintaining upward momentum.
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Impact on the stock market
Sectoral indices performance
Looking at the sectoral performance, Nifty PSU Bank and Nifty IT stocks were among the worst performers, both falling by 0.8%. IT stocks, in particular, remained under pressure, primarily driven by the anticipation surrounding Tata Consultancy Services’ (TCS) Q1 results. Other sectors such as Auto, Bank, Energy, Financial Services, FMCG, Pharma, Healthcare, and Oil & Gas also saw declines.
However, on the flip side, Nifty Metal, Realty, and Consumer Durables stocks bucked the trend and ended the day higher. This divergence in sector performance highlighted the mixed sentiment in the market, with certain areas outperforming despite broader market headwinds.
| Sector/Index | Performance |
| IT & BPM sector | -0.79% |
| Healthcare sector | -0.56% |
| Oil & Gas sector | -0.03% |
| Real estate sector | +0.72% |
| PSU Bank in India | -0.80% |
Top gainers today
| Company | Price (in ₹) | Change % |
| IndusInd Bank Share Price | 852.85 | 1.44 |
| Maruti Suzuki Share Price | 12,650.00 | 1.44 |
| Tata Steel Share Price | 160.66 | 1.04 |
| Bajaj Finance Share Price | 947.65 | 0.75 |
| Bajaj Finserv Share Price | 2,039.40 | 0.64 |
Top losers today
| Company | Price (in ₹) | Change % |
| Bharti Airtel Share Price | 1,964.50 | -2.73 |
| Asian Paints Share Price | 2,451.20 | -1.91 |
| HDFC Life Share Price | 771.25 | -1.91 |
| Apollo Hospital Share Price | 7,359.00 | -1.47 |
| Shriram Finance Share Price | 671.75 | -1.37 |
Market aftermath: Impact on stocks
ACME Solar Shares Surge on Bullish Call
Turning our attention to some individual stocks, ACME Solar Holdings saw a significant jump of 8% on July 10, continuing its winning streak for the fourth consecutive day. The stock hit a seven-month high of ₹288.90. This uptick came after Elara Capital initiated coverage on the stock with a Buy rating, setting a target price of ₹325, which represents a 30% upside from its current levels.
Elara Capital cited the company’s rapidly expanding portfolio in the renewable energy sector, especially with India’s ambitious target to reach 500GW of renewable energy capacity by FY30. With 2.8GW of operational capacity and 4.1GW under development, the company is poised for significant growth, with revenue and EBITDA expected to quadruple by FY28.
IREDA Shows Growth in Loan Sanctions
Another stock that caught attention was Indian Renewable Energy Development Agency (IREDA), which saw its share price rise by over 2% ahead of its quarterly earnings announcement. IREDA’s loan book grew by 26.5% year-on-year, reaching nearly ₹80,000 crore, with loan sanctions and disbursements up by 28.5% and 31.1%, respectively.
This performance highlights the company’s strong position in the renewable energy financing space, even as its shares have been under pressure for much of the year. Despite a 22% drop since the start of the year, the latest numbers seem to indicate a positive outlook for IREDA, especially as the demand for renewable energy financing continues to rise.
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AMC Stocks See Positive Momentum
In the asset management sector, AMC stocks saw strong gains, with companies like UTI AMC, Aditya Birla Sun Life AMC, and Nippon Life India Asset Management recording significant upward movements. The surge in these stocks came on the back of positive data released by AMFI for June, showing a 24% increase in net inflows into equity mutual funds, amounting to ₹23,587 crore. This growth reversed the declining trend seen in the last five months, giving a much-needed boost to investor sentiment in the mutual fund space.
Additionally, the announcement that ICICI Prudential AMC had filed papers for a ₹10,000-crore IPO further fueled the positive momentum in the sector. This IPO filing is a significant development, as it is expected to bring fresh investor interest to the Indian mutual fund industry.
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Crude Oil Stays Flat Despite Global Concerns
Turning to the commodities market, crude oil futures remained relatively flat on the morning of July 10, despite concerns that US tariff policies could harm the global economy. As of 9:56 AM, Brent oil futures stood at $70.23 per barrel (up by 0.06%), while WTI crude was at $68.37 (down by 0.01%).
These movements reflect the uncertainty in global markets, with potential US tariffs causing fears of demand destruction that could impact oil prices. Additionally, the US Energy Information Administration (EIA) reported a 7.1 million barrel increase in US crude oil inventories for the week ending July 4, signaling potential oversupply concerns.
Meanwhile, natural gas futures saw a slight uptick, with July natural gas trading at ₹274.10, a 0.37% increase.
Conclusion
Today’s stock market performance shows how global uncertainties—whether from tariff policies or corporate earnings—can drive market fluctuations. The broad market indices, like the Sensex and Nifty, posted losses, but specific stocks in sectors like renewable energy, asset management, and consumer durables showed strength.
Investors are clearly divided between cautiousness and optimism, with some sectors feeling the heat of global trade tensions while others find reasons to rally. For now, all eyes are on upcoming earnings reports and external factors like crude oil prices and global tariff decisions to determine the market’s next move. Keep an eye on stocks like ACME Solar, IREDA, and AMC stocks for further developments as the market digests these mixed signals.
For more stock market insights, check out the StockGro blog.
