The BSE Sensex ended the day at 83,536.08, dropping 176.43 points or 0.21%. The NSE Nifty50 closed at 25,476.10, down 46.4 points or 0.18%.
This session saw a mixed performance across the broader market. The Nifty MidCap 100 declined by 0.13%, while the Nifty SmallCap index gained 0.59%, reflecting a more positive mood in the small-cap space. The market was weighed down by concerns over an expected tariff list from the US, which could impact global trade dynamics.
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Impact on the stock market
Sectoral indices performance
Sector-wise, the market displayed a bearish trend with sectors like Nifty Realty, Metal, and Oil & Gas all taking a hit. Here’s a breakdown:
- Nifty Realty: -1.49%
- Nifty Metal: -1.4%
- Nifty Oil & Gas: -1.25%
On the other hand, sectors like FMCG, Auto, Financial Services, Pharma, and Consumer Durables closed higher, showing some resilience amid broader market weakness.
| Sector/Index | Performance |
| IT & BPM sector | -0.78% |
| Healthcare sector | -0.36% |
| Oil & Gas sector | -0.36% |
| Real estate sector | -1.49% |
| PSU Bank in India | -0.78% |
Top gainers today
| Company | Price (in ₹) | Change % |
| Shriram Finance Share Price | 681.05 | 1.81 |
| Bajaj Finance Share Price | 940.60 | 1.40 |
| HUL Share Price | 2,423.40 | 1.28 |
| Coal India Share Price | 387.45 | 1.20 |
| UltraTechCement Share Price | 12,562.00 | 0.94 |
Top losers today
| Company | Price (in ₹) | Change % |
| HCL Tech Share Price | 1,674.00 | -2.00 |
| Tata Steel Share Price | 159.00 | -1.83 |
| Hindalco Share Price | 673.95 | -1.70 |
| Apollo Hospital Share Price | 7,469.00 | -1.27 |
| Tech Mahindra Share Price | 1,614.80 | -1.26 |
Market aftermath: Impact on stocks
Vedanta shares down over 3%
Vedanta shares took a significant hit today, falling more than 3%. The drop was primarily driven by a report from US-based short-seller Viceroy Research, which questioned the financial sustainability of Vedanta Resources. Viceroy referred to the company as a “parasite holding company” dependent on its operating arm, Vedanta Ltd, for financial survival. Vedanta Group has strongly denied these allegations, calling the report “selective misinformation” and “baseless.” This report has contributed to the bearish sentiment in the metal sector, with the Nifty Metal index dropping by nearly 2%.
Also read: Vedanta Shares drop sharply despite strong Q4 production numbers
Prostarm Info Systems shares jump 11%
On a more positive note, Prostarm Info Systems witnessed a substantial jump in its stock price, rising by 11%. The company recently announced plans to establish its first Battery Energy Storage System (BESS) manufacturing facility in Haryana, marking a key step in its expansion into the energy sector. The stock has surged over 62% since its market debut less than a month ago, and this new project could significantly boost its future revenue prospects.
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Union Bank of India drops 5%
Union Bank of India saw its shares fall by 5% following the release of a weak Q1 business update. The bank reported a 6.8% year-on-year growth in its loan book, marking the slowest pace in the last four quarters. Additionally, its deposit growth also remained subdued, with a growth rate of just 3.63% year-on-year. These underwhelming results have raised concerns about the bank’s performance in the coming quarters, leading to the stock’s decline.
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Crude oil update
In commodities, crude oil prices experienced a slight dip today. As of the early hours of trading, July crude oil futures were priced at ₹5,861 on the MCX, down by 0.42% from the previous close. The fall in crude oil prices can be attributed to a report from the American Petroleum Institute, which showed an increase in US crude oil inventories by 7.1 million barrels for the week ending July 4. The increase in inventories indicates weaker-than-expected demand for oil, which has impacted prices. Additionally, concerns over US trade tariffs have kept the market cautious, further weighing on oil prices.
Copper, on the other hand, showed some resilience. The price of copper futures rose slightly by 0.13%, supported by market anticipation of the 50% tariff on copper imports announced by US President Donald Trump. The tariff is expected to push prices higher in the short term as buyers rush to stockpile before the new duties are implemented.
Conclusion
Overall, it was a mixed day for the Indian stock market. While defensive sectors like FMCG, Pharma, and Consumer Durables showed strength, the market was dampened by global uncertainties, particularly concerns over new US tariffs. The sharp declines in sectors like metals and oil & gas, driven by issues at Vedanta and crude oil price weakness, suggest that investors are still wary. However, there were bright spots, such as the strong performance of Prostarm Info Systems, which demonstrated that some sectors are finding opportunities in challenging times.
As we look ahead, all eyes will be on US trade policy developments and the broader global economic environment, which could have significant implications for Indian stocks in the coming weeks.
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